160,636 Shares in ServiceNow, Inc. $NOW Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, Holdings Channel.com reports. The institutional investor bought 160,636 shares of the information technology services provider’s stock, valued at approximately $15,948,000.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Centaurus Financial Inc. purchased a new position in ServiceNow in the second quarter worth $1,447,000. Formula Growth Ltd. purchased a new stake in shares of ServiceNow during the 2nd quarter valued at $1,390,000. Public Employees Retirement System of Ohio acquired a new stake in shares of ServiceNow in the 2nd quarter worth $38,345,000. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of ServiceNow in the 2nd quarter worth $2,936,000. Finally, PenderFund Capital Management Ltd. purchased a new position in ServiceNow during the 2nd quarter worth $367,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Salesforce earnings lifted the sector. Salesforce’s strong quarterly results, raised guidance and “Claudeforce” AI announcement eased fears of a broad “SaaS-pocalypse.” The read-through suggests businesses are adding AI tools to existing software platforms rather than replacing them, benefiting ServiceNow. Why ServiceNow Rallied Today
• Positive Sentiment: Enterprise AI momentum remains a key catalyst. Reports highlighted ServiceNow’s more than $1 billion in AI annual contract value, expanding customer adoption and the potential for its AI Control Tower and agentic-AI products to create additional revenue streams. Agentic AI Adoption Boosts NOW’s Growth Prospects Against MSFT & CRM
• Positive Sentiment: Technical and analyst sentiment improved. ServiceNow cleared an early buy point as disruption fears faded, while coverage cited positive price-target actions and a potential sector re-rating. ServiceNow, IBD Stock Of The Day
• Positive Sentiment: Platform integrations support monetization. Pricefx announced an integration that brings AI-powered deal optimization and sales guidance to ServiceNow workflows, reinforcing the platform’s ecosystem and enterprise-use case. Pricefx Announces Integration with ServiceNow

Wall Street Analyst Weigh In

NOW has been the subject of several recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Bank of America upped their price objective on shares of ServiceNow from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Weiss Ratings upgraded shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Capital One Financial boosted their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Benchmark restated a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Price Performance

Shares of NYSE NOW opened at $138.50 on Friday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The business’s 50 day moving average price is $111.34 and its 200 day moving average price is $106.33. 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 firm has a market cap of $143.20 billion, a P/E ratio of 86.56, a P/E/G ratio of 2.21 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced 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. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’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 transaction, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by company insiders.

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.