IFP Advisors Inc Has $3.40 Million Holdings in ServiceNow, Inc. $NOW

Key Points

• IFP Advisors Inc dramatically increased its stake in ServiceNow by 352.2% in the fourth quarter, ending with 22,172 shares valued at about $3.4 million.
• Wall Street sentiment remains broadly positive, but analysts have cut price targets across several firms; the consensus rating is still Moderate Buy with an average target of $141.85.
• ServiceNow’s latest earnings topped expectations on revenue and matched EPS estimates, with Q1 revenue up 22.1% year over year, while insider selling over the last quarter totaled 31,767 shares.

IFP Advisors Inc boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 352.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,172 shares of the information technology services provider's stock after buying an additional 17,269 shares during the quarter. IFP Advisors Inc's holdings in ServiceNow were worth $3,397,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. IAG Wealth Partners LLC boosted its holdings in ServiceNow by 200.0% in 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 period. Noble Wealth Management PBC boosted its holdings in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC boosted its holdings in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 132 shares during the period. Lodestone Wealth Management LLC bought a new stake in ServiceNow in the 4th quarter valued at $26,000. Finally, Albion Financial Group UT boosted its holdings 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 purchasing an additional 136 shares during the period. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on NOW. Morgan Stanley reduced their price target on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Cantor Fitzgerald reduced their price target on shares of ServiceNow to $122.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Canaccord Genuity Group reduced their price target on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Oppenheimer set a $130.00 price target on shares of ServiceNow and gave the company an "outperform" rating in a report on Wednesday, April 15th. Finally, BMO Capital Markets reduced their price target on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $141.85.

ServiceNow Price Performance

NYSE:NOW opened at $99.70 on Friday. The company has a 50-day moving average of $99.01 and a 200-day moving average of $126.30. The company has a market capitalization of $102.79 billion, a price-to-earnings ratio of 59.42, a PEG ratio of 1.87 and a beta of 0.82. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage with a Buy rating, reinforcing optimism that ServiceNow can benefit from enterprise AI adoption and workflow automation. Article: Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Multiple analysts and media reports are portraying NOW as a prime “agentic AI” play, which is improving sentiment after a long selloff. Article: Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Neutral Sentiment: Citic Securities lowered its price target to $140 from $168 but kept a Buy rating, which is still constructive overall but signals tempered expectations. Article: Citic Securities Adjusts ServiceNow Price Target
• Neutral Sentiment: Additional commentary from conference transcripts and fund letters suggests institutional investors remain constructive, but these items are less likely to move the stock on their own. Article: ServiceNow Presents at J.P. Morgan Conference Transcript

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Fipps sold 3,696 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider owned 8,061 shares of the company's stock, valued at $820,367.97. This trade represents a 31.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,767 shares of company stock valued at $2,906,098 over the last quarter. 0.34% of the stock is currently owned by insiders.

ServiceNow Company 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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