King Luther Capital Management Corp Boosts Stake in ServiceNow, Inc. $NOW

King Luther Capital Management Corp lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 526.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,295 shares of the information technology services provider’s stock after purchasing an additional 6,130 shares during the quarter. King Luther Capital Management Corp’s holdings in ServiceNow were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. State Street Corp increased its position in ServiceNow by 1.4% during the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock valued at $8,700,970,000 after acquiring an additional 131,080 shares during the last quarter. Jennison Associates LLC increased its position in ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock valued at $1,291,758,000 after acquiring an additional 6,213,762 shares during the last quarter. Fisher Asset Management LLC boosted its position in ServiceNow by 404.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock worth $1,279,416,000 after purchasing an additional 6,695,802 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of ServiceNow by 406.8% during the 4th quarter. Legal & General Group Plc now owns 6,895,985 shares of the information technology services provider’s stock valued at $1,056,396,000 after purchasing an additional 5,535,170 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $124.56 on Friday. 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 business has a 50-day simple moving average of $98.05 and a two-hundred day simple moving average of $123.74. The stock has a market cap of $128.42 billion, a price-to-earnings ratio of 74.23, a PEG ratio of 1.80 and a beta of 0.82. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48.

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

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow’s stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume (NYSE:NOW)

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group cut their price target on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Cantor Fitzgerald cut their price target on ServiceNow to $122.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. KeyCorp set a $85.00 price target on ServiceNow and gave the company an “underweight” rating in a research note on Thursday, April 23rd. Capital One Financial boosted their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Barclays restated an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.85.

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.