Jag Capital Management LLC Has $3.57 Million Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Jag Capital Management boosted its ServiceNow stake by 397.6% in the fourth quarter, ending with 23,280 shares worth about $3.57 million.
• ServiceNow shares were trading down 1.7% at $101.71, after recently moving between a 52-week low of $81.24 and high of $211.48.
• The company’s latest earnings matched expectations, with $0.97 EPS and $3.77 billion in revenue, while analysts remain cautiously bullish with a Moderate Buy rating and average price target of $141.89.

Jag Capital Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 397.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,280 shares of the information technology services provider's stock after acquiring an additional 18,602 shares during the quarter. Jag Capital Management LLC's holdings in ServiceNow were worth $3,566,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC lifted its stake in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC lifted its stake in ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC lifted its stake in ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after buying an additional 132 shares during the period. Lodestone Wealth Management LLC acquired a new position in ServiceNow in the fourth quarter valued at about $26,000. Finally, Albion Financial Group UT lifted its stake in ServiceNow by 400.0% in the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock valued at $26,000 after buying an additional 136 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Down 1.7%

NYSE NOW opened at $101.71 on Wednesday. The firm has a market cap of $104.86 billion, a P/E ratio of 60.61, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock's 50-day moving average is $99.72 and its 200-day moving average is $127.48. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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 for 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 was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOW. DA Davidson reissued a "buy" rating and issued a $190.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Macquarie Infrastructure cut their target price on ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, January 29th. FBN Securities cut their target price on ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. HSBC cut their target price on ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Finally, Benchmark began coverage on ServiceNow in a research note on Wednesday, April 1st. They issued a "buy" rating and a $125.00 target price on the stock. Two 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 company's stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $141.89.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated Thursday, May 14th. The stock was 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 in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, 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. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,767 shares of company stock valued at $2,906,098 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

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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