Terra Alpha Investments LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 390.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,415 shares of the information technology services provider’s stock after buying an additional 16,252 shares during the quarter. ServiceNow accounts for about 3.2% of Terra Alpha Investments LLC’s holdings, making the stock its 15th biggest position. Terra Alpha Investments LLC’s holdings in ServiceNow were worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in NOW. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares during the period. Jennison Associates LLC raised its holdings in shares of ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares during the period. Nordea Investment Management AB raised its holdings in shares of ServiceNow by 388.7% during the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock valued at $720,325,000 after purchasing an additional 3,743,087 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of ServiceNow by 613.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock valued at $588,326,000 after purchasing an additional 3,301,962 shares during the period. Finally, Swedbank AB raised its holdings in shares of ServiceNow by 326.9% during the fourth quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider’s stock valued at $523,243,000 after purchasing an additional 2,615,500 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.
ServiceNow Trading Up 5.1%
NOW opened at $95.15 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm has a market capitalization of $98.10 billion, a PE ratio of 56.71, a P/E/G ratio of 1.60 and a beta of 0.82. The company’s 50-day moving average is $100.52 and its 200 day moving average is $129.07.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on NOW. Argus dropped their price objective on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Canaccord Genuity Group dropped their price objective on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. DA Davidson reiterated a “buy” rating and set a $190.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, HSBC dropped their price objective on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $144.71.
Insider Activity
In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Fipps sold 3,696 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. This trade represents a 31.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 22,415 shares of company stock valued at $2,210,933. Company insiders own 0.34% of the company’s stock.
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
- Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
- Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
- Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow’s Top-Line Growth?
- Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
ServiceNow Company 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.
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