Intech Investment Management LLC Increases Stock Position in ServiceNow, Inc. $NOW

Intech Investment Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 411.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,320 shares of the information technology services provider’s stock after acquiring an additional 37,272 shares during the period. Intech Investment Management LLC’s holdings in ServiceNow were worth $7,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Meridian Wealth Advisors LLC grew its position in shares of ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after acquiring an additional 12 shares during the last quarter. Valley Brook Capital Group Inc. grew its position in shares of ServiceNow by 2.1% during the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock worth $583,000 after acquiring an additional 13 shares during the last quarter. Catalyst Financial Partners LLC grew its position in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after buying an additional 13 shares during the last quarter. JT Stratford LLC grew its position in ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after buying an additional 13 shares during the last quarter. Finally, Abbot Financial Management Inc. grew its position in ServiceNow by 2.9% in the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock valued at $462,000 after buying an additional 14 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow News Roundup

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)

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 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 directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% 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. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NOW shares. Evercore lifted their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. BTIG Research reiterated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research report on Monday, May 4th. Truist Financial lowered their price objective on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Citigroup lifted their price objective on shares of ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.85.

ServiceNow Trading Up 14.6%

NYSE:NOW opened at $124.56 on Friday. The company has a market capitalization of $128.42 billion, a PE ratio of 74.23, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. 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 stock has a fifty day simple moving average of $98.05 and a 200-day simple moving average of $123.74.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 2.36 earnings per share for the current fiscal year.

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.