Element Capital Management LLC Acquires New Position in ServiceNow, Inc. $NOW

Element Capital Management LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,380 shares of the information technology services provider’s stock, valued at approximately $977,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NOW. Meridian Wealth Advisors LLC grew its stake in ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after buying an additional 12 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after acquiring an additional 13 shares during the period. JT Stratford LLC grew its position in shares of ServiceNow by 3.5% in the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after purchasing an additional 13 shares in the last quarter. Abbot Financial Management Inc. raised its stake in shares of ServiceNow by 2.9% during the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock valued at $462,000 after purchasing an additional 14 shares during the period. Finally, Cozad Asset Management Inc. raised its stake in shares of ServiceNow by 6.7% during the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock valued at $205,000 after purchasing an additional 14 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on NOW shares. Bank of America began coverage on ServiceNow in a research note on Monday, May 18th. They issued a “buy” rating and a $130.00 target price for the company. Stifel Nicolaus reduced their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Monday, March 16th. Finally, Weiss Ratings lowered shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. One research 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 issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.17.

ServiceNow Trading Down 6.0%

Shares of NOW stock opened at $95.20 on Thursday. The business has a 50-day moving average price of $99.69 and a two-hundred day moving average price of $118.44. 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. The firm has a market cap of $98.15 billion, a P/E ratio of 56.73, a price-to-earnings-growth ratio of 1.67 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the company earned $0.81 EPS. The company’s revenue was up 22.1% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: The Hackett Group joined the ServiceNow Partner Program to help enterprises speed up ROI-driven AI transformation using Hackett AI XPLR and the ServiceNow AI Platform, which could support future platform adoption and consulting-driven growth. The Hackett Group® Partners with ServiceNow to Help Enterprises Accelerate ROI-based AI Transformation
• Positive Sentiment: ServiceNow’s expanded partnership with Wipro to deploy agentic AI workflows at scale suggests continued momentum in enterprise AI adoption, which investors may view as a driver of longer-term revenue growth. ServiceNow (NOW): A Wipro Partnership to Close the Gap Between AI Pilots and Full Enterprise Deployment
• Positive Sentiment: A recent collaboration with Cognizant on AI governance also reinforces ServiceNow’s positioning as an enterprise AI workflow and compliance platform, a theme that has supported the stock’s recent recovery attempts. ServiceNow Inc (NOW) Teams Up With Cognizant on AI Governance
• Neutral Sentiment: Commentary from an investor letter noted that ServiceNow has benefited from growing adoption of AI-native solutions, but this is more of a broader thesis update than a new catalyst. ServiceNow (NOW) Slid Amid Growing Adoption of AI-Native Solutions
• Negative Sentiment: A report claiming a ServiceNow security breach exposed enterprise customer data could weigh on investor confidence if the issue proves credible, since trust and security are key to the company’s enterprise software business. ServiceNow Security Breach Exposes Enterprise Customer Data

Insider Buying and Selling at ServiceNow

In other 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 directly owned 29,531 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% 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. Over the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

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.