Kentucky Farm Bureau Mutual Insurance Co Buys New Shares in ServiceNow, Inc. $NOW

Kentucky Farm Bureau Mutual Insurance Co bought a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 12,500 shares of the information technology services provider’s stock, valued at approximately $1,241,000.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow in the third quarter worth about $29,000. Kelleher Financial Advisors purchased a new stake in ServiceNow during the 3rd quarter valued at about $50,000. Pin Oak Investment Advisors Inc. boosted its holdings in ServiceNow by 20.7% during the 3rd 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 during the period. Jupiter Wealth Management LLC bought a new position in ServiceNow during the 2nd quarter worth approximately $154,000. Finally, CBIZ Investment Advisory Services LLC grew its position in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target. BofA lifted its target from $130 to $150 and upgraded or reaffirmed the stock with a “Buy” rating, implying substantial upside from the referenced market level. Benzinga
• Positive Sentiment: Broader software-sector fears eased. Market commentary indicated that investors are moving away from the view that AI will make traditional enterprise software obsolete. This helped support ServiceNow and other major software stocks after a prolonged selloff. ServiceNow Leads a Software Rally
• Positive Sentiment: The Armis cybersecurity acquisition strengthens ServiceNow’s growth narrative. Coverage of the approximately $8 billion deal highlights its potential to expand ServiceNow’s AI-powered security platform and add preventive cyber-defense capabilities. ServiceNow Armis Acquisition
• Positive Sentiment: ServiceNow received additional bullish commentary. TD Cowen reiterated its “Buy” rating, while other analysts and market commentators pointed to the company’s recurring revenue, roughly 20%-plus growth profile and opportunities to monetize AI workflows. Why ServiceNow Stock Rallied
• Neutral Sentiment: New partnership expands the AI platform ecosystem. Tribal announced “Tribal for ServiceNow,” allowing enterprise teams to build and deploy AI agents within ServiceNow environments. The partnership may improve platform adoption, although its near-term financial impact is unclear. Tribal Partners with ServiceNow
• Negative Sentiment: AI-related business-model risks remain. Critics warn that AI could pressure per-seat software pricing if companies accomplish more work with fewer employees, potentially challenging long-term revenue growth. AI Risks to ServiceNow’s Business Model
• Negative Sentiment: Insider selling and acquisition execution risks remain overhangs. A director sold 1,500 shares under a pre-arranged Rule 10b5-1 plan, limiting its significance, while the Armis transaction creates integration and spending risks. ServiceNow Director Share Sale

ServiceNow Stock Performance

Shares of NOW stock opened at $127.22 on Thursday. The firm has a market capitalization of $131.54 billion, a price-to-earnings ratio of 79.51, a PEG ratio of 2.10 and a beta of 0.94. The stock has a fifty day moving average of $107.82 and a 200 day moving average of $105.49. 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.

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. 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 the consensus estimate of $3.93 billion. During the same period in the previous year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday, July 1st. Stifel Nicolaus cut their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Bank of America lifted their target price on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets upped their price target on shares of ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, CLSA assumed coverage on shares of ServiceNow in a research report on Monday, July 20th. They set an “underperform” rating and a $72.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $144.24.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, August 13th. The shares were 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 of the company’s stock, 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 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.