Clearstead Trust LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 374.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,549 shares of the information technology services provider’s stock after purchasing an additional 15,427 shares during the period. Clearstead Trust LLC’s holdings in ServiceNow were worth $2,995,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. IAG Wealth Partners LLC grew its stake in ServiceNow by 200.0% in the 3rd 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 during the period. Wealth Watch Advisors INC purchased a new stake in ServiceNow in the 3rd quarter worth approximately $29,000. Texas Capital Bancshares Inc TX purchased a new stake in ServiceNow in the 3rd quarter worth approximately $37,000. Ameriflex Group Inc. grew its stake in ServiceNow by 187.5% in 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 period. Finally, Kelleher Financial Advisors purchased a new stake in ServiceNow in the 3rd quarter worth approximately $50,000. 87.18% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Stock Down 0.0%
Shares of NOW opened at $102.13 on Monday. The firm has a market cap of $105.29 billion, a PE ratio of 60.86, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The company’s fifty day moving average is $98.74 and its two-hundred day moving average is $125.73. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.
Analyst Ratings Changes
Several analysts have commented on NOW shares. Capital One Financial lifted their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Truist Financial lowered their target price on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Benchmark started coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They issued a “buy” rating and a $125.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, Cantor Fitzgerald lowered their target price on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $141.85.
Check Out Our Latest Stock Analysis on NOW
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
- Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
- Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
- Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
- Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
- Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target
Insider Activity at ServiceNow
In related news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% 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 have sold 28,071 shares of company stock worth $2,529,956 in the last 90 days. Company insiders own 0.34% of the company’s stock.
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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