Harber Asset Management LLC Makes New Investment in ServiceNow, Inc. $NOW

Harber Asset Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,674 shares of the information technology services provider’s stock, valued at approximately $5,130,000. ServiceNow comprises about 3.1% of Harber Asset Management LLC’s investment portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC boosted its stake in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC raised its stake in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new stake in ServiceNow during the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC increased its holdings in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Finally, Wealth Watch Advisors INC raised its stake in shares of ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $140.00 target price (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. Benchmark reissued a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $175.00 target price (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Trading Down 0.8%

Shares of NOW opened at $128.73 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The firm has a market capitalization of $133.11 billion, a P/E ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $108.88 and its 200 day simple moving average is $105.74.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) 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 firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The company’s revenue was up 24.0% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director directly owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company’s stock.

ServiceNow 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.