Callan Family Office LLC Takes $4.53 Million Position in ServiceNow, Inc. $NOW

Callan Family Office LLC purchased a new position 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 45,627 shares of the information technology services provider’s stock, valued at approximately $4,530,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Wealth Watch Advisors INC bought a new stake in shares of ServiceNow during the third quarter worth $29,000. Kelleher Financial Advisors purchased a new stake in shares of ServiceNow during the third quarter valued at $50,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of ServiceNow by 20.7% in the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 23 shares during the last quarter. Jupiter Wealth Management LLC bought a new position in shares of ServiceNow in the second quarter worth about $154,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow 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 transaction of $188,400.00. Following the sale, the director owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This trade represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

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

A number of brokerages recently weighed in on NOW. TD Cowen reiterated a “buy” rating and set a $140.00 price objective on shares of ServiceNow in a report on Monday, August 17th. Argus dropped their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Citic Securities reduced their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Cantor Fitzgerald lifted their price target on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $144.24.

ServiceNow Price Performance

Shares of NOW opened at $128.73 on Friday. The company has a 50 day moving average price of $108.88 and a 200-day moving average price of $105.74. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The stock has a market capitalization of $133.11 billion, a PE ratio of 80.46, a PEG ratio of 2.28 and a beta of 0.94. 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 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. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal 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.