Keebeck Wealth Management Buys New Shares in ServiceNow, Inc. $NOW

Keebeck Wealth Management purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, Holdings Channel reports. The fund purchased 5,993 shares of the information technology services provider’s stock, valued at approximately $595,000.

A number of other large investors have also recently bought and sold shares of NOW. Millstone Evans Group LLC lifted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC acquired a new stake in ServiceNow during the fourth quarter worth approximately $25,000. Measured Wealth Private Client Group LLC increased its holdings in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC increased its holdings in ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Capital One Financial boosted their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research report on Monday, August 3rd. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Wednesday, July 1st. Morgan Stanley set a $180.00 target price on shares of ServiceNow in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $175.00 target price (up from $160.00) on shares of ServiceNow in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.24.

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

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director owned 46,690 shares in the company, valued at approximately $5,864,264. The trade was a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 0.8%

Shares of ServiceNow stock opened at $128.73 on Friday. 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, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The stock has a 50 day moving average price of $108.88 and a two-hundred day moving average price of $105.74. The stock has a market capitalization of $133.11 billion, a PE ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

ServiceNow Profile

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.