Thornburg Investment Management Inc. Has $4.57 Million Stake in ServiceNow, Inc. $NOW

Thornburg Investment Management Inc. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 400.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 29,835 shares of the information technology services provider’s stock after acquiring an additional 23,868 shares during the period. Thornburg Investment Management Inc.’s holdings in ServiceNow were worth $4,570,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in ServiceNow during the fourth quarter valued at approximately $2,020,992,000. Cohen Klingenstein LLC grew its holdings in ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after purchasing an additional 8,000 shares during the period. World Investment Advisors grew its holdings in ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,218,000 after purchasing an additional 38,583 shares during the period. Moors & Cabot Inc. grew its holdings in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in 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 valued at $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 Performance

Shares of NOW stock opened at $104.26 on Tuesday. The company’s fifty day simple moving average is $99.85 and its 200-day simple moving average is $119.31. 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 firm has a market cap of $107.50 billion, a PE ratio of 62.14, a P/E/G ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and kept a Buy rating, signaling confidence that the stock has meaningful upside from current levels.
• Positive Sentiment: Another report noted ServiceNow has an average analyst recommendation of Moderate Buy, reinforcing a broadly constructive Wall Street view of the company.
• Positive Sentiment: IBM’s expanded ServiceNow partnership was highlighted as a way to accelerate enterprise AI adoption, which could bolster ServiceNow’s platform relevance and long-term growth narrative. Can IBM’s Extended ServiceNow Deal Accelerate Enterprise AI Adoption?
• Neutral Sentiment: ServiceNow was described as a candidate to benefit from AI-driven workflow automation, but the commentary was more of a business thesis than a concrete catalyst. ServiceNow: A 7.0 Score in a Shifting AI Landscape
• Neutral Sentiment: ServiceNow outperformed the broader market in the latest session, but the move appeared tied to general momentum and analyst sentiment rather than a major company-specific announcement. ServiceNow (NOW) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Multiple articles compared ServiceNow with Salesforce and said CRM currently has the edge thanks to stronger Agentforce momentum, rising earnings estimates, and a lower valuation, which may pressure NOW’s relative appeal. ServiceNow vs. Salesforce: Which Cloud Software Stock Has an Edge Now?
• Negative Sentiment: A broader software-industry note said SaaS stocks have been under pressure over the past six months, a backdrop that can weigh on ServiceNow’s valuation even when company-specific news is positive. 1 Software Stock with Exciting Potential and 2 Facing Headwinds

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. FBN Securities decreased their price objective on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. Cantor Fitzgerald set a $130.00 price target on shares of ServiceNow in a research note on Monday. Finally, Wolfe Research set a $125.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

About ServiceNow

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.