TD Private Client Wealth LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 309.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,333 shares of the information technology services provider’s stock after buying an additional 6,298 shares during the quarter. TD Private Client Wealth LLC’s holdings in ServiceNow were worth $1,277,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. IAG Wealth Partners LLC raised its stake in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares in the last quarter. Noble Wealth Management PBC boosted its stake 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 purchasing 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 worth $25,000 after purchasing an additional 132 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of ServiceNow in the 4th quarter worth about $26,000. Finally, Albion Financial Group UT increased its position in shares of ServiceNow by 400.0% during the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on NOW shares. Truist Financial cut their price target on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Bank of America began coverage on shares of ServiceNow in a research note on Monday. They set a “buy” rating and a $130.00 price objective on the stock. FBN Securities cut their target price on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. The Goldman Sachs Group reduced their target price on ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Benchmark began coverage on ServiceNow in a research report on Wednesday, April 1st. They set a “buy” rating and a $125.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.89.
Insider Transactions at ServiceNow
In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. The trade was a 31.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,767 shares of company stock worth $2,906,098 in the last quarter. 0.34% of the stock is owned by corporate insiders.
ServiceNow Trading Down 1.7%
NOW opened at $101.71 on Wednesday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The stock has a market capitalization of $104.86 billion, a PE ratio of 60.61, a PEG ratio of 1.76 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $99.72 and a two-hundred day moving average price of $127.48.
ServiceNow (NYSE:NOW – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.
Key Headlines Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
- Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
- Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
- Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
- Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns
About ServiceNow
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.
Read More
- Five stocks we like better than ServiceNow
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.
