ServiceNow, Inc. $NOW Shares Acquired by Quantum Private Wealth LLC

Quantum Private Wealth LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 401.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,867 shares of the information technology services provider’s stock after acquiring an additional 14,303 shares during the quarter. ServiceNow makes up about 0.8% of Quantum Private Wealth LLC’s investment portfolio, making the stock its 25th biggest position. Quantum Private Wealth LLC’s holdings in ServiceNow were worth $2,737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Adell Harriman & Carpenter Inc. raised its position in shares of ServiceNow by 385.0% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 5,160 shares of the information technology services provider’s stock valued at $790,000 after acquiring an additional 4,096 shares in the last quarter. Northbridge Financial Group LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $1,119,000. Investment House LLC raised its position in shares of ServiceNow by 173.4% during the 4th quarter. Investment House LLC now owns 1,840 shares of the information technology services provider’s stock valued at $282,000 after acquiring an additional 1,167 shares in the last quarter. Intrust Bank NA raised its position in shares of ServiceNow by 402.1% during the 4th quarter. Intrust Bank NA now owns 8,692 shares of the information technology services provider’s stock valued at $1,332,000 after acquiring an additional 6,961 shares in the last quarter. Finally, First Business Financial Services Inc. raised its position in shares of ServiceNow by 393.8% during the 4th quarter. First Business Financial Services Inc. now owns 1,990 shares of the information technology services provider’s stock valued at $305,000 after acquiring an additional 1,587 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on 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 directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. The trade was 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. In the last ninety days, insiders sold 31,767 shares of company stock worth $2,906,098. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NOW shares. FBN Securities dropped their price target on ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Wells Fargo & Company dropped 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. Mizuho dropped their target price on ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Stifel Nicolaus dropped their target price 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 target price on ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $141.89.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

ServiceNow Price Performance

Shares of NYSE NOW opened at $101.71 on Wednesday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The business’s fifty day moving average price is $99.72 and its two-hundred day moving average price is $127.48. The firm has a market capitalization of $104.86 billion, a PE ratio of 60.61, a P/E/G ratio of 1.76 and a beta of 0.82.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company 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 business posted $0.81 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current 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.