Haverford Trust Co Purchases Shares of 4,095 ServiceNow, Inc. $NOW

Haverford Trust Co purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, Holdings Channel reports. The fund purchased 4,095 shares of the information technology services provider’s stock, valued at approximately $407,000.

A number of other large investors also recently modified their holdings of NOW. Covenant Asset Management LLC boosted its stake in shares of ServiceNow by 169.2% during the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after acquiring an additional 13,114 shares during the period. Norges Bank bought a new stake in ServiceNow in the 4th quarter valued at $2,020,992,000. World Investment Advisors raised its stake in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after acquiring an additional 38,583 shares during the period. Moors & Cabot Inc. lifted its holdings in ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in ServiceNow by 53.3% during the 1st quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock valued at $106,436,000 after purchasing an additional 353,749 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s 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 transaction, 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 through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

ServiceNow News Summary

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

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. UBS Group set a $248.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. Cantor Fitzgerald raised their target price on shares of ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Capital One Financial lifted their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. Finally, DA Davidson set a $170.00 price target on shares of ServiceNow and gave the company a “buy” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Stock Up 0.2%

NOW stock opened at $128.73 on Monday. 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 stock has a market capitalization of $133.11 billion, a price-to-earnings ratio of 80.46, a PEG ratio of 2.26 and a beta of 0.94. The business’s fifty day moving average price is $108.88 and its two-hundred day moving average price is $105.66. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73.

ServiceNow (NYSE:NOW) last posted its 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 the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company’s revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current 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.