Northbridge Financial Group LLC Takes Position in ServiceNow, Inc. $NOW

Northbridge Financial Group LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,306 shares of the information technology services provider’s stock, valued at approximately $1,119,000.

A number of other hedge funds also recently made changes to their positions in the business. IAG Wealth Partners LLC raised its stake in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in shares of ServiceNow during the third quarter valued at about $29,000. Texas Capital Bancshares Inc TX bought a new stake in shares of ServiceNow during the third quarter valued at about $37,000. Ameriflex Group Inc. raised its stake in shares of ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors bought a new stake in shares of ServiceNow during the third quarter valued at about $50,000. Institutional investors own 87.18% of the company’s stock.

Key ServiceNow News

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

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

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOW. Robert W. Baird cut their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. BMO Capital Markets dropped their target price on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Bank of America started coverage on ServiceNow in a report on Monday. They set a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus dropped their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Weiss Ratings cut ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.89.

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated 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 sale, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,767 shares of company stock worth $2,906,098 over the last three months. Corporate 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.