World Investment Advisors Acquires 38,583 Shares of ServiceNow, Inc. $NOW

World Investment Advisors grew its holdings in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 411.7% during the 4th quarter, HoldingsChannel reports. The fund owned 47,955 shares of the information technology services provider’s stock after acquiring an additional 38,583 shares during the quarter. World Investment Advisors’ holdings in ServiceNow were worth $7,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NOW. IAG Wealth Partners LLC increased its holdings in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after buying an additional 18 shares during the period. Bogart Wealth LLC boosted its holdings in ServiceNow by 93.8% during the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 15 shares during the period. Wealth Watch Advisors INC purchased a new stake in ServiceNow during the 3rd quarter valued at about $29,000. Texas Capital Bancshares Inc TX bought a new position in ServiceNow during the 3rd quarter worth approximately $37,000. Finally, Ameriflex Group Inc. grew its position in ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 30 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. HSBC lowered their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. BNP Paribas Exane upgraded shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Monday, March 16th. JPMorgan Chase & Co. dropped their price target on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Macquarie Infrastructure cut their price target on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Finally, Weiss Ratings cut shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.71.

Check Out Our Latest Research Report on NOW

ServiceNow Stock Performance

Shares of NOW stock opened at $87.11 on Thursday. The stock has a fifty day moving average of $101.35 and a 200 day moving average of $129.98. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The firm has a market capitalization of $89.81 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 1.58 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOWGet Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

  • Positive Sentiment: ServiceNow expanded its partnership with Boomi and launched the Workflow Data Network Passport Program, which should improve real-time data activation across enterprise systems and strengthen its pitch as an AI “control tower” for large customers. ServiceNow And Boomi Deepen Ties To Power AI Control Tower Ambitions
  • Positive Sentiment: ServiceNow was also highlighted in a roundup of top agentic AI stocks, signaling that market watchers continue to see upside in the company’s AI platform positioning. 5 Best Agentic AI Stocks to Buy Right Now
  • Positive Sentiment: Analyst and media coverage remains constructive overall, with ServiceNow repeatedly showing up in “buy now” and featured stock lists, which can support sentiment around the name. Is Trending Stock ServiceNow, Inc. (NOW) a Buy Now?
  • Neutral Sentiment: A small insider sale by Paul Fipps was disclosed, but it was done under a pre-arranged 10b5-1 plan and is unlikely to be a major trading signal. SEC insider filing for Paul Fipps
  • Negative Sentiment: Some investors may also be weighing broader concerns around valuation and financing after reports that ServiceNow plans a large bond sale, which could temper enthusiasm despite the company’s solid operating momentum. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares in the company, valued at $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider directly owned 26,314 shares in the company, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,815 shares of company stock valued at $2,358,927. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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