Clare Market Investments LLC Takes Position in ServiceNow, Inc. $NOW

Key Points

• Clare Market Investments opened a new position in ServiceNow during the first quarter, buying 15,125 shares worth about $1.58 million.
• Other institutional investors also increased their ServiceNow holdings, and hedge funds/institutions now own 87.18% of the company’s shares.
• ServiceNow insiders have recently sold stock, including two Rule 10b5-1 transactions, while analysts remain generally bullish with a Moderate Buy consensus and an average price target of $141.68.

Clare Market Investments LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,125 shares of the information technology services provider's stock, valued at approximately $1,581,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cohen Investment Advisors LLC raised its position in ServiceNow by 2.9% in the first quarter. Cohen Investment Advisors LLC now owns 25,153 shares of the information technology services provider's stock worth $2,630,000 after acquiring an additional 718 shares during the period. Integrated Advisors Network LLC grew its position in shares of ServiceNow by 51.3% during the 1st quarter. Integrated Advisors Network LLC now owns 8,678 shares of the information technology services provider's stock valued at $907,000 after acquiring an additional 2,942 shares during the period. Dumont & Blake Investment Advisors LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at $698,000. Canvas Wealth Advisors LLC increased its stake in shares of ServiceNow by 36.7% in the 1st quarter. Canvas Wealth Advisors LLC now owns 17,751 shares of the information technology services provider's stock worth $1,856,000 after purchasing an additional 4,762 shares in the last quarter. Finally, Walser Wealth Management Company A Ltd Liability Co increased its stake in shares of ServiceNow by 291.3% in the 1st quarter. Walser Wealth Management Company A Ltd Liability Co now owns 7,297 shares of the information technology services provider's stock worth $763,000 after purchasing an additional 5,432 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on NOW shares. Morgan Stanley lowered their target price on ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Barclays restated an "overweight" rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Evercore raised their price objective on ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Canaccord Genuity Group lowered their price objective on ServiceNow from $200.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Finally, BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price objective for the company in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $141.68.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow landed multiple AI-driven government and defense collaborations, including a biosurveillance project for the Department of War and a modernization effort for state health and human services systems, reinforcing its AI platform as a mission-critical solution. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Cyberhill Partners selected ServiceNow’s AI Platform as the foundation for a Defense Innovation Unit biosurveillance prototype, adding evidence that the company is winning high-value, security-sensitive AI contracts. ServiceNow (NOW) On AI And Defense Wins Is The Stock Still Undervalued
• Positive Sentiment: Recent market commentary says ServiceNow is outperforming the broader market, with shares closing higher in the latest session, supported by confidence that AI is expanding rather than replacing its workflow software business. ServiceNow (NOW) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Several articles argue the market may be undervaluing ServiceNow because fears that AI agents will disrupt workflow software appear to be overstated relative to the company’s reported results and growth outlook. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Neutral Sentiment: One article notes ServiceNow remains on a list of heavily downgraded stocks, but analysts still see meaningful upside in price targets, making the rating backdrop mixed rather than clearly negative. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)
• Negative Sentiment: Some analysts remain cautious that AI could eventually automate more business processes, potentially reducing the need for traditional workflow tools and creating a long-term threat to ServiceNow’s core model. The 1 Big Risk Every ServiceNow Investor Should Understand

ServiceNow Stock Performance

Shares of NYSE NOW opened at $110.59 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $114.01 billion, a P/E ratio of 66.05, a P/E/G ratio of 1.77 and a beta of 0.96. The firm's fifty day moving average is $100.53 and its two-hundred day moving average is $112.60. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20.

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. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business's revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current fiscal 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.

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