Stephens Inc. AR grew its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 434.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 30,477 shares of the information technology services provider’s stock after purchasing an additional 24,778 shares during the quarter. Stephens Inc. AR’s holdings in ServiceNow were worth $4,669,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of NOW. IAG Wealth Partners LLC grew its holdings in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares in the last quarter. Noble Wealth Management PBC grew its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC grew its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 132 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in shares of ServiceNow in the 4th quarter valued at about $26,000. Finally, Albion Financial Group UT grew its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 136 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.
ServiceNow News Summary
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 Trading Up 0.1%
ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the company posted $0.81 earnings per share. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have issued reports on NOW. Truist Financial dropped their price target on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Robert W. Baird dropped their price target on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. UBS Group set a $150.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.71.
Check Out Our Latest Research Report on ServiceNow
Insider Activity at ServiceNow
In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction that occurred on 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 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,415 shares of company stock valued at $2,210,933 over the last 90 days. Company insiders own 0.34% of the company’s stock.
ServiceNow 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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