Empowered Funds LLC Has $10.15 Million Position in ServiceNow, Inc. $NOW

Empowered Funds LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,055 shares of the information technology services provider’s stock after buying an additional 8,363 shares during the quarter. Empowered Funds LLC’s holdings in ServiceNow were worth $10,147,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in 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 valued at $15,619,771,000 after buying an additional 81,752,460 shares during the period. State Street Corp boosted its stake in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Geode Capital Management LLC raised its position in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after acquiring an additional 17,514,679 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

NYSE NOW opened at $110.18 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $113.93 billion, a price-to-earnings ratio of 68.86, a PEG ratio of 2.04 and a beta of 0.96. The business has a 50 day simple moving average of $105.45 and a 200 day simple moving average of $106.40. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $196.40.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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. 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 completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. The trade was a 3.23% 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. Insiders have sold a total of 19,144 shares of company stock worth $1,730,097 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $248.00 price objective (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. UBS Group set a $248.00 target price on ServiceNow in a research note on Thursday, July 23rd. Cantor Fitzgerald boosted their target price on ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $140.00 price target (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.39.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s latest quarterly results showed continued momentum: revenue rose 24% year over year to approximately $4 billion, while adjusted earnings exceeded consensus expectations. Management also raised guidance, and AI-related contract value surpassed $1 billion ahead of internal targets. ServiceNow Stock Opinions on Q2 Earnings Results
• Positive Sentiment: Analysts and investors remain constructive on ServiceNow’s workflow-automation and agentic-AI opportunity. An investment analysis cited accelerating user retention, pricing power, a growing security and risk business, and a long-term target of $30 billion to $32 billion in subscription revenue by 2030. The analysis raised its fair-value estimate to $160. ServiceNow User Retention Is Accelerating
• Positive Sentiment: Dynamic Lifecycle Innovations launched a new application on the ServiceNow platform for IT asset disposition, expanding the company’s partner ecosystem and demonstrating additional use cases for its workflow technology. Dynamic Lifecycle Innovations Launches New ServiceNow App
• Neutral Sentiment: ServiceNow’s valuation remains a major debate. The stock is well below its recent highs, while the average analyst price target is around $140 and a separate survey reports a $134 median target, indicating substantial potential upside but also skepticism about how quickly AI growth will translate into results. ServiceNow Showing Signs of Life
• Negative Sentiment: ServiceNow could eliminate up to 1,000 positions this year as part of a planned “rightsizing” effort following a series of acquisitions. Reports of continuing layoffs and employee frustration may weigh on sentiment, even though the reductions could eventually improve operating efficiency and offset acquisition-related costs. ServiceNow to Cut Up to 1,000 Jobs
• Negative Sentiment: Recent insider activity has been mixed but skewed toward selling, with nine sales versus two purchases over the past six months. Several senior executives sold shares, although CEO Bill McDermott was reported to have purchased shares. This is a secondary signal, but it may reinforce cautious sentiment.

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.