ServiceNow, Inc. $NOW Shares Bought by Clearstead Trust LLC

Key Points

• Clearstead Trust LLC increased its ServiceNow stake by 374.3% in the fourth quarter, adding 15,427 shares and bringing its total holdings to 19,549 shares worth about $3.0 million.
• Several other major institutional investors also boosted their positions, and institutional ownership now stands at 87.18% of ServiceNow’s stock, signaling continued large-fund interest.
• ServiceNow reported quarterly EPS of $0.97, matching estimates, while revenue rose 22.1% year over year to $3.77 billion; analysts still generally rate the stock a Moderate Buy with a consensus target price of $141.85.

Clearstead Trust LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 374.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,549 shares of the information technology services provider's stock after acquiring an additional 15,427 shares during the period. Clearstead Trust LLC's holdings in ServiceNow were worth $2,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares in the last quarter. State Street Corp boosted its stake in shares of ServiceNow by 1.4% during the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock worth $8,700,970,000 after buying an additional 131,080 shares during the period. Jennison Associates LLC boosted its stake in shares of ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after buying an additional 6,213,762 shares during the period. Legal & General Group Plc boosted its stake in shares of ServiceNow by 406.8% during the fourth quarter. Legal & General Group Plc now owns 6,895,985 shares of the information technology services provider's stock worth $1,056,396,000 after buying an additional 5,535,170 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of ServiceNow by 388.7% during the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after buying an additional 3,743,087 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $102.13 on Monday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $105.29 billion, a P/E ratio of 60.86, a PEG ratio of 1.85 and a beta of 0.82. The company has a 50-day moving average price of $98.74 and a 200 day moving average price of $125.73.

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

Key Stories Impacting ServiceNow

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 Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated 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. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. FBN Securities decreased their target price on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. The Goldman Sachs Group decreased their target price on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Canaccord Genuity Group decreased their target price on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, Bank of America initiated coverage on shares of ServiceNow in a research report on Monday, May 18th. They issued a "buy" rating and a $130.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.85.

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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