Glenview Trust Co Buys 78,897 Shares of ServiceNow, Inc. $NOW

Key Points

• Glenview Trust Co significantly increased its ServiceNow stake in the fourth quarter, boosting holdings by 250.9% to 110,348 shares worth about $16.9 million after buying 78,897 additional shares.
• Institutional interest remains strong, with several other hedge funds also ramping up positions and institutions owning 87.18% of ServiceNow’s stock overall.
• ServiceNow reported solid quarterly results and remains a Wall Street favorite, matching EPS estimates and topping revenue expectations, while analysts maintain a Moderate Buy rating with an average price target of $141.85.

Glenview Trust Co lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 250.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 110,348 shares of the information technology services provider's stock after acquiring an additional 78,897 shares during the period. Glenview Trust Co's holdings in ServiceNow were worth $16,904,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. New Age Alpha Advisors LLC lifted its stake in ServiceNow by 765.9% in the fourth quarter. New Age Alpha Advisors LLC now owns 21,872 shares of the information technology services provider's stock worth $3,351,000 after purchasing an additional 19,346 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in ServiceNow by 350.8% in the fourth quarter. HBK Sorce Advisory LLC now owns 7,970 shares of the information technology services provider's stock worth $1,221,000 after purchasing an additional 6,202 shares during the last quarter. Mathes Company Inc. lifted its stake in ServiceNow by 620.0% in the fourth quarter. Mathes Company Inc. now owns 2,700 shares of the information technology services provider's stock worth $414,000 after purchasing an additional 2,325 shares during the last quarter. Allen Capital Group LLC lifted its stake in ServiceNow by 412.7% in the fourth quarter. Allen Capital Group LLC now owns 4,250 shares of the information technology services provider's stock worth $651,000 after purchasing an additional 3,421 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in ServiceNow by 464.3% in the fourth quarter. Hantz Financial Services Inc. now owns 140,396 shares of the information technology services provider's stock worth $21,507,000 after purchasing an additional 115,515 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 over the last ninety days. 0.34% of the stock is owned by insiders.

ServiceNow Price Performance

NOW stock opened at $102.13 on Monday. The firm's 50-day moving average price is $98.74 and its two-hundred day moving average price is $125.73. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The stock has a market capitalization of $105.29 billion, a price-to-earnings ratio of 60.86, a PEG ratio of 1.85 and a beta of 0.82. 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 released its quarterly earnings data 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. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

ServiceNow News Summary

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOW. Citizens Jmp reissued a "market outperform" rating and issued a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Bank of America began coverage on shares of ServiceNow in a research note on Monday, May 18th. They issued a "buy" rating and a $130.00 price target for the company. Oppenheimer set a $130.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, April 15th. Finally, Mizuho lowered their price target on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $141.85.

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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