Riverbridge Partners LLC Grows Stock Holdings in ServiceNow, Inc. $NOW

Riverbridge Partners LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 16.0% during the 1st quarter, according to its most recent disclosure 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 quarter. ServiceNow makes up about 1.4% of Riverbridge Partners LLC’s holdings, making the stock its 21st largest position. Riverbridge Partners LLC’s holdings in ServiceNow were worth $57,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares in the last quarter. Sivia Capital Partners LLC raised 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 acquiring an additional 34 shares in the last quarter. United Bank lifted its stake in ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in ServiceNow by 2.2% during 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 purchasing an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its holdings 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 purchasing an additional 609 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Jefferies Financial Group restated a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. HSBC dropped their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Bank of America assumed coverage on shares of ServiceNow in a research report on Monday, May 18th. They issued a “buy” rating and a $130.00 price target for the company. Finally, Morgan Stanley decreased their price objective on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $142.17.

Trending Headlines about ServiceNow

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

ServiceNow Stock Up 3.3%

NOW stock opened at $96.07 on Wednesday. The company has a market cap of $99.05 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. The company has a fifty day moving average price of $99.89 and a 200 day moving average price of $116.48. 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.

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. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 16,445 shares of the 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 sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The shares were 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 in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

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.