Landscape Capital Management L.L.C. Invests $2.38 Million in ServiceNow, Inc. $NOW

Landscape Capital Management L.L.C. bought a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,967 shares of the information technology services provider’s stock, valued at approximately $2,379,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covenant Asset Management LLC raised its holdings in 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 valued at $3,196,000 after buying an additional 13,114 shares during the period. Norges Bank bought a new position in ServiceNow during the fourth quarter valued at $2,020,992,000. World Investment Advisors increased its position in ServiceNow by 411.7% during the fourth 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 last quarter. Moors & Cabot Inc. raised its stake in shares of ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after acquiring an additional 36,274 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of ServiceNow by 53.3% in the first 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 acquiring an additional 353,749 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 0.8%

NOW stock opened at $128.73 on Friday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The firm’s 50-day moving average is $108.88 and its 200 day moving average is $105.74. The company has a market capitalization of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. The company 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 firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. On average, research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

Key Stories Impacting ServiceNow

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $140.00 price target (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Bank of America increased their price objective on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley set a $180.00 target price on ServiceNow in a research report on Tuesday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus 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 that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

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.