Taylor Hoffman Capital Management LLC raised its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 399.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,270 shares of the information technology services provider’s stock after acquiring an additional 6,615 shares during the period. Taylor Hoffman Capital Management LLC’s holdings in ServiceNow were worth $1,267,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of NOW. Brighton Jones LLC grew its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after acquiring an additional 34 shares during the last quarter. United Bank grew its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after acquiring an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after acquiring an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its position in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after buying an additional 609 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.
Key Headlines Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
- Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
- Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
- Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
- Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
- Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
- Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
- Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title
Insiders Place Their Bets
ServiceNow Stock Down 5.8%
NYSE NOW opened at $112.45 on Friday. The stock’s 50-day moving average price is $99.48 and its 200-day moving average price is $122.03. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a market capitalization of $115.94 billion, a P/E ratio of 67.02, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, equities research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.
Analyst Ratings Changes
NOW has been the topic of several recent analyst reports. Raymond James Financial dropped their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Stifel Nicolaus dropped their price objective on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. BMO Capital Markets dropped their price objective on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on ServiceNow in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $141.85.
Get Our Latest Stock Report on NOW
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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