Navalign LLC Buys 11,650 Shares of ServiceNow, Inc. $NOW

Key Points

• Navalign LLC significantly increased its stake in ServiceNow during the first quarter, buying 11,650 additional shares and raising its position by 16,642.9% to 11,720 shares worth about $1.225 million.
• ServiceNow reported solid quarterly results, matching earnings expectations at $0.97 per share and topping revenue estimates with $3.77 billion in sales, up 22.1% from a year earlier.
• Analysts remain broadly positive despite some target cuts, with the stock carrying a “Moderate Buy” consensus and an average price target of $141.68; recent coverage also highlighted AI partnerships and improving sentiment around the company’s software model.

Navalign LLC lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 16,642.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,720 shares of the information technology services provider's stock after purchasing an additional 11,650 shares during the quarter. Navalign LLC's holdings in ServiceNow were worth $1,225,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Noble Wealth Management PBC boosted its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC raised its position 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 last quarter. CBIZ Investment Advisory Services LLC raised its position in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new position in ServiceNow in the fourth quarter worth $25,000. Finally, Measured Wealth Private Client Group LLC boosted its stake in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Up 2.4%

Shares of NYSE NOW opened at $110.57 on Wednesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $210.20. The firm's 50-day moving average is $101.40 and its 200-day moving average is $111.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $114.00 billion, a PE ratio of 65.90, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the business posted $0.81 earnings per share. ServiceNow's revenue was up 22.1% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm'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 transaction of $799,859.20. Following the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company's stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Shares are benefiting from a broader rotation into software stocks as money moves out of semiconductors and into names that have lagged. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Positive Sentiment: Traders are reacting to AI-related product momentum and a more constructive analyst tone after Guggenheim pushed back on bearish “software extinction” arguments. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software 'Extinction' Valuation
• Positive Sentiment: New AI partnerships with defense and state agencies suggest ServiceNow’s platform is expanding beyond traditional workflow automation into mission-critical public sector use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Analysts and commentators are increasingly arguing that fears AI would disrupt ServiceNow’s software model may be overdone, which is improving the stock’s valuation narrative. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Neutral Sentiment: Recent coverage noted ServiceNow has outperformed the broader market and continues to attract attention as a possible contrarian software name, but this is more a reflection of momentum than a new fundamental catalyst. ServiceNow (NOW) Outperforms Broader Market: What You Need to Know

Analyst Ratings Changes

A number of research firms recently issued reports on NOW. Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Barclays reiterated an "overweight" rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Wells Fargo & Company decreased their price target on shares of ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Finally, HSBC lowered their price target on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $141.68.

ServiceNow 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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