Bailard Inc. Boosts Stock Position in ServiceNow, Inc. $NOW

Key Points

• Bailard Inc. dramatically increased its ServiceNow stake by 422.9% in the fourth quarter, ending with 79,350 shares valued at about $12.2 million.
• Other institutional investors also boosted their positions, and hedge funds and institutions now own 87.18% of ServiceNow’s stock, indicating strong ongoing interest from big investors.
• ServiceNow’s latest quarter showed EPS of $0.97 on revenue of $3.77 billion, both in line with expectations, while analysts remain generally constructive with a consensus rating of Moderate Buy.

Bailard Inc. increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 422.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,350 shares of the information technology services provider's stock after buying an additional 64,175 shares during the period. Bailard Inc.'s holdings in ServiceNow were worth $12,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. AGH Wealth Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $290,000. Pier 88 Investment Partners LLC grew its stake in shares of ServiceNow by 393.2% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,200 shares of the information technology services provider's stock worth $1,103,000 after buying an additional 5,740 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs grew its stake in shares of ServiceNow by 437.5% in the 4th quarter. AG2R LA Mondiale Gestion D Actifs now owns 41,460 shares of the information technology services provider's stock worth $6,351,000 after buying an additional 33,747 shares during the last quarter. Mirabaud Asset Management Ltd grew its stake in shares of ServiceNow by 87.6% in the 4th quarter. Mirabaud Asset Management Ltd now owns 7,463 shares of the information technology services provider's stock worth $1,143,000 after buying an additional 3,485 shares during the last quarter. Finally, Nicholas Company Inc. grew its stake in shares of ServiceNow by 532.6% in the 4th quarter. Nicholas Company Inc. now owns 426,015 shares of the information technology services provider's stock worth $65,261,000 after buying an additional 358,675 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: FedEx is expanding its partnership with ServiceNow, which suggests continued enterprise demand for ServiceNow’s workflow and automation tools and could strengthen future revenue opportunities. FedEx expands ServiceNow partnership
• Positive Sentiment: Analysts remain constructive on ServiceNow, with BMO Capital reaffirming an Outperform rating and a $115 price target, citing the platform’s defensive positioning around autonomous execution, governance, and context. Why analysts still favor ServiceNow
• Positive Sentiment: ServiceNow is highlighting new AI governance tools through its AI Control Tower and related partnerships, which may appeal to enterprises looking for more control over AI agents and compliance. ServiceNow seeks AI control role as stock struggles and partnerships grow
• Neutral Sentiment: ServiceNow plans to raise $4 billion in a bond sale, which could provide financing flexibility but also adds leverage and is not a direct operating catalyst. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale
• Neutral Sentiment: Recent commentary about the stock “resetting” after a large decline reflects valuation debate rather than a clear new fundamental development. Is ServiceNow resetting after a 52% slide and DCF upside scenario?

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NOW shares. Macquarie Infrastructure cut their price target on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a report on Thursday, January 29th. Benchmark started coverage on shares of ServiceNow in a report on Wednesday, April 1st. They set a "buy" rating and a $125.00 price target on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $121.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Capital One Financial increased their price target on shares of ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $144.71.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Fipps sold 3,696 shares of the firm'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 transaction of $376,141.92. Following the completion of 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 25,164 shares of company stock worth $2,497,021. Company insiders own 0.34% of the company's stock.

ServiceNow Trading Up 0.4%

Shares of NOW stock opened at $91.51 on Tuesday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $102.18 and its 200 day moving average is $131.38. The stock has a market capitalization of $94.35 billion, a P/E ratio of 54.53, a P/E/G ratio of 1.61 and a beta of 0.82.

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. 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 analysts' expectations of $3.75 billion. During the same quarter last year, the company posted $0.81 earnings per share. The firm's quarterly revenue was up 22.1% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

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.

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.