Arcadia Investment Management Corp MI Has $11.53 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• Arcadia Investment Management Corp MI sharply increased its ServiceNow stake by 427.9% in the fourth quarter, buying 61,008 additional shares to reach 75,265 shares valued at about $11.53 million.
• ServiceNow remains widely held by institutions, with 87.18% of shares owned by institutional investors and hedge funds, while several other funds also recently boosted their positions.
• The stock has been drawing bullish attention from analysts and investors thanks to its AI and enterprise automation narrative, while the company also recently reported quarterly revenue of $3.77 billion, up 22.1% year over year.

Arcadia Investment Management Corp MI grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 427.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,265 shares of the information technology services provider's stock after buying an additional 61,008 shares during the quarter. ServiceNow accounts for about 1.9% of Arcadia Investment Management Corp MI's holdings, making the stock its 17th biggest position. Arcadia Investment Management Corp MI's holdings in ServiceNow were worth $11,530,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NOW. IAG Wealth Partners LLC boosted its holdings in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC boosted its holdings in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC purchased a new position in ServiceNow during the fourth quarter worth about $25,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

ServiceNow Stock Performance

NYSE NOW opened at $124.56 on Monday. The company's 50 day moving average is $98.05 and its 200-day moving average is $123.39. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market cap of $128.42 billion, a P/E ratio of 74.23, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company's quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NOW shares. Argus cut their price target on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, April 24th. Needham & Company LLC restated a "buy" rating and set a $115.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Robert W. Baird cut their price target on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. UBS Group restated an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Finally, Piper Sandler lowered their price objective on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $141.85.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value 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. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 ninety days, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company 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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