FourThought Financial Partners LLC Acquires 28,679 Shares of ServiceNow, Inc. $NOW

Key Points

• FourThought Financial Partners boosted its ServiceNow stake by 410.6% in the fourth quarter, buying 28,679 additional shares and ending with 35,664 shares valued at about $5.46 million.
• ServiceNow reported Q4 earnings and revenue that matched or slightly topped expectations, with EPS of $0.97 on revenue of $3.77 billion, up 22.1% year over year.
• Despite multiple analyst price target cuts, Wall Street still has a Moderate Buy consensus on ServiceNow, with an average target price of $141.89.

FourThought Financial Partners LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 410.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,664 shares of the information technology services provider's stock after acquiring an additional 28,679 shares during the quarter. FourThought Financial Partners LLC's holdings in ServiceNow were worth $5,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NOW. IAG Wealth Partners LLC increased its position in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC boosted its holdings in shares of 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 buying an additional 128 shares during the last quarter. Millstone Evans Group LLC grew its position in 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. Lodestone Wealth Management LLC purchased a new stake in ServiceNow during the fourth quarter worth about $26,000. Finally, Albion Financial Group UT increased its holdings in ServiceNow by 400.0% during the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 1.3%

NOW opened at $103.13 on Thursday. The company has a 50 day moving average of $99.35 and a 200 day moving average of $126.89. The company has a market cap of $106.33 billion, a PE ratio of 61.46, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

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

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research analyst reports. Raymond James Financial dropped their target price on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Truist Financial lowered their price target on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Benchmark initiated coverage on ServiceNow in a research note on Wednesday, April 1st. They issued a "buy" rating and a $125.00 price objective on the stock. Cantor Fitzgerald decreased their target price on ServiceNow to $122.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lowered their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" 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 assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $141.89.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating, helping spark fresh bullish sentiment around the stock. ServiceNow in focus as BofA restarts coverage with Buy rating
• Positive Sentiment: Analysts are increasingly viewing ServiceNow as an AI beneficiary, not a casualty, with commentary that its Action Fabric, Model Context Protocol, and Now Assist adoption could make it a control center for agentic AI workflows. NOW: Why A 20 Percent Grower At 19x '27 EPS Doesn't Stay There
• Positive Sentiment: Multiple reports say software stocks are rebounding as investors rotate back into enterprise software and reassess AI disruption fears, with ServiceNow among the leaders in that move. US software stocks attempt a rebound as investors reassess AI risks

Insider Buying and Selling

In related news, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated 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 directly owned 29,531 shares in the company, 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. Insiders have sold a total of 31,767 shares of company stock valued at $2,906,098 in the last ninety days. 0.34% of the stock is owned by company insiders.

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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