Simplicity Wealth LLC Purchases 3,705 Shares of ServiceNow, Inc. $NOW

Simplicity Wealth LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 35.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 14,049 shares of the information technology services provider’s stock after acquiring an additional 3,705 shares during the quarter. Simplicity Wealth LLC’s holdings in ServiceNow were worth $1,883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Cornerstone Financial Management LLC raised its position in ServiceNow by 72.8% during the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after buying an additional 107 shares during the last quarter. Marquette Asset Management LLC lifted its stake in ServiceNow by 75.0% during the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 129 shares during the period. Kilter Group LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $31,000. Solstein Capital LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $35,000. Finally, Main Street Group LTD purchased a new stake in shares of ServiceNow in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. BTIG Research reiterated a “buy” rating and issued a $170.00 price objective on shares of ServiceNow in a research note on Monday, October 12th. Evercore restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, October 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of ServiceNow in a report on Tuesday, October 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $266.00 price target on shares of ServiceNow in a research report on Tuesday, October 20th. Finally, JPMorgan Chase & Co. lifted their price objective on ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $155.74.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline Canney sold 7,847 shares of ServiceNow stock in a transaction on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the transaction, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the transaction, the director owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Performance

NOW opened at $158.05 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a fifty day moving average price of $137.53 and a 200 day moving average price of $115.71. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $192.97. The stock has a market cap of $163.42 billion, a P/E ratio of 98.78, a P/E/G ratio of 2.92 and a beta of 0.99.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analysts raise targets: Cantor Fitzgerald lifted its price target from $174 to $201 and maintained an Overweight rating. Bank of America also raised its target to $180 while keeping a Buy rating, and Morgan Stanley reiterated its Buy rating with a $180 target. Analysts cited strong execution, AI-led demand and potential federal-sector growth. Cantor Fitzgerald ServiceNow rating Bank of America raises ServiceNow price target Morgan Stanley ServiceNow rating
• Positive Sentiment: AI and mission-critical software demand: Coverage highlights ServiceNow’s role in enterprise workflow automation and mission-critical IT software, with investors reassessing the value of enterprise AI applications. A broader resilience-orchestration market forecast also identifies ServiceNow as a participant in growth driven by AI, hybrid cloud and automated recovery. ServiceNow enterprise AI coverage
• Neutral Sentiment: Earnings are the next major catalyst: Zacks expects third-quarter revenue of approximately $4.09 billion, representing about 20% year-over-year growth. Investors will focus on subscription growth, AI bookings, margins, costs and guidance when results are released. ServiceNow Q3 earnings preview
• Negative Sentiment: Valuation and execution risks: ServiceNow trades at a high earnings multiple, making the stock vulnerable if results or guidance disappoint. One Seeking Alpha contributor issued a Strong Sell recommendation ahead of earnings, while other coverage flags rising costs, competition and uncertainty over whether AI-driven growth justifies the premium valuation. ServiceNow Strong Sell analysis

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.