ServiceNow, Inc. $NOW Shares Acquired by 180 Wealth Advisors LLC

Key Points

• 180 Wealth Advisors LLC boosted its ServiceNow position by 142.6% in the first quarter, ending with 17,810 shares worth about $1.86 million.
• ServiceNow reported first-quarter EPS of $0.97, matching analyst expectations, while revenue rose 22.1% year over year to $3.77 billion and slightly beat estimates.
• Institutional ownership remains very high at 87.18%, while analysts are mostly positive overall with a consensus rating of Moderate Buy and an average price target of $141.47.

180 Wealth Advisors LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 142.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,810 shares of the information technology services provider's stock after purchasing an additional 10,469 shares during the quarter. 180 Wealth Advisors LLC's holdings in ServiceNow were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Covenant Asset Management LLC lifted its position in ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider's stock valued at $3,196,000 after purchasing an additional 13,114 shares during the last quarter. Norges Bank bought a new position in ServiceNow in the 4th quarter worth about $2,020,992,000. World Investment Advisors increased its stake 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 $7,346,000 after purchasing an additional 38,583 shares during the period. Cohen Klingenstein LLC increased its stake 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 purchasing an additional 8,000 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock valued at $6,990,000 after buying an additional 36,274 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NOW traded down $1.03 during midday trading on Friday, reaching $107.81. The stock had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $111.16 billion, a P/E ratio of 64.25, a P/E/G ratio of 1.79 and a beta of 0.96. The firm's 50 day moving average price is $102.49 and its 200-day moving average price is $111.27. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20.

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 analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company earned $0.81 earnings per share. ServiceNow's revenue was up 22.1% compared to the same quarter last year. On average, analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares of the company's stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on NOW shares. BMO Capital Markets lowered their target price on ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Morgan Stanley reduced their price target on ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Bank of America initiated coverage on ServiceNow in a research note on Monday, May 18th. They issued a "buy" rating and a $130.00 price target for the company. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an "underweight" rating in a research note on Thursday, April 23rd. Finally, Evercore upped their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.47.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What's Going On?

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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