Waterfront Wealth Inc. Buys New Shares in ServiceNow, Inc. $NOW

Waterfront Wealth Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,657 shares of the information technology services provider’s stock, valued at approximately $1,219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Mason & Associates Inc lifted its holdings in shares of ServiceNow by 32.0% during the first quarter. Mason & Associates Inc now owns 6,047 shares of the information technology services provider’s stock worth $635,000 after purchasing an additional 1,467 shares during the period. SkyOak Wealth LLC increased its holdings in ServiceNow by 9.1% in the 1st quarter. SkyOak Wealth LLC now owns 14,775 shares of the information technology services provider’s stock worth $1,545,000 after buying an additional 1,230 shares during the period. First Horizon Corp increased its holdings in ServiceNow by 4.9% in the 1st quarter. First Horizon Corp now owns 67,540 shares of the information technology services provider’s stock worth $7,061,000 after buying an additional 3,145 shares during the period. Money Concepts Capital Corp raised its position in ServiceNow by 16.9% during the 1st quarter. Money Concepts Capital Corp now owns 10,325 shares of the information technology services provider’s stock worth $1,079,000 after buying an additional 1,493 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in ServiceNow by 27.4% during the 1st quarter. Granite Investment Partners LLC now owns 22,629 shares of the information technology services provider’s stock worth $2,366,000 after buying an additional 4,865 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. DA Davidson reaffirmed a “buy” rating and issued a $190.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. FBN Securities decreased their target price on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Wells Fargo & Company lowered their price target on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Finally, Bank of America began coverage on ServiceNow in a research report on Monday, May 18th. They set a “buy” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.47.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $1.03 during trading hours on Friday, reaching $107.81. The stock had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. The stock’s 50 day moving average is $102.49 and its 200 day moving average is $111.27. 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 twelve month low of $81.24 and a twelve month high of $210.20. The firm has a market capitalization of $111.16 billion, a PE ratio of 64.25, a PEG ratio of 1.81 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The firm 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 company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. Equities analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

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.