Berbice Capital Management LLC Grows Position in ServiceNow, Inc. $NOW

Key Points

• Berbice Capital Management boosted its ServiceNow stake by 394.9% in the fourth quarter, ending with 19,435 shares worth about $2.98 million.
• Several major institutional investors also increased their holdings, and 87.18% of ServiceNow’s stock is now owned by hedge funds and other institutions.
• ServiceNow’s latest results beat revenue estimates and matched EPS expectations, while analysts remain mostly positive with an average rating of Moderate Buy and a consensus price target of $141.89.

Berbice Capital Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 394.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,435 shares of the information technology services provider's stock after buying an additional 15,508 shares during the period. ServiceNow comprises about 1.8% of Berbice Capital Management LLC's portfolio, making the stock its 15th biggest position. Berbice Capital Management LLC's holdings in ServiceNow were worth $2,977,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NOW. Vanguard Group Inc. increased its holdings in ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after buying an additional 81,752,460 shares during the last quarter. State Street Corp increased its holdings in ServiceNow by 1.4% in the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock valued at $8,700,970,000 after buying an additional 131,080 shares during the last quarter. Jennison Associates LLC increased its holdings in ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after buying an additional 6,213,762 shares during the last quarter. Nordea Investment Management AB increased its holdings in ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after buying an additional 3,743,087 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in ServiceNow by 613.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after buying an additional 3,301,962 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $101.71 on Wednesday. The stock's 50-day moving average is $99.72 and its two-hundred day moving average is $127.48. The firm has a market cap of $104.86 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 1.76 and a beta of 0.82. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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%. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. Analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company's stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 31,767 shares of company stock valued at $2,906,098. 0.34% of the stock is currently owned by insiders.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price on ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. BTIG Research reiterated a "buy" rating and issued a $150.00 price target on shares of ServiceNow in a research note on Monday, May 4th. HSBC dropped their price target on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Cantor Fitzgerald dropped their price target on shares of ServiceNow to $122.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Finally, Robert W. Baird dropped their price target on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $141.89.

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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