Payne Capital Management LLC Makes New $436,000 Investment in ServiceNow, Inc. $NOW

Payne Capital Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,390 shares of the information technology services provider’s stock, valued at approximately $436,000.

A number of other institutional investors also recently modified their holdings of the stock. Millstone Evans Group LLC grew its holdings in ServiceNow by 400.0% in the fourth 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 holdings in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC bought a new position in shares of ServiceNow during the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC grew its stake in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the period. Finally, Wealth Watch Advisors INC raised its stake in ServiceNow by 432.3% during the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key ServiceNow News

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

ServiceNow Trading Down 1.0%

Shares of NOW stock opened at $125.68 on Thursday. The company’s fifty day simple moving average is $110.48 and its two-hundred day simple moving average is $106.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The stock has a market capitalization of $129.95 billion, a price-to-earnings ratio of 78.55, a PEG ratio of 2.23 and a beta of 0.94.

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, topping analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Cantor Fitzgerald raised their target price on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Wells Fargo & Company reiterated an “overweight” rating and issued a $175.00 target price (up from $160.00) on shares of ServiceNow in a research note on Wednesday, August 12th. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. Finally, BMO Capital Markets lifted their target price on ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.24.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the transaction, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

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.