Global Retirement Partners LLC Purchases 75,298 Shares of ServiceNow, Inc. $NOW

Key Points

• Global Retirement Partners LLC sharply increased its ServiceNow stake by 591.4% in the fourth quarter, buying 75,298 additional shares to bring its total to 88,031 shares worth about $13.5 million.
• Several other institutional investors also raised their positions, and 87.18% of ServiceNow’s stock is owned by institutions, indicating strong professional investor interest.
• Analyst sentiment remains mostly positive: ServiceNow has a Moderate Buy consensus rating with an average price target of $141.89, while the company recently reported earnings and revenue that were roughly in line with expectations and showed 22.1% year-over-year revenue growth.

Global Retirement Partners LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 591.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,031 shares of the information technology services provider's stock after acquiring an additional 75,298 shares during the quarter. Global Retirement Partners LLC's holdings in ServiceNow were worth $13,486,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NOW. Brighton Jones LLC increased its stake in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the last quarter. Sivia Capital Partners LLC increased its stake in ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after acquiring an additional 34 shares during the last quarter. United Bank increased its stake in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after acquiring an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its stake in ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after acquiring an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC increased its stake in ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after acquiring an additional 609 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group set a $150.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd. Weiss Ratings cut shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, April 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $121.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Citizens Jmp reaffirmed a "market outperform" rating and set a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, BMO Capital Markets decreased their target price on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $141.89.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $103.13 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The stock has a market cap of $106.33 billion, a price-to-earnings ratio of 61.46, a P/E/G ratio of 1.85 and a beta of 0.82. The company's fifty day moving average is $99.35 and its 200 day moving average is $126.89.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share 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 for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. ServiceNow's revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

Trending Headlines about ServiceNow

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 at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 31,767 shares of company stock worth $2,906,098. Company insiders own 0.34% of the company's stock.

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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