Riverbridge Partners LLC Boosts Holdings in ServiceNow, Inc. $NOW

Riverbridge Partners LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 16.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 549,784 shares of the information technology services provider’s stock after buying an additional 75,942 shares during the period. ServiceNow makes up approximately 1.4% of Riverbridge Partners LLC’s portfolio, making the stock its 21st largest position. Riverbridge Partners LLC owned about 0.05% of ServiceNow worth $57,480,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after purchasing an additional 34 shares during the last quarter. United Bank raised 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 valued at $1,562,000 after buying an additional 204 shares during the period. Riggs Asset Managment Co. Inc. raised its holdings in ServiceNow by 2.2% in the 2nd 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 buying an additional 42 shares during the period. Finally, Nebula Research & Development LLC lifted its position in ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after buying an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Raymond James said ServiceNow may be raising prices faster than management’s guidance suggests, which could boost near-term revenue and support longer-term high-margin growth. Raymond James sees ServiceNow pricing power driving high-margin growth
• Positive Sentiment: Analysts continue to view NOW favorably overall, with Wall Street still seeing substantial upside in the stock despite concerns about AI-related competition. Wall Street expects ServiceNow stock to gain 52%, despite AI threat
• Positive Sentiment: ServiceNow’s partnership activity is reinforcing the company’s AI growth narrative, including a new “agentic BSS” launch with Aria Systems and broader enterprise AI adoption efforts with Inspira and IBM. Aria Systems, ServiceNow (NOW) Launch World’s First Agentic BSS for Communication Service Providers
• Positive Sentiment: Recent coverage says beaten-down software stocks are rebounding, helping lift ServiceNow along with the broader group. What’s Going On With The Boost In ServiceNow Stock?
• Neutral Sentiment: Several articles today were largely commentary or valuation pieces, including comparisons with other enterprise software names and guidance on how to buy NOW, which may support sentiment but do not add new company-specific fundamentals. Wall Street Analysts Think ServiceNow (NOW) Is a Good Investment: Is It?
• Negative Sentiment: Some recent trading updates note that NOW had fallen earlier and has been pressured by broader weakness in enterprise software, suggesting sentiment remains fragile even as the stock rebounds. ServiceNow (NOW) Suffers a Larger Drop Than the General Market: Key Insights

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. TD Cowen restated a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Evercore increased their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. BTIG Research reiterated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a report on Monday, May 4th. Finally, Weiss Ratings lowered ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction 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 directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 over the last ninety days. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Up 3.3%

Shares of NOW stock opened at $96.07 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $99.05 billion, a P/E ratio of 57.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. The company has a 50 day moving average price of $99.89 and a 200 day moving average price of $116.48. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 2.34 EPS 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.