Appleton Partners Inc. MA Has $6.70 Million Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Appleton Partners Inc. MA increased its ServiceNow stake by 18.9% in the first quarter, buying 10,168 additional shares and bringing its holdings to 64,057 shares valued at about $6.7 million.
• ServiceNow’s stock has mixed analyst sentiment: several firms cut price targets, but the overall consensus remains a Moderate Buy with an average price target of $141.68.
• The company posted solid quarterly results, with revenue up 22.1% year over year to $3.77 billion and EPS matching expectations at $0.97, even as insider selling and valuation concerns continue to draw attention.

Appleton Partners Inc. MA boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,057 shares of the information technology services provider's stock after purchasing an additional 10,168 shares during the period. Appleton Partners Inc. MA's holdings in ServiceNow were worth $6,697,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NOW. Florida Financial Advisors LLC increased its holdings in shares of 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 in the last quarter. First Affirmative Financial Network boosted its holdings in shares of ServiceNow by 1.7% during the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider's stock valued at $821,000 after acquiring an additional 15 shares in the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of ServiceNow by 1.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider's stock valued at $1,322,000 after acquiring an additional 16 shares in the last quarter. Perennial Investment Advisors LLC grew its position in ServiceNow by 6.7% during the 3rd quarter. Perennial Investment Advisors LLC now owns 270 shares of the information technology services provider's stock worth $248,000 after acquiring an additional 17 shares during the last quarter. Finally, Opes Wealth Management LLC grew its position in ServiceNow by 3.5% during the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider's stock worth $467,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. Weiss Ratings downgraded ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. Canaccord Genuity Group lowered their price objective on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Truist Financial dropped their price objective on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $141.68.

ServiceNow Stock Performance

Shares of NOW stock opened at $106.06 on Monday. The firm has a 50 day moving average of $100.53 and a 200-day moving average of $112.60. The company has a market cap of $109.34 billion, a price-to-earnings ratio of 63.20, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. 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 52 week low of $81.24 and a 52 week high of $211.48.

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 the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow's revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, equities analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow News Summary

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

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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