Hartline Investment Corp Buys 69,449 Shares of ServiceNow, Inc. $NOW

Key Points

• Hartline Investment Corp increased its ServiceNow stake by 322.1% in the fourth quarter, buying 69,449 additional shares and bringing its total holdings to 91,010 shares worth about $13.9 million.
• Analyst sentiment remains generally positive despite some target cuts: ServiceNow has a Moderate Buy consensus, with 34 Buy ratings and an average price target of $141.85.
• ServiceNow reported solid quarterly results, with EPS of $0.97 matching estimates and revenue of $3.77 billion, up 22.1% year over year.

Hartline Investment Corp grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 322.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,010 shares of the information technology services provider's stock after buying an additional 69,449 shares during the period. ServiceNow accounts for approximately 1.5% of Hartline Investment Corp's portfolio, making the stock its 19th largest holding. Hartline Investment Corp's holdings in ServiceNow were worth $13,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Meridian Wealth Advisors LLC increased its position in shares of ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock valued at $508,000 after buying an additional 12 shares during the period. Valley Brook Capital Group Inc. increased its position in shares of ServiceNow by 2.1% during the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock valued at $583,000 after buying an additional 13 shares during the period. Catalyst Financial Partners LLC increased its position in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock valued at $1,169,000 after buying an additional 13 shares during the period. JT Stratford LLC increased its position in shares of ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after buying an additional 13 shares during the period. Finally, Abbot Financial Management Inc. increased its position in shares of ServiceNow by 2.9% during the third quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock valued at $462,000 after buying an additional 14 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. Weiss Ratings cut ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. Piper Sandler decreased their price target on ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. KeyCorp set a $85.00 price target on ServiceNow and gave the company an "underweight" rating in a research report on Thursday, April 23rd. BTIG Research reiterated a "buy" rating and set a $150.00 price target on shares of ServiceNow in a research report on Monday, May 4th. Finally, HSBC decreased their price objective on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued 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 presently has a consensus rating of "Moderate Buy" and an average price target of $141.85.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the company'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 completion of the sale, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,767 shares of company stock worth $2,906,098 in the last three months. Corporate insiders own 0.34% of the company's stock.

ServiceNow Stock Up 2.4%

Shares of NOW opened at $102.13 on Friday. The firm has a market cap of $105.29 billion, a P/E ratio of 60.86, a P/E/G ratio of 1.85 and a beta of 0.82. The stock has a 50 day simple moving average of $98.74 and a two-hundred day simple moving average of $126.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. 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 earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

More ServiceNow News

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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