Allworth Financial LP Buys 16,893 Shares of ServiceNow, Inc. $NOW

Key Points

• Allworth Financial LP increased its ServiceNow stake by 567.1% in the fourth quarter, buying 16,893 additional shares and bringing its total to 19,872 shares valued at about $3.0 million.
• ServiceNow reported Q1 results in line with expectations, posting EPS of $0.97 and revenue of $3.77 billion, with revenue up 22.1% year over year.
• Insider activity has leaned negative recently, with executives including Paul Fipps and Jacqueline P. Canney selling shares; over the last 90 days, insiders sold 22,415 shares worth about $2.21 million.

Allworth Financial LP raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 567.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,872 shares of the information technology services provider's stock after buying an additional 16,893 shares during the period. Allworth Financial LP's holdings in ServiceNow were worth $3,044,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 2.5% during the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider's stock worth $417,000 after buying an additional 11 shares during the period. Meridian Wealth Advisors LLC boosted its position in shares of ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after buying an additional 12 shares during the period. Valley Brook Capital Group Inc. boosted its position in shares of ServiceNow by 2.1% during the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock worth $583,000 after buying an additional 13 shares during the period. Catalyst Financial Partners LLC boosted its position in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock worth $1,169,000 after buying an additional 13 shares during the period. Finally, JT Stratford LLC boosted its position in shares of ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock worth $354,000 after buying an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider owned 8,061 shares in the company, valued at $820,367.97. This represents a 31.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,415 shares of company stock worth $2,210,933. Insiders own 0.34% of the company's stock.

ServiceNow Price Performance

Shares of NOW opened at $95.15 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The stock's 50 day moving average is $100.52 and its two-hundred day moving average is $129.07. The firm has a market capitalization of $98.10 billion, a PE ratio of 56.71, a P/E/G ratio of 1.68 and a beta of 0.82. 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 (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts' consensus estimates of $0.97. The business 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 revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. Research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

More 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NOW shares. Wolfe Research set a $125.00 price target on ServiceNow in a research note on Thursday, April 23rd. Evercore lifted their target price on ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Wells Fargo & Company cut their target price on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings cut ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. Finally, KeyCorp set a $85.00 target price on ServiceNow and gave the stock an "underweight" rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $144.71.

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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