GSA Capital Partners LLP Invests $436,000 in ServiceNow, Inc. $NOW

GSA Capital Partners LLP purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, HoldingsChannel reports. The firm purchased 4,394 shares of the information technology services provider’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covenant Asset Management LLC lifted its position in 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 buying an additional 13,114 shares in the last quarter. Norges Bank acquired a new position in shares of ServiceNow in the fourth quarter valued at $2,020,992,000. World Investment Advisors raised its position 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 valued at $7,346,000 after purchasing an additional 38,583 shares during the period. Moors & Cabot Inc. lifted its stake in shares of ServiceNow by 387.7% during the 4th 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 lifted its stake in shares of ServiceNow by 53.3% during the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after buying an additional 353,749 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 0.8%

NYSE NOW opened at $128.73 on Friday. 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 $133.11 billion, a price-to-earnings ratio of 80.46, a PEG ratio of 2.28 and a beta of 0.94. The company has a 50 day moving average of $108.88 and a 200-day moving average of $105.74. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data 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 for 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 company’s revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOW. Cantor Fitzgerald upped 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. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Citizens Jmp reiterated a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Finally, DA Davidson set a $170.00 price target on ServiceNow and gave the company a “buy” rating in a research note on Monday, July 20th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.24.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company’s stock.

Key Headlines Impacting 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

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.