GTS Securities LLC Purchases 21,607 Shares of ServiceNow, Inc. $NOW

GTS Securities LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 90.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,553 shares of the information technology services provider’s stock after buying an additional 21,607 shares during the quarter. GTS Securities LLC’s holdings in ServiceNow were worth $4,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new position in ServiceNow in the second quarter worth approximately $141,966,000. Jasper Ridge Partners L.P. grew its position in shares of ServiceNow by 201.5% during the 2nd quarter. Jasper Ridge Partners L.P. now owns 13,041 shares of the information technology services provider’s stock valued at $1,295,000 after acquiring an additional 8,716 shares during the period. Flputnam Investment Management Co. grew its position in shares of ServiceNow by 1,748.5% during the 2nd quarter. Flputnam Investment Management Co. now owns 99,856 shares of the information technology services provider’s stock valued at $9,914,000 after acquiring an additional 94,454 shares during the period. Wedbush Securities Inc. increased its stake in shares of ServiceNow by 7.7% in the 2nd quarter. Wedbush Securities Inc. now owns 42,739 shares of the information technology services provider’s stock worth $4,243,000 after purchasing an additional 3,063 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co lifted its position in shares of ServiceNow by 10.8% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 20,959 shares of the information technology services provider’s stock valued at $2,081,000 after buying an additional 2,040 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s recent rally was helped by Salesforce’s strong quarterly results and upbeat outlook, which eased concerns about a “SaaS-pocalypse.” Investors are increasingly viewing AI as an enhancement to existing enterprise workflows rather than a threat to core software platforms. Why ServiceNow Rallied Today
• Positive Sentiment: Analyst and market commentary highlights ServiceNow’s agentic-AI momentum, including more than $1 billion in AI annual contract value, broader enterprise adoption and potential new monetization opportunities. The company’s AI Control Tower and expanding customer spending are viewed as additional growth drivers. Agentic AI Adoption Boosts NOW’s Growth Prospects
• Positive Sentiment: Wall Street remains broadly constructive, with ServiceNow receiving Buy or Moderate Buy consensus ratings. The stock has also approached technical buy points, while some analysts have issued targets as high as $150 or substantially higher. Is It Worth Investing in ServiceNow Based on Wall Street’s Bullish Views?
• Neutral Sentiment: ServiceNow has risen about 70% from its yearly low and remains below its prior peak, creating debate over whether the move represents a new buying opportunity or a temporary rebound. Analysts’ median price target of approximately $134 is below the current trading level, limiting near-term upside based on that measure. Is It a Golden Opportunity to Buy ServiceNow Stock?
• Negative Sentiment: ServiceNow warned of three maximum-severity vulnerabilities that could allow unauthenticated attackers to execute code or access SQL systems. Although patches and mitigations may limit the financial impact, the disclosures create reputational, customer-retention and execution risks. Three CVSS 10.0 ServiceNow Flaws
• Negative Sentiment: At an elevated earnings multiple, the stock is vulnerable to profit-taking if AI growth slows. Jim Cramer recommended selling half a position and retaining the remainder, underscoring the sharp rally and the possibility that some optimism is already reflected in the shares. Jim Cramer’s ServiceNow Advice

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Wednesday, July 1st. Finally, TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Trading Up 4.6%

NOW opened at $144.77 on Friday. The stock has a 50-day moving average of $112.33 and a 200 day moving average of $106.60. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The firm has a market cap of $149.69 billion, a P/E ratio of 90.48, a P/E/G ratio of 2.55 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued 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 business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current year.

Insiders Place Their Bets

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 transaction of $188,400.00. Following the sale, the director owned 46,690 shares in the company, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.