Havemeyer Place LP Makes New Investment in ServiceNow, Inc. $NOW

Havemeyer Place LP acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,081 shares of the information technology services provider’s stock, valued at approximately $7,366,000. ServiceNow makes up approximately 1.5% of Havemeyer Place LP’s portfolio, making the stock its 2nd biggest holding.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of ServiceNow during the fourth quarter worth $2,020,992,000. Cohen Klingenstein LLC grew its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares during the last quarter. World Investment Advisors grew its holdings in shares of ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after purchasing an additional 38,583 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $112.45 on Friday. The business’s 50-day simple moving average is $99.48 and its 200 day simple moving average is $122.03. The stock has a market cap of $115.94 billion, a price-to-earnings ratio of 67.02, a P/E/G ratio of 1.86 and a beta of 0.94. 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.81 earnings per share. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm’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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on NOW shares. HSBC decreased their target price on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Canaccord Genuity Group decreased their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. DA Davidson reiterated a “buy” rating and issued a $190.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. The Goldman Sachs Group decreased their price target on ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow News Roundup

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

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.