Ellevest Inc. increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 371.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,131 shares of the information technology services provider’s stock after buying an additional 4,830 shares during the quarter. Ellevest Inc.’s holdings in ServiceNow were worth $939,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. IAG Wealth Partners LLC increased its holdings in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares in the last quarter. Noble Wealth Management PBC increased its holdings in ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares in the last quarter. Millstone Evans Group LLC increased its holdings in ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the period. Finally, Blueline Advisors LLC acquired a new position in ServiceNow in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Insider Buying and Selling at ServiceNow
In other 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 directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.
ServiceNow Price Performance
ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 2.36 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on NOW shares. Wells Fargo & Company reduced their price target on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Truist Financial reduced their price target on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. The Goldman Sachs Group reduced their price target on ServiceNow from $188.00 to $163.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus 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: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
- Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow’s stock soars toward historic month as AI fears fade across software
- Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
- Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
- Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume (NYSE:NOW)
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.
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