ServiceNow, Inc. $NOW Holdings Lifted by Clearstead Advisors LLC

Key Points

• Clearstead Advisors LLC increased its ServiceNow stake by 412.8% in the fourth quarter, ending with 106,847 shares valued at about $16.4 million.
• Institutional interest in ServiceNow remains strong, with institutions owning 87.18% of the stock and several other hedge funds also reporting large increases in their positions.
• Analysts remain broadly positive on the company: ServiceNow has a Moderate Buy consensus rating, a $141.85 average price target, and the latest quarterly results showed 22.1% revenue growth while meeting EPS expectations.

Clearstead Advisors LLC grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 412.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,847 shares of the information technology services provider's stock after purchasing an additional 86,010 shares during the period. Clearstead Advisors LLC's holdings in ServiceNow were worth $16,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. Cohen Klingenstein LLC boosted its holdings in shares of ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after acquiring an additional 8,000 shares in the last quarter. World Investment Advisors boosted its holdings in shares of ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock valued at $7,218,000 after acquiring an additional 38,583 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after acquiring an additional 2,064,440 shares in the last quarter. Torray Investment Partners LLC boosted its holdings in shares of ServiceNow by 390.5% in the fourth quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock valued at $6,224,000 after acquiring an additional 32,345 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings 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 acquiring an additional 6,213,762 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group set a $150.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Wells Fargo & Company cut their target price on shares of ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Citigroup increased their target price on shares of ServiceNow from $154.00 to $158.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. DA Davidson reissued a "buy" rating and set a $190.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Cantor Fitzgerald cut their target price on shares of ServiceNow to $122.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $141.85.

ServiceNow Stock Down 0.0%

Shares of NYSE:NOW opened at $102.13 on Monday. 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 company has a market cap of $105.29 billion, a PE ratio of 60.86, a price-to-earnings-growth ratio of 1.85 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 50 day simple moving average of $98.74 and a 200 day simple moving average of $125.73.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting 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 net margin of 12.59% and a return on equity of 18.16%. The firm's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

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 other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

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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