X Square Capital LLC Buys New Shares in ServiceNow, Inc. $NOW

X Square Capital LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 49,555 shares of the information technology services provider’s stock, valued at approximately $4,920,000. ServiceNow comprises about 1.2% of X Square Capital LLC’s portfolio, making the stock its 21st biggest holding.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of ServiceNow in the 2nd quarter valued at about $9,536,615,000. Vanguard Group Inc. increased its holdings in ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. State Street Corp lifted its stake in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after buying an additional 25,517,218 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after buying an additional 18,854,775 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. TD Cowen reiterated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Monday, August 17th. CLSA began coverage on shares of ServiceNow in a report on Monday, July 20th. They issued an “underperform” rating and a $72.00 price target for the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, UBS Group set a $248.00 price objective on shares of ServiceNow 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 issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.24.

More ServiceNow News

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

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the transaction, the director owned 46,690 shares in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Trading Down 0.8%

NOW opened at $128.73 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The firm 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. The company’s 50-day moving average is $108.88 and its 200 day moving average is $105.74.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The business 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 quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

About ServiceNow

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.