ServiceNow, Inc. $NOW Shares Bought by Western Wealth Management LLC

Western Wealth Management LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 307.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,493 shares of the information technology services provider’s stock after acquiring an additional 10,935 shares during the quarter. Western Wealth Management LLC’s holdings in ServiceNow were worth $2,220,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. Jennison Associates LLC lifted its stake in ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock valued at $1,291,758,000 after buying an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock worth $720,325,000 after buying an additional 3,743,087 shares during the period. Pictet Asset Management Holding SA increased its position in shares of ServiceNow by 613.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock worth $588,326,000 after acquiring an additional 3,301,962 shares in the last quarter. Finally, Swedbank AB increased its position in shares of ServiceNow by 326.9% in the fourth quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider’s stock worth $523,243,000 after acquiring an additional 2,615,500 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi to improve real-time data activation across enterprise systems, strengthening its positioning as a platform for agentic AI and workflow automation. ServiceNow and Boomi partner for data activation
• Positive Sentiment: FedEx is deepening its ServiceNow relationship with a procurement integration, a sign that major enterprise customers are broadening use of the platform and could drive more recurring revenue. FedEx advances ServiceNow partnership with procurement integration
• Positive Sentiment: ServiceNow and Accenture launched an engineering program to scale agentic AI for enterprise clients, which supports the company’s AI growth narrative and suggests more commercialization of its platform. ServiceNow (NOW), Accenture Launch Engineering Program to Scale Agentic AI for Enterprises
• Positive Sentiment: Several articles highlighted ServiceNow as an attractive AI/software name, with commentary suggesting the recent sell-off may be overdone and that investors are focusing on the stock’s long-term AI upside. 1 Incredible Artificial Intelligence (AI) Stock to Buy After Its Post-Earnings Sell-Off
• Neutral Sentiment: Analyst and media coverage remains mixed but generally constructive, with pieces debating whether the market is underestimating the impact of AI on ServiceNow’s business. ServiceNow: The Market Is Misunderstanding The Effects Of AI
• Negative Sentiment: A bearish options trade and commentary about further downside show that some traders still expect weakness, reflecting lingering pressure on the stock after its post-earnings decline. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
• Negative Sentiment: An insider sale by Paul Fipps was disclosed, which can add to short-term caution even though it was small and made under a pre-arranged trading plan. SEC insider filing for Paul Fipps

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the sale, the insider directly owned 11,757 shares of the company’s stock, valued at $1,245,419.01. This trade represents a 45.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,415 shares of company stock worth $2,210,933 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reduced their price target on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Wells Fargo & Company lowered their price objective on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Truist Financial cut their target price on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, Benchmark assumed coverage on ServiceNow in a report on Wednesday, April 1st. They set a “buy” rating and a $125.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.71.

ServiceNow Stock Up 4.0%

NOW stock opened at $90.56 on Friday. The company has a 50 day moving average of $100.89 and a two-hundred day moving average of $129.31. The company has a market cap of $93.37 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 1.54 and a beta of 0.82. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month 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.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the company posted $0.81 EPS. ServiceNow’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

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.