80,333 Shares in ServiceNow, Inc. $NOW Bought by Qsemble Capital Management LP

Key Points

• Qsemble Capital Management LP initiated a new position in ServiceNow, buying 80,333 shares valued at about $12.3 million. The stake makes ServiceNow one of the fund’s larger holdings.
• ServiceNow is seeing continued institutional interest, with several other hedge funds and investment managers sharply increasing their holdings. Institutional investors now own 87.18% of the company.
• The company has been boosted by a series of positive developments, including new AI-focused partnerships with Experian, Accenture, and FedEx Dataworks, plus a $4 billion debt offering that improves financing flexibility. ServiceNow also recently reported quarterly revenue growth of 22.1%, though the stock has faced recent pressure and analyst targets were trimmed.

Qsemble Capital Management LP bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 80,333 shares of the information technology services provider's stock, valued at approximately $12,306,000. ServiceNow accounts for about 1.0% of Qsemble Capital Management LP's portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cohen Klingenstein LLC boosted its stake 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 worth $1,532,000 after buying an additional 8,000 shares in the last quarter. World Investment Advisors boosted its stake 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 worth $7,218,000 after buying an additional 38,583 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake 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 worth $398,202,000 after buying an additional 2,064,440 shares in the last quarter. Torray Investment Partners LLC boosted its stake in ServiceNow by 390.5% during the fourth quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock worth $6,224,000 after buying an additional 32,345 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after buying an additional 6,213,762 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow's Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Mizuho reduced their target price on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Cantor Fitzgerald reduced their target price on shares of ServiceNow to $122.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Oppenheimer set a $130.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, April 15th. Argus reduced their target price on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Finally, Truist Financial reduced their target price on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus price target of $144.71.

Insider Activity

In related news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 9,641 shares of the company's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, the insider owned 11,757 shares in the company, valued at approximately $1,245,419.01. This trade represents a 45.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,415 shares of company stock worth $2,210,933. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Up 5.1%

Shares of NYSE NOW opened at $95.15 on Friday. The firm's 50-day simple moving average is $100.52 and its 200 day simple moving average is $129.07. The company has a market cap of $98.10 billion, a price-to-earnings ratio of 56.71, a price-to-earnings-growth ratio of 1.60 and a beta of 0.82. The company has a quick ratio of 0.84, a current 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.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.77 billion for 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 firm's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. On average, research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

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.

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