BIT Capital GmbH Acquires 9,643 Shares of ServiceNow, Inc. $NOW

BIT Capital GmbH lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 499.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,575 shares of the information technology services provider's stock after purchasing an additional 9,643 shares during the period. BIT Capital GmbH's holdings in ServiceNow were worth $1,773,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. IAG Wealth Partners LLC increased its position in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC increased its position in shares of ServiceNow by 400.0% during the fourth 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 during the period. CBIZ Investment Advisory Services LLC increased its position in shares of 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 valued at $25,000 after buying an additional 135 shares during the period. Finally, Blueline Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at about $25,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $112.45 on Friday. 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 company has a market cap of $115.94 billion, a PE ratio of 67.02, a P/E/G ratio of 1.97 and a beta of 0.94. The business has a 50 day moving average of $99.48 and a 200 day moving average of $122.03. 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 posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction 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 transaction, 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 SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last ninety days. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NOW shares. Truist Financial decreased their price target on ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Argus decreased their price target on ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, April 24th. Sanford C. Bernstein reiterated an "outperform" rating and set a $236.00 price target (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. Evercore upped their price target on ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Finally, Citigroup boosted their price objective on ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

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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