Osborne Partners Capital Management LLC Takes $9.11 Million Position in ServiceNow, Inc. $NOW

Osborne Partners Capital Management LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, HoldingsChannel reports. The firm bought 87,101 shares of the information technology services provider’s stock, valued at approximately $9,106,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. PFG Investments LLC raised its stake in shares of ServiceNow by 71.1% during the first quarter. PFG Investments LLC now owns 14,858 shares of the information technology services provider’s stock valued at $1,553,000 after purchasing an additional 6,174 shares during the period. Baer Investment Advisory LLC purchased a new position in shares of ServiceNow in the first quarter valued at $262,000. Canal Capital Management LLC boosted its stake in shares of ServiceNow by 104.4% in the first quarter. Canal Capital Management LLC now owns 6,150 shares of the information technology services provider’s stock valued at $643,000 after purchasing an additional 3,141 shares during the period. Argos Wealth Advisors LLC grew its holdings in ServiceNow by 42.1% during the 1st quarter. Argos Wealth Advisors LLC now owns 5,083 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Optas LLC grew its holdings in ServiceNow by 16.8% during the 1st quarter. Optas LLC now owns 6,233 shares of the information technology services provider’s stock valued at $652,000 after purchasing an additional 898 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy, saying AI fears have been overdone and that the stock offers meaningful upside from current levels. ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Other commentary framed ServiceNow as a “golden opportunity” for patient investors, reinforcing the view that the recent selloff may be excessive relative to its growth outlook. ServiceNow (NOW): A Golden Opportunity for Patient Investors
• Positive Sentiment: Analysts and investors continue to highlight demand for ServiceNow’s AI Control Tower and AI-enabled workflow tools, which supports the company’s long-term growth narrative. ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: Several articles discuss ServiceNow’s premium valuation, which may limit near-term upside even as growth remains solid. Does Guggenheim’s Upgrade Reframe ServiceNow (NOW) as an AI Workflow Enabler Rather Than a Disruption Risk?
• Negative Sentiment: Some reports still point to concerns about AI disruption, delayed large deal closures, acquisition-related margin pressure, and overall valuation risk, which could temper enthusiasm. ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NOW. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Morgan Stanley lowered their target price on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Canaccord Genuity Group dropped their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Monday, March 16th. Finally, Argus reduced their price target on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.68.

ServiceNow Trading Down 0.2%

NYSE NOW opened at $106.06 on Friday. The company has a market capitalization of $109.34 billion, a price-to-earnings ratio of 63.20, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. 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 12 month low of $81.24 and a 12 month high of $211.48. The company’s fifty day moving average price is $100.53 and its two-hundred day moving average price is $112.88.

ServiceNow (NYSE:NOW) last released 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. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

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.