North Star Asset Management Inc. Increases Position in ServiceNow, Inc. $NOW

Key Points

• North Star Asset Management boosted its ServiceNow stake by 612.9% in the fourth quarter, ending with 43,491 shares valued at about $6.7 million.
• ServiceNow’s latest quarterly results were in line with expectations, as it reported $0.97 EPS on $3.77 billion in revenue, with sales up 22.1% year over year.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus and an average price target of $141.85, though several firms recently trimmed their targets.

North Star Asset Management Inc. raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 612.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,491 shares of the information technology services provider's stock after acquiring an additional 37,390 shares during the period. North Star Asset Management Inc.'s holdings in ServiceNow were worth $6,662,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NOW. Vanguard Group Inc. grew its position in shares of ServiceNow by 404.5% in 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 purchasing an additional 81,752,460 shares in the last quarter. State Street Corp grew its position in shares of ServiceNow by 1.4% in 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 purchasing an additional 131,080 shares in the last quarter. Jennison Associates LLC grew its position in shares of ServiceNow by 280.1% in 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 purchasing an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB grew its position in shares of ServiceNow by 388.7% in 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 purchasing an additional 3,743,087 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of ServiceNow by 613.4% in 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 purchasing an additional 3,301,962 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

ServiceNow stock opened at $102.13 on Friday. The firm has a 50 day simple moving average of $98.74 and a 200-day simple moving average of $126.13. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-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 stock has a market cap of $105.29 billion, a price-to-earnings ratio of 60.86, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the prior year, the company posted $0.81 EPS. The business's revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. FBN Securities dropped their price target on ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. UBS Group set a $150.00 price target on ServiceNow in a research report on Thursday, April 23rd. Citizens Jmp restated a "market outperform" rating and issued a $157.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Raymond James Financial dropped their price target on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Finally, DA Davidson restated a "buy" rating and issued a $190.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $141.85.

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

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the 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 transaction, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 31,767 shares of company stock worth $2,906,098. 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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.