Portfolio Design Labs LLC Increases Stake in ServiceNow, Inc. $NOW

Portfolio Design Labs LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 437.1% during the 4th quarter, HoldingsChannel reports. The fund owned 8,088 shares of the information technology services provider’s stock after buying an additional 6,582 shares during the period. Portfolio Design Labs LLC’s holdings in ServiceNow were worth $1,239,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $2,020,992,000. Capital International Investors increased its stake in shares of ServiceNow by 396.0% in the fourth quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock worth $1,592,310,000 after buying an additional 8,297,818 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in ServiceNow by 404.3% during the fourth quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock worth $1,279,416,000 after buying an additional 6,695,802 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, 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. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Down 0.7%

Shares of NYSE:NOW opened at $106.27 on Thursday. The firm’s 50-day moving average is $99.87 and its two-hundred day moving average is $120.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The firm has a market capitalization of $109.57 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its quarterly 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. The company had revenue of $3.77 billion for 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%.ServiceNow’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 EPS. Analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Barclays reissued an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Cantor Fitzgerald dropped their price target on shares of ServiceNow to $122.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Finally, Citic Securities lowered their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.85.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new AI hiring-agent partnership with Phenom, which could strengthen its workplace automation offerings and support future enterprise demand. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, pointing to AI growth, pricing power, and a potential long-term revenue path that supports the investment case. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow and NICE launched an AI solution linking customer engagement with enterprise workflows, a partnership that could deepen the company’s platform value and expand use cases. ServiceNow NICE AI Alliance Links Customer Engagement To Core Workflows
• Neutral Sentiment: Zacks said investors have been heavily searching for ServiceNow, highlighting elevated trader interest, but the note did not include a major fundamental catalyst. Investors Heavily Search ServiceNow, Inc. (NOW): Here is What You Need to Know
• Neutral Sentiment: Jim Cramer said ServiceNow is “expensive,” reinforcing valuation concerns that may be limiting upside even as the business remains strong. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: TechCrunch reported that a bug exposed some customer data to the internet, and other security articles said the vulnerability was exploited against some customers. That raises a potential trust and compliance risk for the platform. ServiceNow tells customers a bug left some of their data exposed to the internet

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.