Three Seasons Wealth LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 74.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,948 shares of the information technology services provider’s stock after purchasing an additional 5,547 shares during the quarter. Three Seasons Wealth LLC’s holdings in ServiceNow were worth $1,354,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Noble Wealth Management PBC lifted 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 acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Blueline Advisors LLC bought a new stake in ServiceNow during the 4th quarter worth $25,000. Finally, Measured Wealth Private Client Group LLC increased its holdings in ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.
ServiceNow Trading Down 0.1%
NYSE NOW opened at $104.78 on Thursday. The firm has a market capitalization of $108.03 billion, a PE ratio of 62.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The business’s 50-day moving average price is $103.52 and its two-hundred day moving average price is $109.98. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20.
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: BNP Paribas said ServiceNow has a “constructive setup” for Q2 results, pointing to conservative guidance and improving demand — including healthier federal demand — that could set up an earnings beat. ServiceNow offers ‘constructive setup’ going into Q2 results, BNP says
- Positive Sentiment: UBS raised its price target on NOW to $115 and kept a neutral rating, saying demand trends appear stable and implying some upside from current levels. UBS price target raise
- Positive Sentiment: Several commentary pieces argue the market may be too pessimistic on ServiceNow, with some analysts framing AI as an opportunity rather than a threat and noting the company is raising its AI monetization targets. ServiceNow (NOW) Is Raising Its AI Targets As Investors Shift Toward Software
- Neutral Sentiment: Some pre-earnings notes say ServiceNow may not have the “right combination” for a clear beat, so expectations remain cautious heading into next week’s report. ServiceNow (NOW) Earnings Expected to Grow
- Negative Sentiment: NOW was also dragged lower by a broader software selloff after IBM warned that clients are shifting spending toward servers and cybersecurity, which raised concerns across enterprise software stocks. IBM Plunge Triggers Tech Stock Selloff After Revenue Miss Warning
Insider Activity
In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities analysts have commented on the company. Canaccord Genuity Group dropped their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Citizens Jmp restated a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research note on Wednesday. The Goldman Sachs Group reiterated a “buy” rating and issued a $145.00 price objective (down from $163.00) on shares of ServiceNow in a report on Wednesday, July 8th. Finally, Piper Sandler cut their target price on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.80.
View Our Latest Stock Report on 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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