26,469 Shares of ServiceNow, Inc. $NOW Bought by Legacy CG LLC

Legacy CG LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,469 shares of the information technology services provider’s stock, valued at approximately $3,547,000.

Several other hedge funds have also recently bought and sold shares of the stock. A. D. Beadell Investment Counsel Inc. lifted its holdings in ServiceNow by 2.9% during the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 2,818 shares of the information technology services provider’s stock worth $279,000 after purchasing an additional 80 shares during the last quarter. DUTCH ASSET Corp boosted its stake in ServiceNow by 0.5% in the 3rd quarter. DUTCH ASSET Corp now owns 16,331 shares of the information technology services provider’s stock valued at $2,189,000 after purchasing an additional 82 shares during the period. Atwood & Palmer Inc. boosted its stake in ServiceNow by 20.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider’s stock valued at $60,000 after purchasing an additional 100 shares during the period. Diligent Investors LLC grew its holdings in ServiceNow by 4.1% in the 3rd quarter. Diligent Investors LLC now owns 2,560 shares of the information technology services provider’s stock valued at $343,000 after buying an additional 100 shares in the last quarter. Finally, Signature Wealth Management Partners LLC grew its holdings in ServiceNow by 3.3% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 3,281 shares of the information technology services provider’s stock valued at $440,000 after buying an additional 106 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Argus reaffirmed its Buy rating and set a $170 price target, signaling confidence in ServiceNow’s recovery potential after the recent selloff. Argus rating and price target
• Positive Sentiment: ServiceNow’s enterprise AI push—including its Control Tower Alliance with major technology partners—could strengthen its role in helping companies deploy and govern AI. ServiceNow rolls out Control Tower Alliance
• Positive Sentiment: Recent commentary argues that the selloff may offer a buying opportunity, citing ServiceNow’s growth prospects and demand for AI-driven workflow tools. ServiceNow Stock: Buy the Dip?
• Neutral Sentiment: Q3 revenue was about $4.1 billion, slightly ahead of estimates, but the company is increasing AI-related investment and shifting toward outcome-based pricing—changes that could affect how growth and profitability develop. How Higher AI Spending Will Impact ServiceNow Stock
• Negative Sentiment: The sharp recent decline followed weaker fourth-quarter backlog guidance, which revived fears that AI could disrupt seat-based software models and weigh on future growth. ServiceNow’s selloff and Wall Street price-target cuts
• Negative Sentiment: Management’s AI investments and business-model changes pressured operating margins, adding to investor concerns despite revenue growth. Analyst questions from ServiceNow’s Q3 earnings call

Insider Activity

In other news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline Canney sold 7,847 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares in the company, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,081 shares of company stock valued at $1,937,904. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. Barclays set a $152.00 target price on ServiceNow and gave the stock an “overweight” rating in a report on Thursday, October 29th. Truist Financial set a $150.00 price target on shares of ServiceNow and gave the company a “buy” rating in a research note on Thursday, October 29th. CLSA began coverage on shares of ServiceNow in a research report on Monday, July 20th. They set an “underperform” rating and a $72.00 price target on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $266.00 price target on shares of ServiceNow in a research report on Tuesday, October 20th. Finally, Argus reiterated a “buy” rating and issued a $170.00 price objective on shares of ServiceNow in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $154.50.

ServiceNow Stock Performance

ServiceNow stock opened at $109.09 on Wednesday. The business has a 50 day moving average of $137.87 and a 200-day moving average of $115.16. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $181.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $113.24 billion, a P/E ratio of 78.48, a P/E/G ratio of 2.03 and a beta of 1.00.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the business earned $4.82 earnings per share. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. On average, equities research analysts predict that ServiceNow, Inc. will post 2.13 earnings per share for the current year.

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.