71 West Capital Partners Makes New $9.39 Million Investment in ServiceNow, Inc. $NOW

Key Points

• 71 West Capital Partners opened a new position in ServiceNow, buying 61,272 shares worth about $9.39 million in the fourth quarter, according to its latest 13F filing.
• Wall Street sentiment remains broadly positive, with Benchmark raising its price target to $130 and maintaining a Buy rating, while the overall consensus on NOW is still Moderate Buy with a $142.17 average target.
• ServiceNow’s latest earnings showed solid growth, as it matched EPS expectations at $0.97 and topped revenue estimates with $3.77 billion, up 22.1% year over year.

71 West Capital Partners acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 61,272 shares of the information technology services provider's stock, valued at approximately $9,386,000.

Several other hedge funds also recently modified their holdings of the stock. Meridian Wealth Advisors LLC grew its holdings in shares of ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock valued at $508,000 after acquiring an additional 12 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock valued at $1,169,000 after acquiring an additional 13 shares in the last quarter. JT Stratford LLC grew its holdings in shares of ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after acquiring an additional 13 shares in the last quarter. Abbot Financial Management Inc. grew its holdings in shares of ServiceNow by 2.9% in the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock valued at $462,000 after acquiring an additional 14 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its holdings in shares of ServiceNow by 6.7% in the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider's stock valued at $205,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow News Summary

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

ServiceNow Trading Up 2.1%

Shares of NYSE:NOW opened at $104.26 on Tuesday. The company has a 50-day simple moving average of $99.85 and a 200 day simple moving average of $119.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $107.50 billion, a P/E ratio of 62.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 12.59% and a return on equity of 18.16%. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NOW shares. Canaccord Genuity Group decreased their price objective on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Raymond James Financial cut their target price on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Evercore raised their target price on shares of ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. TD Cowen reiterated a "buy" rating and issued a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, KeyCorp set a $85.00 target price on shares of ServiceNow and gave the company an "underweight" rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.17.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction 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. This trade represents a 3.23% 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. Also, Director Anita M. Sands sold 16,445 shares of the firm's 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 sale, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by insiders.

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.

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