Security National Bank Acquires 32,349 Shares of ServiceNow, Inc. $NOW

Key Points

• Security National Bank boosted its ServiceNow stake by 448.9% in the fourth quarter, buying 32,349 additional shares and bringing its total holdings to 39,556 shares worth about $6.06 million.
• Other major institutional investors also increased their positions, and overall institutional ownership stands at 87.18% of ServiceNow’s stock.
• ServiceNow reported Q1 results that met EPS expectations at $0.97 and slightly beat revenue estimates with $3.77 billion, while analysts still rate the stock a Moderate Buy with a consensus price target of $144.71.

Security National Bank increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 448.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,556 shares of the information technology services provider's stock after purchasing an additional 32,349 shares during the quarter. Security National Bank's holdings in ServiceNow were worth $6,060,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NOW. Vanguard Group Inc. increased its position in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. Jennison Associates LLC increased its position in shares of ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB increased its position in shares of ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after purchasing an additional 3,743,087 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of ServiceNow by 613.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock worth $588,326,000 after purchasing an additional 3,301,962 shares in the last quarter. Finally, Swedbank AB increased its position in shares of ServiceNow by 326.9% during the 4th quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider's stock worth $523,243,000 after purchasing an additional 2,615,500 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Morgan Stanley dropped their target price on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Piper Sandler dropped their target price on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Citigroup increased their target price on shares of ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, DA Davidson restated a "buy" rating and issued a $190.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. Two research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.71.

ServiceNow Trading Up 5.1%

NOW opened at $95.15 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 stock has a market capitalization of $98.10 billion, a PE ratio of 56.71, a PEG ratio of 1.68 and a beta of 0.82. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The firm has a 50-day moving average price of $100.52 and a two-hundred day moving average price of $129.07.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the transaction, the insider directly owned 8,061 shares in the company, valued at $820,367.97. This trade represents a 31.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,415 shares of company stock valued at $2,210,933 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow's Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

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.

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.