Siemens Fonds Invest GmbH raised its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 397.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,975 shares of the information technology services provider’s stock after purchasing an additional 24,753 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in ServiceNow were worth $4,777,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased 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 buying an additional 30 shares during the period. Sivia Capital Partners LLC grew its holdings in ServiceNow by 4.2% in the 2nd 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 holdings in ServiceNow by 15.5% in the 2nd 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. increased its position 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 valued at $1,976,000 after acquiring an additional 42 shares during the period. Finally, Nebula Research & Development LLC raised its stake 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 acquiring an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Insider Buying and Selling at ServiceNow
In related news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction dated 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 directly owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. 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 in the last quarter. 0.34% of the stock is owned by insiders.
ServiceNow Trading Down 2.6%
ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. BTIG Research restated a “buy” rating and set a $150.00 price target on shares of ServiceNow in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Robert W. Baird dropped their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $142.17.
View Our Latest Stock Analysis on NOW
Key Headlines Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling confidence in further upside after recent analyst conversations. Street Insider article
- Positive Sentiment: ServiceNow announced or expanded AI-focused partnerships with Cognizant and Wipro to help enterprises move from AI pilots to full-scale deployment, which supports the company’s growth narrative around agentic AI workflows. Cognizant partnership article Wipro partnership article
- Positive Sentiment: Recent coverage also noted that ServiceNow has gained more than 16% over the past month, suggesting improving investor sentiment around its AI and enterprise workflow strategy. Yahoo Finance article
- Neutral Sentiment: Market articles highlighted ServiceNow’s recent outperformance versus the broader market in a prior session, but did not point to a new company-specific catalyst. MarketBeat/Zacks article
- Neutral Sentiment: Some commentary compared ServiceNow unfavorably with Salesforce on valuation and earnings momentum, which may keep pressure on the stock’s multiple. Zacks article
- Negative Sentiment: A report about a ServiceNow security breach exposing enterprise customer data could raise concerns about trust, compliance, and customer retention. CPO Magazine article
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.
Featured Stories
- Five stocks we like better than ServiceNow
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).
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.
