1,504,497 Shares in ServiceNow, Inc. $NOW Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,504,497 shares of the information technology services provider’s stock, valued at approximately $149,359,000. Jupiter Topco LLC owned approximately 0.15% of ServiceNow at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NOW. Covenant Asset Management LLC raised its stake in shares of ServiceNow by 169.2% during the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after purchasing an additional 13,114 shares during the period. Norges Bank bought a new position in ServiceNow during the fourth quarter valued at about $2,020,992,000. World Investment Advisors increased its holdings in ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after buying an additional 38,583 shares during the last quarter. Moors & Cabot Inc. increased its holdings in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after acquiring an additional 353,749 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity

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

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its AI ecosystem through a multiyear partnership with Tech Mahindra, which is intended to scale enterprise AI deployments on the ServiceNow platform. The agreement supports the company’s positioning as an “AI control tower” and could drive additional platform adoption. ServiceNow In Focus Following Tech Mahindra AI Deal
• Positive Sentiment: Pricefx announced an integration that brings AI-powered pricing and deal optimization into ServiceNow sales workflows, including negotiation guidance, product recommendations and sales-agent capabilities. Such integrations may increase the platform’s usefulness and strengthen its enterprise software ecosystem. Pricefx Announces Integration with ServiceNow
• Positive Sentiment: Recent commentary remains bullish on ServiceNow’s AI growth potential, while CoreX, an elite ServiceNow partner, launched AI Horizon to help enterprises adopt AI-native workflows on the company’s platform. CoreX Launches AI Horizon
• Neutral Sentiment: Bank of America’s higher price targets for software stocks suggest improving sentiment toward the sector, although broader market futures were weaker and the benefit to NOW may be limited. Bank of America Raises Software Price Targets
• Negative Sentiment: ServiceNow shares moved lower as investors took profits following an approximately 29% one-month rally. Cooling momentum indicators and technical resistance near $150 have increased near-term selling pressure. What’s Going On With ServiceNow Stock Wednesday?
• Negative Sentiment: Investors are also assessing fair value after the rally, including the impact of a separate employee stock offering. ServiceNow’s elevated valuation leaves the stock vulnerable if AI monetization fails to accelerate.
• Negative Sentiment: Broader software-sector volatility, leveraged trading and concerns that AI-built applications could eventually displace traditional SaaS platforms are adding risk. Datadog was judged to have an edge over NOW on growth and earnings momentum, another potential rotation headwind. Momentum and Leveraged Trading Keep Software Stocks Volatile

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citic Securities dropped 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. Oppenheimer restated an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. Robert W. Baird lifted their price target on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. TD Cowen reiterated a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Monday, August 17th. Finally, Benchmark reissued a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Stock Down 1.0%

NOW opened at $125.68 on Thursday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The company has a 50 day moving average of $110.48 and a 200 day moving average of $106.06. 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 company has a market cap of $129.95 billion, a PE ratio of 78.55, a price-to-earnings-growth ratio of 2.23 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current year.

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.