Quantum Private Wealth LLC Raises Stake in ServiceNow, Inc. $NOW

Key Points

• Quantum Private Wealth LLC boosted its ServiceNow stake by 401.3% in the fourth quarter, ending with 17,867 shares worth about $2.74 million.
• ServiceNow’s latest earnings showed $0.97 EPS and $3.77 billion in revenue, both in line with or slightly above expectations, with revenue up 22.1% year over year.
• Wall Street sentiment remains broadly positive, with multiple firms reiterating buy ratings and an average price target of $141.89, though some analysts have trimmed their targets amid ongoing valuation concerns.

Quantum Private Wealth LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 401.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,867 shares of the information technology services provider's stock after purchasing an additional 14,303 shares during the quarter. ServiceNow comprises approximately 0.8% of Quantum Private Wealth LLC's holdings, making the stock its 25th largest holding. Quantum Private Wealth LLC's holdings in ServiceNow were worth $2,737,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Adell Harriman & Carpenter Inc. grew its holdings in shares of ServiceNow by 385.0% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 5,160 shares of the information technology services provider's stock worth $790,000 after purchasing an additional 4,096 shares during the period. Northbridge Financial Group LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth about $1,119,000. Investment House LLC grew its holdings in shares of ServiceNow by 173.4% during the 4th quarter. Investment House LLC now owns 1,840 shares of the information technology services provider's stock worth $282,000 after purchasing an additional 1,167 shares during the period. Intrust Bank NA grew its holdings in shares of ServiceNow by 402.1% during the 4th quarter. Intrust Bank NA now owns 8,692 shares of the information technology services provider's stock worth $1,332,000 after purchasing an additional 6,961 shares during the period. Finally, First Business Financial Services Inc. lifted its position in ServiceNow by 393.8% during the 4th quarter. First Business Financial Services Inc. now owns 1,990 shares of the information technology services provider's stock worth $305,000 after acquiring an additional 1,587 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW opened at $101.71 on Wednesday. The business's 50 day moving average is $99.72 and its two-hundred day moving average is $127.48. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The firm has a market cap of $104.86 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 1.76 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company 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 company posted $0.81 EPS. ServiceNow's quarterly revenue was up 22.1% on a year-over-year basis. Analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. DA Davidson reissued a "buy" rating and set a $190.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Morgan Stanley reduced their price target on ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Citigroup boosted their price target on ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. BTIG Research reissued a "buy" rating and set a $150.00 price target on shares of ServiceNow in a research report on Monday, May 4th. Finally, Raymond James Financial reduced their price target on ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.89.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the transaction, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 31,767 shares of company stock valued at $2,906,098. Company insiders own 0.34% of the company's stock.

ServiceNow News Summary

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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