Nicola Wealth Management LTD. Raises Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Nicola Wealth Management increased its ServiceNow stake by 400% in the fourth quarter, buying 110,400 additional shares and bringing its total to 138,000 shares worth about $21.14 million.
• Institutional ownership of ServiceNow remains high at 87.18%, and several other hedge funds also boosted their positions during the period.
• Analysts are still broadly constructive on the stock despite recent target cuts: ServiceNow carries a Moderate Buy consensus rating with a $141.85 average price target, while recent quarterly results showed 22.1% revenue growth year over year.

Nicola Wealth Management LTD. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,000 shares of the information technology services provider's stock after purchasing an additional 110,400 shares during the quarter. ServiceNow accounts for about 1.9% of Nicola Wealth Management LTD.'s holdings, making the stock its 15th biggest holding. Nicola Wealth Management LTD.'s holdings in ServiceNow were worth $21,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of NOW. IAG Wealth Partners LLC lifted its position in ServiceNow by 200.0% during the third 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 last quarter. Noble Wealth Management PBC lifted its position in ServiceNow by 400.0% during the fourth 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 last quarter. Millstone Evans Group LLC lifted its position in ServiceNow by 400.0% during the fourth 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. Lodestone Wealth Management LLC bought a new stake in ServiceNow during the fourth quarter valued at approximately $26,000. Finally, Albion Financial Group UT lifted its position in ServiceNow by 400.0% during the fourth 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 last quarter. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOW. Canaccord Genuity Group dropped their target price on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Citizens Jmp reiterated a "market outperform" rating and set a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Truist Financial dropped their target price on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Stifel Nicolaus dropped their target price on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company cut their target price on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on 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 sale, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last three months. Corporate insiders own 0.34% of the company's stock.

ServiceNow Stock Down 0.0%

Shares of NOW opened at $102.13 on Monday. The firm has a market cap of $105.29 billion, a P/E ratio of 60.86, a P/E/G ratio of 1.85 and a beta of 0.82. The stock has a 50 day simple moving average of $98.74 and a two-hundred day simple moving average of $125.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during 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 for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

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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