ServiceNow, Inc. $NOW Stock Sold by WD Rutherford LLC

WD Rutherford LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 38.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,486 shares of the information technology services provider’s stock after selling 3,385 shares during the quarter. WD Rutherford LLC’s holdings in ServiceNow were worth $735,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NOW. Cornerstone Financial Management LLC boosted its holdings in ServiceNow by 72.8% during the second quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock worth $25,000 after buying an additional 107 shares in the last quarter. Marquette Asset Management LLC boosted its stake in shares of ServiceNow by 75.0% during the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 129 shares in the last quarter. Kilter Group LLC purchased a new stake in shares of ServiceNow during the 2nd quarter worth about $31,000. Solstein Capital LLC purchased a new stake in shares of ServiceNow during the 2nd quarter worth about $35,000. Finally, Main Street Group LTD acquired a new stake in shares of ServiceNow during the 1st quarter valued at about $40,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research note on Monday, August 3rd. Sanford C. Bernstein reiterated an “outperform” rating and set a $266.00 price target on shares of ServiceNow in a research report on Tuesday, October 20th. Robert W. Baird raised their price objective on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Citigroup reissued a “buy” rating and issued a $170.00 price objective (up from $154.00) on shares of ServiceNow in a report on Wednesday, October 14th. Finally, Morgan Stanley set a $180.00 price objective on ServiceNow in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.74.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Google Cloud expanded their partnership to connect ServiceNow Action Fabric with Gemini Enterprise. The integration is intended to help AI agents execute actions across enterprise workflows, strengthening ServiceNow’s position in agentic AI and potentially increasing customer adoption. ServiceNow, Google Cloud Expand Partnership to Cover Agentic AI
• Positive Sentiment: Analysts remain constructive ahead of earnings. Cantor Fitzgerald raised its price target to $201 from $174 and maintained an overweight rating, while Bank of America lifted its target to $180 and kept a buy rating. Morgan Stanley also reiterated its buy rating, citing strong execution, AI-led demand and federal-sector opportunities. Cantor Fitzgerald Price Target Bank of America Raises ServiceNow Price Target
• Neutral Sentiment: The consensus outlook calls for third-quarter revenue of approximately $4.09 billion, representing about 20% year-over-year growth. Investors are likely to focus on current remaining performance obligations (CRPO), subscription growth, AI monetization and forward guidance. ServiceNow Q3 Earnings Preview
• Negative Sentiment: ServiceNow’s recent rally has intensified valuation concerns. With a high price-to-earnings multiple, investors may already be pricing in substantial AI-driven growth. Rising costs, competition and the possibility of cautious guidance could pressure the shares if earnings fail to exceed elevated expectations. ServiceNow: The 3 Big Reasons I’m Bailing on This Stock Ahead of Earnings

Insider Activity

In related news, Director Paul Chamberlain sold 2,700 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Canney sold 7,847 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This represents 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. Insiders sold 14,081 shares of company stock worth $1,937,904 over the last three months. Insiders own 0.34% of the company’s stock.

ServiceNow Stock Down 2.1%

Shares of NOW opened at $154.84 on Wednesday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $192.97. The firm’s fifty day moving average is $138.95 and its two-hundred day moving average is $115.78.

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.