Diversify Advisory Services LLC Invests $27.99 Million in ServiceNow, Inc. $NOW

Diversify Advisory Services LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 265,190 shares of the information technology services provider’s stock, valued at approximately $27,993,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its stake in shares of ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after acquiring an additional 14 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in shares of ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares in the last quarter. American Trust raised its holdings in ServiceNow by 1.8% in the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after purchasing an additional 18 shares during the period. Morse Asset Management Inc raised its holdings in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after purchasing an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its position in ServiceNow by 3.7% during the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after purchasing an additional 20 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial boosted their price target on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Guggenheim raised ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Wednesday, July 1st. Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. BMO Capital Markets increased their target price on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.76.

ServiceNow Stock Up 1.6%

NYSE NOW opened at $119.57 on Wednesday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. 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 stock has a market cap of $123.63 billion, a PE ratio of 74.73, a P/E/G ratio of 2.18 and a beta of 0.94. The stock’s 50 day moving average is $107.40 and its 200 day moving average is $105.41.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction 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 owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New ServiceNow AI-platform partnership. Tribal launched Tribal for ServiceNow, allowing enterprise teams—not only developers—to build and personalize AI agents within the ServiceNow environment. The partnership could improve platform adoption and reinforce ServiceNow’s position in enterprise workflow automation. Tribal Partners with ServiceNow
• Positive Sentiment: AI security strategy is expanding. ServiceNow’s planned $7.75 billion acquisition of Armis would add cybersecurity capabilities to its AI-powered platform and broaden its addressable market. Analysts also point to security and AI workflow opportunities as potential drivers of sustained recurring-revenue growth. ServiceNow Is Spending $7.75 Billion on AI Security
• Positive Sentiment: Analyst remains bullish. TD Cowen reaffirmed a Buy rating and a $140 price target. ServiceNow’s latest reported quarter showed revenue growth of approximately 24% year over year, supporting the case that AI is adding to—not replacing—existing platform demand. ServiceNow Earns Buy Rating
• Neutral Sentiment: Insider sale was modest and scheduled. Director Paul Edward Chamberlain sold 1,500 shares for roughly $188,400 under a pre-arranged Rule 10b5-1 plan. The transaction reduced his position by 3.11%, but provides limited insight into current management sentiment. SEC Insider Filing
• Negative Sentiment: Valuation and business-model risks remain. Commentators say NOW still looks expensive despite its steep prior decline. Parnassus CIO Todd Ahlsten also warned that AI could pressure per-seat software pricing if companies accomplish more with fewer employees. Salesforce and ServiceNow Business Model Risk
• Negative Sentiment: Software-sector rotation is a headwind. Investors have been favoring semiconductor and AI-hardware stocks over SaaS names, contributing to weakness across software. The Armis deal also creates integration and execution risks.

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.