Cynosure Group LLC Buys 7,128 Shares of ServiceNow, Inc. $NOW

Cynosure Group LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 872.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,945 shares of the information technology services provider’s stock after purchasing an additional 7,128 shares during the quarter. Cynosure Group LLC’s holdings in ServiceNow were worth $1,217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. IAG Wealth Partners LLC raised its position in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the last quarter. Noble Wealth Management PBC raised its position in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares during the last quarter. Millstone Evans Group LLC raised its position in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC acquired a new stake in ServiceNow in the 4th quarter valued at approximately $25,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: ServiceNow also benefited from a broader risk-on move after bond yields fell on news of a peace deal tied to reopening the Strait of Hormuz, helping high-quality software names like NOW move higher.
• Positive Sentiment: IBM extended its ServiceNow partnership to help enterprises overcome data and legacy-system barriers to AI adoption, reinforcing ServiceNow’s role in enterprise AI workflows.
• Neutral Sentiment: ServiceNow’s stock outperformed the market in the latest session, reflecting investor interest in the name, but the move was tied more to macro and sentiment factors than a new company-specific financial update.
• Neutral Sentiment: Commentary comparing ServiceNow with Salesforce suggests investors still see competition in cloud software, with some analysts favoring CRM on valuation and AI momentum.
• Negative Sentiment: A report said a ServiceNow security breach exposed enterprise customer data, which could raise concerns about trust, cybersecurity controls, and potential reputational damage.

Analyst Ratings Changes

Several research firms have weighed in on NOW. Morgan Stanley lowered their price target on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Citigroup boosted their price target on ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $236.00 price target (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. DA Davidson reaffirmed a “buy” rating and set a $190.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, Robert W. Baird lowered their price target on ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.17.

Insiders Place Their Bets

In other news, 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 transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% 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 Stock Performance

Shares of NYSE NOW opened at $104.26 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a 50 day moving average of $99.85 and a 200-day moving average of $119.31. The company has a market capitalization of $107.50 billion, a P/E ratio of 62.14, a P/E/G ratio of 1.69 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 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 the consensus estimate of $3.75 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities research analysts predict 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.