Profund Advisors LLC Has $2.52 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• Profund Advisors LLC boosted its ServiceNow stake by 335.5% in the fourth quarter, ending with 16,454 shares worth about $2.52 million.
• ServiceNow beat or matched expectations in its latest earnings report, posting $0.97 EPS and $3.77 billion in revenue, with revenue rising 22.1% year over year.
• Analysts remain generally positive on the stock despite some caution, with a Moderate Buy consensus and an average target price of $141.89, while insiders sold shares during the last quarter.

Profund Advisors LLC lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 335.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,454 shares of the information technology services provider's stock after buying an additional 12,676 shares during the quarter. Profund Advisors LLC's holdings in ServiceNow were worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC raised its stake in ServiceNow by 200.0% during the 3rd 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 raised its stake in ServiceNow by 400.0% during the 4th 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 raised its stake in ServiceNow by 400.0% during 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. Lodestone Wealth Management LLC acquired a new position in ServiceNow during the 4th quarter valued at $26,000. Finally, Albion Financial Group UT raised its stake in ServiceNow by 400.0% during the 4th 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 and hedge funds.

ServiceNow Trading Down 1.7%

Shares of NOW stock opened at $101.71 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $104.86 billion, a price-to-earnings ratio of 60.61, a P/E/G ratio of 1.76 and a beta of 0.82. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The firm has a fifty day moving average of $99.72 and a 200-day moving average of $127.48.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. BTIG Research reiterated a "buy" rating and set a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. DA Davidson reiterated a "buy" rating and set a $190.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. BMO Capital Markets cut their target price on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Finally, Truist Financial cut their target price on shares of ServiceNow from $125.00 to $120.00 and set a "buy" 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-three have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $141.89.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company's 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 sale, the director directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company's 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 directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,767 shares of company stock worth $2,906,098 in the last quarter. 0.34% of the stock is owned by company insiders.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

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.

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