Havemeyer Place LP Makes New $7.37 Million Investment in ServiceNow, Inc. $NOW

Havemeyer Place LP purchased a new position 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 firm purchased 48,081 shares of the information technology services provider’s stock, valued at approximately $7,366,000. ServiceNow accounts for about 1.5% of Havemeyer Place LP’s investment portfolio, making the stock its 2nd biggest holding.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of ServiceNow during the fourth quarter worth about $2,020,992,000. Cohen Klingenstein LLC raised its position in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares during the period. World Investment Advisors raised its position in shares of ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after purchasing an additional 38,583 shares during the period. Moors & Cabot Inc. raised its position in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 5.8%

NOW stock opened at $112.45 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 moving average price of $99.48 and a two-hundred day moving average price of $122.03. The company has a market cap of $115.94 billion, a price-to-earnings ratio of 67.02, a P/E/G ratio of 1.86 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

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

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred 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 transaction, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NOW shares. HSBC dropped their target price on 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 started coverage on ServiceNow in a research report on Monday, May 18th. They issued a “buy” rating and a $130.00 target price on the stock. Citigroup lifted their target price on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wolfe Research set a $125.00 target price on ServiceNow in a research report on Thursday, April 23rd. Finally, Truist Financial dropped their target price on ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $141.85.

ServiceNow 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.