Nicollet Investment Management Inc. Raises Holdings in ServiceNow, Inc. $NOW

Nicollet Investment Management Inc. lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 405.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,045 shares of the information technology services provider’s stock after buying an additional 16,883 shares during the quarter. Nicollet Investment Management Inc.’s holdings in ServiceNow were worth $3,224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NOW. Brighton Jones LLC boosted its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after buying an additional 34 shares during the last quarter. United Bank boosted its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after buying an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after buying an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $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.

Trending Headlines about ServiceNow

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

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following 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 SEC filing for this sale provides additional information. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last three months. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America started coverage on ServiceNow in a research note on Monday, May 18th. They issued a “buy” rating and a $130.00 target price on the stock. Citigroup increased their price target on ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company lowered their price target on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Stifel Nicolaus lowered their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Evercore increased their price target on ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $141.85.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $106.27 on Thursday. The business has a 50 day simple moving average of $99.87 and a two-hundred day simple moving average of $120.59. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a market capitalization of $109.57 billion, a P/E ratio of 63.33, a PEG ratio of 1.77 and a beta of 0.94. 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 (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 2.35 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.