Intech Investment Management LLC Increases Stock Position in ServiceNow, Inc. $NOW

Key Points

• Intech Investment Management increased its ServiceNow stake by 411.9% in the fourth quarter, ending with 46,320 shares worth about $7.1 million.
• ServiceNow reported Q1 earnings of $0.97 per share, matching estimates, while revenue of $3.77 billion slightly topped forecasts and rose 22.1% year over year.
• Wall Street remains broadly positive on the stock, with a consensus Moderate Buy rating and an average price target of $141.85, even as some firms trimmed targets.

Intech Investment Management LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 411.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,320 shares of the information technology services provider's stock after buying an additional 37,272 shares during the quarter. Intech Investment Management LLC's holdings in ServiceNow were worth $7,096,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Carnegie Lake Advisors LLC boosted its stake in ServiceNow by 400.0% during the fourth quarter. Carnegie Lake Advisors LLC now owns 4,820 shares of the information technology services provider's stock worth $738,000 after buying an additional 3,856 shares during the period. Foundations Investment Advisors LLC boosted its stake in ServiceNow by 419.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 5,140 shares of the information technology services provider's stock worth $787,000 after buying an additional 4,150 shares during the period. Baker Avenue Asset Management LP boosted its stake in ServiceNow by 411.5% during the fourth quarter. Baker Avenue Asset Management LP now owns 15,356 shares of the information technology services provider's stock worth $2,352,000 after buying an additional 12,354 shares during the period. IFG Advisory LLC boosted its stake in ServiceNow by 438.7% during the fourth quarter. IFG Advisory LLC now owns 1,530 shares of the information technology services provider's stock worth $234,000 after buying an additional 1,246 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its position in shares of ServiceNow by 391.6% during the fourth quarter. Thoroughbred Financial Services LLC now owns 11,892 shares of the information technology services provider's stock worth $1,821,000 after purchasing an additional 9,473 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $124.56 on Friday. The firm has a market capitalization of $128.42 billion, a P/E ratio of 74.23, a P/E/G ratio of 2.06 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 quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $98.05 and its two-hundred day moving average is $123.74.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm's revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NOW shares. HSBC reduced their price target 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. BNP Paribas Exane raised shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price target on the stock in a research report on Monday, March 16th. Evercore increased their price target on shares of ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Cantor Fitzgerald reduced their price target on shares of ServiceNow to $122.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $141.85.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on 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 owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company's stock.

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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