Dash Acquisitions Inc. Makes New $9.77 Million Investment in ServiceNow, Inc. $NOW

Key Points

• Dash Acquisitions Inc. opened a new position in ServiceNow during the fourth quarter, buying 63,769 shares valued at about $9.77 million. The stake makes up roughly 1.9% of the firm’s portfolio and ranks as its 18th-largest holding.
• ServiceNow shares were up 4.0% to $90.56, but the stock remains well below its 200-day average and far off its 52-week high. The company’s market cap is about $93.37 billion, with a P/E ratio of 53.97.
• Recent earnings were solid, with ServiceNow reporting EPS of $0.97 on revenue of $3.77 billion, both in line or slightly above expectations. Analysts remain generally positive overall, though several recently cut price targets amid the stock’s pullback.

Dash Acquisitions Inc. acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,769 shares of the information technology services provider's stock, valued at approximately $9,769,000. ServiceNow makes up about 1.9% of Dash Acquisitions Inc.'s investment portfolio, making the stock its 18th largest holding.

Other hedge funds have also bought and sold shares of the company. IAG Wealth Partners LLC boosted its position in 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 purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC boosted its position in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC boosted its position 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 worth $25,000 after purchasing an additional 132 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in ServiceNow in the 4th quarter worth approximately $26,000. Finally, Albion Financial Group UT boosted its position in ServiceNow by 400.0% in the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 4.0%

Shares of NOW stock opened at $90.56 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $93.37 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 1.54 and a beta of 0.82. The stock has a 50 day simple moving average of $100.89 and a 200-day simple moving average of $129.31. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm's revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 3,696 shares of the business'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 directly owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was 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. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,415 shares of company stock valued at $2,210,933 over the last quarter. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NOW shares. Macquarie Infrastructure reduced their target price on ServiceNow from $172.00 to $140.00 and set a "neutral" rating for the company in a research note on Thursday, January 29th. BTIG Research reaffirmed a "buy" rating and set a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. Morgan Stanley reduced their target price on ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Canaccord Genuity Group reduced their target price on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, Mizuho reduced their target price on ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.71.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi to improve real-time data activation across enterprise systems, strengthening its positioning as a platform for agentic AI and workflow automation. ServiceNow and Boomi partner for data activation
• Positive Sentiment: FedEx is deepening its ServiceNow relationship with a procurement integration, a sign that major enterprise customers are broadening use of the platform and could drive more recurring revenue. FedEx advances ServiceNow partnership with procurement integration
• Positive Sentiment: ServiceNow and Accenture launched an engineering program to scale agentic AI for enterprise clients, which supports the company’s AI growth narrative and suggests more commercialization of its platform. ServiceNow (NOW), Accenture Launch Engineering Program to Scale Agentic AI for Enterprises
• Positive Sentiment: Several articles highlighted ServiceNow as an attractive AI/software name, with commentary suggesting the recent sell-off may be overdone and that investors are focusing on the stock’s long-term AI upside. 1 Incredible Artificial Intelligence (AI) Stock to Buy After Its Post-Earnings Sell-Off
• Neutral Sentiment: Analyst and media coverage remains mixed but generally constructive, with pieces debating whether the market is underestimating the impact of AI on ServiceNow’s business. ServiceNow: The Market Is Misunderstanding The Effects Of AI
• Negative Sentiment: A bearish options trade and commentary about further downside show that some traders still expect weakness, reflecting lingering pressure on the stock after its post-earnings decline. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
• Negative Sentiment: An insider sale by Paul Fipps was disclosed, which can add to short-term caution even though it was small and made under a pre-arranged trading plan. SEC insider filing for Paul Fipps

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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