AXS Investments LLC Raises Stock Position in ServiceNow, Inc. $NOW

Key Points

• AXS Investments LLC boosted its ServiceNow stake by 402.7% in the fourth quarter, ending with 16,070 shares worth about $2.46 million. ServiceNow now represents 1.2% of the fund’s portfolio and is its 22nd-largest holding.
• ServiceNow has been getting a bullish boost from AI-related optimism, with investors viewing it as a key platform for agentic AI workflows and enterprise automation. Recent news also points to a broader rebound in software stocks and growing partnership momentum.
• The company recently reported earnings in line with estimates, posting $0.97 EPS on revenue of $3.77 billion, up 22.1% year over year. Analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $141.85.

AXS Investments LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 402.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,070 shares of the information technology services provider's stock after purchasing an additional 12,873 shares during the quarter. ServiceNow accounts for 1.2% of AXS Investments LLC's investment portfolio, making the stock its 22nd biggest holding. AXS Investments LLC's holdings in ServiceNow were worth $2,462,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC boosted its position in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares in the last quarter. Noble Wealth Management PBC increased its holdings in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted its stake in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new stake in ServiceNow in the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow News Summary

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

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their target price on ServiceNow from $200.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Truist Financial reduced their price target on ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $121.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Mizuho reduced their price target on ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.85.

ServiceNow Trading Up 14.6%

NYSE:NOW opened at $124.56 on Friday. The business's 50-day moving average is $98.05 and its two-hundred day moving average is $123.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The firm has a market capitalization of $128.42 billion, a PE ratio of 74.23, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82.

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

Insider Buying and Selling

In other ServiceNow 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 transaction, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company's stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is 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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.