L2 Asset Management LLC Makes New $583,000 Investment in ServiceNow, Inc. $NOW

L2 Asset Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel reports. The firm acquired 5,874 shares of the information technology services provider’s stock, valued at approximately $583,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow in the 3rd quarter valued at $29,000. Kelleher Financial Advisors acquired a new position in ServiceNow in the third quarter valued at $50,000. Pin Oak Investment Advisors Inc. boosted its stake in 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 valued at $123,000 after acquiring an additional 23 shares in the last quarter. Jupiter Wealth Management LLC purchased a new position in shares of ServiceNow during the second quarter worth about $154,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 0.8%

NYSE:NOW opened at $126.98 on Wednesday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $109.87 and a 200-day simple moving average of $105.90. The company has a market capitalization of $131.29 billion, a PE ratio of 79.36, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. Guggenheim raised ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, July 1st. Cantor Fitzgerald lifted their price target on ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Finally, Evercore restated an “outperform” rating and set a $160.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s expanded, multiyear AI partnership with Tech Mahindra is intended to accelerate enterprise deployments, strengthen AI governance and support monetization. The agreement could improve ServiceNow’s competitive position against Salesforce and Microsoft. Can NOW’s Tech Mahindra Deal Boost Its AI Edge Over CRM & MSFT?
• Positive Sentiment: ServiceNow partners are building implementation and advisory offerings around its AI platform. CoreX’s launch of AI Horizon highlights growing ecosystem support and may help customers adopt AI-native workflows, potentially increasing platform usage and services demand. CoreX Launches AI Horizon to Guide Enterprises to AI-Native Work
• Positive Sentiment: Bank of America’s decision to raise price targets across software stocks suggests analysts see the sector selloff as potentially stabilizing, providing a more supportive backdrop for NOW. Bank of America raises price targets on 10 software stocks
• Neutral Sentiment: Analysts view ServiceNow as a major beneficiary of AI-driven enterprise workflow spending, but the stock’s move toward the $150 area makes continued gains dependent on stronger execution, growth and evidence that AI products are generating material revenue. ServiceNow Just Ripped 29% in a Month
• Negative Sentiment: Datadog is currently favored over ServiceNow because of faster growth, stronger earnings surprises and expanding AI opportunities, reinforcing concerns that NOW’s premium valuation may be difficult to sustain. DDOG vs. NOW: Which Cloud Software Stock Has an Edge Right Now?
• Negative Sentiment: Investors remain concerned that AI-generated or “vibe-coded” applications could eventually reduce demand for traditional SaaS platforms, including ServiceNow. Questions about acquisitions and capital allocation add further risk, while a broader rotation away from technology could limit near-term upside.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director directly owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Company 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.