3,841 ServiceNow, Inc. $NOW Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.4% in the third quarter, Holdings Channel reports. The fund owned 262,324 shares of the information technology services provider’s stock after selling 3,841 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ServiceNow were worth $35,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cornerstone Financial Management LLC grew its position in ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 107 shares during the last quarter. CrossGen Wealth LLC acquired a new position in shares of ServiceNow during the first quarter valued at about $29,000. Marquette Asset Management LLC raised its position in shares of ServiceNow by 75.0% during the second quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 129 shares during the last quarter. Kilter Group LLC acquired a new position in shares of ServiceNow during the second quarter valued at about $31,000. Finally, Solstein Capital LLC bought a new stake in shares of ServiceNow in the second quarter valued at about $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In related news, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the transaction, the director owned 43,990 shares of the company’s stock, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 7,847 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,081 shares of company stock worth $1,937,904. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Benchmark reissued a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. BTIG Research restated a “buy” rating and set a $170.00 price target on shares of ServiceNow in a research note on Monday, October 12th. UBS Group set a $165.00 price target on ServiceNow in a report on Monday. Barclays reaffirmed an “overweight” rating and issued a $160.00 price target (up from $134.00) on shares of ServiceNow in a report on Tuesday, October 13th. Finally, Truist Financial set a $180.00 price objective on ServiceNow and gave the stock a “buy” rating in a research report on Wednesday. One investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $153.90.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and NVIDIA launched Arc, an AI agent designed for enterprise and Mac workflows. The partnership strengthens ServiceNow’s position in AI orchestration and could support adoption of its platform across corporate environments. ServiceNow and Nvidia launch Arc, a new AI agent for enterprise
• Positive Sentiment: ServiceNow’s AI-related contract value has reportedly surpassed $1 billion, reinforcing the view that its AI products are moving from experimentation toward meaningful monetization. The stock has rallied sharply over the past three months as investors anticipate further enterprise demand. ServiceNow Rallies 43% in Three Months as AI Contract Value Tops $1 Billion
• Positive Sentiment: Analysts have raised price targets ahead of ServiceNow’s October 28 earnings report. Bernstein set a Street-high $266 target, while Piper Sandler and TD Cowen also increased targets, citing AI-driven workflow tools, customer upgrades and federal demand. ServiceNow Orchestrates AI’s Next Act—Can Earnings Deliver?
• Neutral Sentiment: Investors are focused on the upcoming quarterly report. ServiceNow’s latest quarter showed 24% revenue growth to approximately $3.99 billion and an earnings beat, but some forecasts call for a single-digit earnings decline in the next report, raising the bar for continued upside. ServiceNow’s Quarterly Earnings Preview
• Negative Sentiment: Zacks Research downgraded ServiceNow from “hold” to “strong sell,” adding pressure ahead of earnings. The downgrade reflects concerns that expectations may already discount much of the AI opportunity.
• Negative Sentiment: ServiceNow may need stronger cash flow to finance its AI expansion. With a roughly 96 price-to-earnings ratio and current and quick ratios near 0.70, the stock remains vulnerable if AI investments do not translate into accelerating profits and cash generation. ServiceNow Needs Stronger Cash Flow to Support Its AI Expansion

ServiceNow Trading Up 2.4%

Shares of ServiceNow stock opened at $153.08 on Thursday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $192.97. The firm has a market capitalization of $158.29 billion, a PE ratio of 78.38, a price-to-earnings-growth ratio of 2.75 and a beta of 0.99. 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 fifty day moving average price is $136.57 and its two-hundred day moving average price is $114.70.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. On average, analysts expect that ServiceNow, Inc. will post 2.22 EPS for the current year.

ServiceNow Profile

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.