ServiceNow, Inc. $NOW is Virtu Financial LLC's 10th Largest Position

Key Points

• Virtu Financial LLC boosted its ServiceNow stake by 6,892.7% in the fourth quarter, ending with 79,996 shares valued at about $12.3 million. That made ServiceNow its 10th largest position.
• Several other institutional investors also increased or initiated positions in NOW, and hedge funds and institutions now own 87.18% of the company’s stock, underscoring strong institutional interest.
• ServiceNow’s recent news flow is broadly positive, with new AI partnership expansions and upbeat analyst sentiment; the stock currently carries a Moderate Buy consensus and an average price target of $142.17.

Virtu Financial LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6,892.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,996 shares of the information technology services provider's stock after purchasing an additional 78,852 shares during the quarter. ServiceNow makes up about 0.5% of Virtu Financial LLC's holdings, making the stock its 10th largest position. Virtu Financial LLC's holdings in ServiceNow were worth $12,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. IAG Wealth Partners LLC increased its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares during the period. Wealth Watch Advisors INC acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $37,000. Ameriflex Group Inc. grew its position in shares of ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new position in shares of ServiceNow during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem with new partnerships involving Wipro, Digimarc, and HPE, highlighting broader adoption of its platform for enterprise rollout, AI trust, and unified operations. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Cognizant said ServiceNow AI Agents now interoperate with its Neuro AI Multi-Agent Accelerator, which could strengthen ServiceNow’s position in cross-platform enterprise AI orchestration. Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Positive Sentiment: Aria Systems and ServiceNow launched what they called the world’s first agentic BSS for telecoms, suggesting another vertical use case that could expand ServiceNow’s enterprise footprint. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms
• Positive Sentiment: Analyst coverage remains upbeat: one roundup cited 90% of 50 analysts with Buy ratings and an average price target implying meaningful upside, reinforcing the stock’s long-term AI growth narrative. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Neutral Sentiment: Zacks highlighted ServiceNow’s AI Control Tower as a potential future growth engine, but the article was more of a thesis piece than a hard catalyst. Can AI Control Tower Become ServiceNow's Next Growth Engine?

ServiceNow Price Performance

Shares of NYSE:NOW opened at $95.51 on Friday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a 50-day moving average price of $99.60 and a 200 day moving average price of $117.97. The company has a market cap of $98.47 billion, a P/E ratio of 56.92, a PEG ratio of 1.58 and a beta of 0.94. 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 released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. Research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Capital One Financial upped their price target on shares of ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. BTIG Research reissued a "buy" rating and set a $150.00 price objective on shares of ServiceNow in a research report on Monday, May 4th. Bank of America started coverage on shares of ServiceNow in a research note on Monday, May 18th. They issued a "buy" rating and a $130.00 price objective on the stock. BMO Capital Markets reduced their target price on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Finally, TD Cowen reiterated a "buy" rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.17.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at $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 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is owned by corporate insiders.

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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