Legacy Financial Advisors Inc. Acquires 11,652 Shares of ServiceNow, Inc. $NOW

Key Points

• Legacy Financial Advisors increased its ServiceNow stake by 1,134.6% in the fourth quarter, buying 11,652 additional shares and bringing its total holdings to 12,679 shares worth about $1.94 million.
• Several other institutional investors also boosted their positions, and overall 87.18% of ServiceNow’s stock is owned by institutions, showing continued heavy professional ownership.
• ServiceNow recently reported quarterly EPS of $0.97, matching estimates, while revenue rose 22.1% year over year to $3.77 billion, but the stock was trading lower and analysts have trimmed price targets despite maintaining a generally positive stance.

Legacy Financial Advisors Inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1,134.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,679 shares of the information technology services provider's stock after purchasing an additional 11,652 shares during the quarter. Legacy Financial Advisors Inc.'s holdings in ServiceNow were worth $1,942,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares in the last quarter. State Street Corp increased its holdings in shares of ServiceNow by 1.4% during the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock valued at $8,700,970,000 after acquiring an additional 131,080 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after acquiring an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of ServiceNow by 388.7% during the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after acquiring an additional 3,743,087 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of ServiceNow by 613.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after acquiring an additional 3,301,962 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Down 2.7%

Shares of NYSE NOW opened at $89.03 on Wednesday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. 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 business's fifty day moving average price is $101.80 and its 200-day moving average price is $130.69. The stock has a market capitalization of $91.79 billion, a PE ratio of 53.06, a P/E/G ratio of 1.62 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 9,641 shares of the company's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, the insider owned 11,757 shares of the company's stock, valued at $1,245,419.01. This represents a 45.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the company's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the transaction, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 25,315 shares of company stock worth $2,510,682 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NOW has been the subject of several recent research reports. Mizuho decreased their price objective on ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. FBN Securities decreased their price objective on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. BMO Capital Markets decreased their price objective on ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. HSBC decreased their price objective on ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Finally, Stifel Nicolaus cut their target price on ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $144.71.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Boomi and ServiceNow launched a partnership around the Workflow Data Network Passport Program, which could strengthen ServiceNow’s AI and data-integration growth narrative. Boomi and ServiceNow Partner to Power Data Activation Across the Enterprise
• Positive Sentiment: Analysts remain constructive on ServiceNow, with Evercore ISI raising its price target to $150 and BMO reiterating an Outperform rating, citing strength in AI-related growth and the platform’s defensive qualities. ServiceNow (NOW) Price Target Raised as AI Growth Story Gains Strength
• Positive Sentiment: FedEx is expanding its partnership with ServiceNow, another sign that large enterprise customers are deepening usage of the platform. FedEx expands ServiceNow partnership
• Neutral Sentiment: ServiceNow also used its Knowledge 2026 conference to highlight new AI control, security, and identity offerings, underscoring product momentum but without a clear near-term financial impact. ServiceNow Seeks AI Control Role As Stock Struggles And Partnerships Grow
• Neutral Sentiment: An insider sale by Paul Fipps was disclosed, but the transaction was small and executed under a pre-arranged 10b5-1 trading plan, so it is less likely to be viewed as a major signal. SEC insider filing for Paul Fipps
• Negative Sentiment: ServiceNow plans to raise $4 billion through a bond sale, which could raise financing concerns for some investors even though the company has strong business momentum. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale

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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