ServiceNow, Inc. $NOW Shares Bought by Noble Wealth Management PBC

Noble Wealth Management PBC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6,812.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,060 shares of the information technology services provider’s stock after purchasing an additional 10,900 shares during the period. Noble Wealth Management PBC’s holdings in ServiceNow were worth $1,098,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NOW. Vanguard Group Inc. raised its position in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. State Street Corp lifted its stake in ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after buying an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after buying an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley increased its stake in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after buying an additional 17,514,679 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 2.7%

Shares of ServiceNow stock opened at $114.24 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $105.88 and its 200-day simple moving average is $106.01. The stock has a market cap of $118.12 billion, a P/E ratio of 71.40, a P/E/G ratio of 1.96 and a beta of 0.96. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. Analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: AI growth is strengthening the investment case: ServiceNow’s AI portfolio surpassed $1 billion in annual contract value, providing evidence that its AI-enabled workflow products are generating meaningful commercial demand. ServiceNow AI ACV and layoffs article
• Positive Sentiment: Cost controls are being viewed favorably: ServiceNow is reshaping its workforce toward AI-focused roles, with reports ranging from nearly 300 Silicon Valley layoffs to a broader plan affecting as many as 1,000 positions. Management reportedly intends to keep overall headcount roughly flat, suggesting redeployment and efficiency gains rather than a retreat from growth. The stock’s recent advance indicates investors are treating the move as margin-positive. ServiceNow job cuts article
• Positive Sentiment: Recent operating results exceeded expectations: Second-quarter revenue reached approximately $3.99 billion, up 24% year over year, while earnings per share beat consensus estimates. This provides fundamental support for the bullish reaction to the AI and restructuring announcements. ServiceNow quarterly results article
• Neutral Sentiment: Analyst sentiment remains constructive but not aggressively bullish: Brokerages currently assign ServiceNow a consensus “Moderate Buy” rating. Separately, some market strategists see beaten-down enterprise software companies as offering value, although they believe hyperscalers have clearer near-term AI monetization. ServiceNow consensus rating article
• Negative Sentiment: Execution and workforce risks remain: Layoffs could disrupt teams, and the differing estimates of 300 versus up to 1,000 affected employees create uncertainty about the restructuring’s scope. ServiceNow also filed shelf registrations tied to employee stock plans, which could contribute to future share dilution. ServiceNow layoffs article

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’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 sale, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 19,144 shares of company stock valued at $1,730,097. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOW. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. Canaccord Genuity Group decreased their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Citic Securities lowered their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.39.

ServiceNow Company Profile

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.