ServiceNow, Inc. $NOW Stock: Knights of Columbus Asset Advisors LLC Grows Holdings

Knights of Columbus Asset Advisors LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 906.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,428 shares of the information technology services provider’s stock after acquiring an additional 49,918 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in ServiceNow were worth $7,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. Cornerstone Financial Management LLC raised its stake in ServiceNow by 72.8% in the second quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 107 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in ServiceNow during the third quarter worth about $38,000. Marquette Asset Management LLC grew its stake in ServiceNow by 75.0% during the second quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock worth $30,000 after buying an additional 129 shares in the last quarter. Kilter Group LLC acquired a new stake in ServiceNow during the second quarter worth about $31,000. Finally, Solstein Capital LLC bought a new position in ServiceNow in the 2nd quarter valued at about $35,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly 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 SEC, which can be accessed through this hyperlink. Also, insider Jacqueline Canney sold 7,847 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the transaction, the insider owned 30,042 shares in the company, valued at $4,145,796. The trade was a 20.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 15,370 shares of company stock valued at $2,068,995. Corporate insiders own 0.34% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Kyndryl and ServiceNow launched a jointly developed autonomous-operations offering on the ServiceNow Store. The AI-powered product is designed to improve productivity and automate IT issue resolution, supporting the case for ServiceNow’s AI opportunity. Kyndryl expands partnership with ServiceNow
• Positive Sentiment: Broward County, Florida, has gone live with ServiceNow’s IT Service Management and Workflow Data Fabric, providing a concrete public-sector deployment that may help demonstrate customer adoption of its workflow platform. Broward County selects ServiceNow
• Neutral Sentiment: Institutional ownership reports were mixed: 71 West Capital Partners increased its stake, while Alps Advisors reduced its position. These filings reflect differing investor views and may have limited near-term significance. 71 West Capital Partners increases stake
• Negative Sentiment: Shares weakened as Anthropic introduced new Claude tools, renewing fears that AI products could intensify competition or erode demand for enterprise software. The concern is part of a broader slide in software stocks. ServiceNow stock drops amid Anthropic’s new AI tools
• Negative Sentiment: Reports describe a steep recent decline, with investors still reacting to the October quarterly results: revenue exceeded estimates and grew year over year, but EPS came in slightly below consensus. A Pomerantz law firm investigation into potential investor claims adds another source of uncertainty, although an investigation is not a finding of wrongdoing. Pomerantz investigation notice

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of ServiceNow from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, October 29th. Evercore reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, October 13th. KeyCorp restated an “underweight” rating and set a $110.00 price objective (up from $85.00) on shares of ServiceNow in a research report on Thursday, October 29th. Oppenheimer restated an “outperform” rating and set a $165.00 target price on shares of ServiceNow in a research note on Thursday, October 29th. Finally, Needham & Company LLC raised their target price on ServiceNow from $115.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.50.

ServiceNow Price Performance

NOW stock opened at $99.35 on Wednesday. The company has a fifty day moving average price of $134.49 and a 200-day moving average price of $114.55. The company has a market capitalization of $103.13 billion, a P/E ratio of 71.48, a PEG ratio of 2.01 and a beta of 1.00. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $175.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $4.82 EPS. ServiceNow’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities analysts expect that ServiceNow, Inc. will post 2.12 EPS for the current year.

About ServiceNow

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.