Castleark Management LLC Has $31.76 Million Position in ServiceNow, Inc. $NOW

Castleark Management LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 12.3% during the first quarter, Holdings Channel.com reports. The fund owned 303,756 shares of the information technology services provider’s stock after purchasing an additional 33,336 shares during the period. ServiceNow comprises about 1.1% of Castleark Management LLC’s holdings, making the stock its 22nd largest holding. Castleark Management LLC’s holdings in ServiceNow were worth $31,758,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NOW. Covenant Asset Management LLC lifted its holdings in ServiceNow by 169.2% during the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after acquiring an additional 13,114 shares in the last quarter. Norges Bank bought a new stake in shares of ServiceNow in the fourth quarter worth about $2,020,992,000. World Investment Advisors increased its holdings in shares of ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after acquiring an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC raised its position in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares during the period. Finally, Moors & Cabot Inc. raised its position in shares of 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 purchasing an additional 36,274 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.0%

NYSE:NOW opened at $98.77 on Monday. The stock has a 50-day simple moving average of $104.77 and a 200 day simple moving average of $107.42. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $201.15. The company has a market cap of $102.13 billion, a PE ratio of 61.73, a PEG ratio of 1.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last released its 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 for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

Key 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

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. DA Davidson set a $170.00 price objective on ServiceNow and gave the company a “buy” rating in a research report on Monday, July 20th. HSBC dropped their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. CLSA assumed coverage on shares of ServiceNow in a research note on Monday, July 20th. They issued an “underperform” rating and a $72.00 price target on the stock. Wolfe Research set a $125.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.39.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 ServiceNow stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,144 shares of company stock worth $1,730,097 over the last ninety days. Insiders own 0.34% of the company’s stock.

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.