87,101 Shares in ServiceNow, Inc. $NOW Acquired by Osborne Partners Capital Management LLC

Key Points

• Osborne Partners Capital Management bought a new stake in ServiceNow during the first quarter, acquiring 87,101 shares valued at about $9.1 million.
• Wall Street sentiment remains generally positive, with Guggenheim upgrading ServiceNow to Buy and analysts assigning a consensus Moderate Buy rating with an average price target of $141.68.
• ServiceNow continues to show solid operating performance, as its latest quarter delivered $3.77 billion in revenue and 22.1% year-over-year growth, while earnings per share matched estimates at $0.97.

Osborne Partners Capital Management LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 87,101 shares of the information technology services provider's stock, valued at approximately $9,106,000.

A number of other large investors also recently made changes to their positions in NOW. JT Stratford LLC grew its position in shares of ServiceNow by 3.5% in the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after purchasing an additional 13 shares during the period. Florida Financial Advisors LLC lifted its position in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after buying an additional 14 shares during the period. First Affirmative Financial Network boosted its stake in ServiceNow by 1.7% in the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider's stock worth $821,000 after buying an additional 15 shares during the last quarter. Nicolet Advisory Services LLC boosted its stake in ServiceNow by 1.1% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider's stock worth $1,322,000 after buying an additional 16 shares during the last quarter. Finally, Perennial Investment Advisors LLC grew its holdings in ServiceNow by 6.7% in the 3rd quarter. Perennial Investment Advisors LLC now owns 270 shares of the information technology services provider's stock valued at $248,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy, saying AI fears have been overdone and that the stock offers meaningful upside from current levels. ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Other commentary framed ServiceNow as a “golden opportunity” for patient investors, reinforcing the view that the recent selloff may be excessive relative to its growth outlook. ServiceNow (NOW): A Golden Opportunity for Patient Investors
• Positive Sentiment: Analysts and investors continue to highlight demand for ServiceNow’s AI Control Tower and AI-enabled workflow tools, which supports the company’s long-term growth narrative. ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: Several articles discuss ServiceNow’s premium valuation, which may limit near-term upside even as growth remains solid. Does Guggenheim’s Upgrade Reframe ServiceNow (NOW) as an AI Workflow Enabler Rather Than a Disruption Risk?
• Negative Sentiment: Some reports still point to concerns about AI disruption, delayed large deal closures, acquisition-related margin pressure, and overall valuation risk, which could temper enthusiasm. ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research analyst reports. TD Cowen reaffirmed a "buy" rating and set a $140.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd. Guggenheim raised shares of ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 target price on the stock in a research report on Wednesday. Cantor Fitzgerald set a $130.00 target price on shares of ServiceNow in a report on Monday, June 15th. Piper Sandler dropped their price target on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $141.68.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Fipps sold 1,048 shares of ServiceNow 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 transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. 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. In the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

NYSE NOW opened at $106.06 on Friday. The firm has a market capitalization of $109.34 billion, a P/E ratio of 63.20, a P/E/G ratio of 1.77 and a beta of 0.96. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The business's 50-day simple moving average is $100.53 and its 200-day simple moving average is $112.88.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.97. The business had revenue of $3.77 billion during 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 revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. Equities analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current 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.

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