Parr Mcknight Wealth Management Group LLC Purchases 10,642 Shares of ServiceNow, Inc. $NOW

Key Points

• Parr Mcknight Wealth Management Group increased its ServiceNow stake by 405.4% in the fourth quarter, buying 10,642 additional shares and bringing its total holdings to 13,267 shares worth about $2.03 million.
• ServiceNow reported solid quarterly results, with earnings of $0.97 per share matching estimates and revenue of $3.77 billion, up 22.1% year over year. Analysts still expect the company to earn 2.36 EPS for the current year.
• Despite strong institutional interest and upbeat analyst ratings, insider selling has been notable recently, including share sales by directors Paul Edward Chamberlain and Anita M. Sands. Analysts currently assign ServiceNow a Moderate Buy consensus with a $141.85 price target.

Parr Mcknight Wealth Management Group LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 405.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,267 shares of the information technology services provider's stock after acquiring an additional 10,642 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in ServiceNow were worth $2,032,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NOW. Meridian Wealth Advisors LLC grew its stake in shares of ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock valued at $508,000 after buying an additional 12 shares during the last quarter. Valley Brook Capital Group Inc. grew its stake in shares of ServiceNow by 2.1% during the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock valued at $583,000 after buying an additional 13 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock valued at $1,169,000 after buying an additional 13 shares during the last quarter. JT Stratford LLC grew its stake in shares of ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after buying an additional 13 shares during the last quarter. Finally, Abbot Financial Management Inc. grew its stake in shares of ServiceNow by 2.9% during the third quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock valued at $462,000 after buying an additional 14 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

ServiceNow stock opened at $124.56 on Friday. 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 50-day moving average of $98.05 and a 200-day moving average of $123.74. The firm has a market cap of $128.42 billion, a P/E ratio of 74.23, a P/E/G ratio of 2.06 and a beta of 0.82. 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 posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 2.36 EPS for the current year.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated 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 sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. 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, 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 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company's stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOW. UBS Group reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Tuesday. BTIG Research reaffirmed a "buy" rating and set a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. Oppenheimer reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Tuesday. Bank of America began coverage on ServiceNow in a research note on Monday, May 18th. They set a "buy" rating and a $130.00 price objective on the stock. Finally, DA Davidson reaffirmed a "buy" rating and set a $190.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $141.85.

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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