Fisher Asset Management LLC Boosts Stake in ServiceNow, Inc. $NOW

Key Points

• Fisher Asset Management dramatically increased its ServiceNow stake by 404.3% in the fourth quarter, buying 6.7 million additional shares and ending with 8.35 million shares worth about $1.28 billion.
• ServiceNow’s latest earnings met expectations, with $0.97 EPS and $3.77 billion in revenue, which topped estimates slightly and marked 22.1% year-over-year revenue growth.
• Despite some insider selling and a muted stock move, analysts remain broadly constructive on NOW, with a Moderate Buy consensus and a target price of $141.85.

Fisher Asset Management LLC raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 404.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,351,824 shares of the information technology services provider's stock after purchasing an additional 6,695,802 shares during the quarter. Fisher Asset Management LLC owned 0.80% of ServiceNow worth $1,279,416,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its stake in shares of ServiceNow by 200.0% in 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 in the last quarter. Noble Wealth Management PBC lifted its stake in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted its stake in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 132 shares in the last quarter. Lodestone Wealth Management LLC purchased a new position in ServiceNow during the 4th quarter valued at about $26,000. Finally, Albion Financial Group UT grew 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 valued at $26,000 after acquiring an additional 136 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 0.0%

Shares of NOW stock opened at $102.13 on Monday. 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 stock has a market capitalization of $105.29 billion, a P/E ratio of 60.86, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The company has a 50 day moving average price of $98.74 and a 200 day moving average price of $125.73. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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 net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The firm's revenue was up 22.1% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, 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 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NOW shares. Wolfe Research set a $125.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. DA Davidson restated a "buy" rating and issued a $190.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. UBS Group set a $150.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Citic Securities dropped their price objective on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a report on Thursday. Finally, Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.85.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

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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