Morningstar Investment Management LLC Grows Stake in ServiceNow, Inc. $NOW

Morningstar Investment Management LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 182.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,119 shares of the information technology services provider’s stock after buying an additional 29,144 shares during the quarter. Morningstar Investment Management LLC’s holdings in ServiceNow were worth $4,717,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. GC Wealth Management RIA LLC lifted its stake in ServiceNow by 5.5% in the first quarter. GC Wealth Management RIA LLC now owns 111,620 shares of the information technology services provider’s stock worth $11,670,000 after acquiring an additional 5,771 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in ServiceNow by 1.0% in the first quarter. Public Employees Retirement System of Ohio now owns 418,373 shares of the information technology services provider’s stock valued at $43,741,000 after acquiring an additional 3,963 shares in the last quarter. Compound Planning Inc. increased its position in ServiceNow by 31.5% during the 1st quarter. Compound Planning Inc. now owns 18,996 shares of the information technology services provider’s stock valued at $1,986,000 after purchasing an additional 4,546 shares during the period. Klingman & Associates LLC increased its position in ServiceNow by 50.2% during the 1st quarter. Klingman & Associates LLC now owns 3,780 shares of the information technology services provider’s stock valued at $395,000 after purchasing an additional 1,263 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in ServiceNow by 189.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,328,805 shares of the information technology services provider’s stock worth $452,577,000 after purchasing an additional 2,830,891 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 19,144 shares of company stock worth $1,730,097. Insiders own 0.34% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

ServiceNow Trading Up 7.4%

NYSE:NOW opened at $98.77 on Friday. The stock has a market cap of $101.83 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 1.54 and a beta of 0.96. The company has a quick ratio of 0.84, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average price is $104.77 and its 200-day moving average price is $107.70. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $201.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NOW shares. Argus dropped their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Evercore reiterated an “outperform” rating and set a $160.00 price target on shares of ServiceNow in a research report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of ServiceNow in a research note on Thursday. Truist Financial raised their price objective on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, DA Davidson set a $170.00 target price on shares of ServiceNow and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $143.39.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.