ServiceNow, Inc. $NOW Shares Bought by Diversify Wealth Management LLC

Key Points

• Diversify Wealth Management LLC nearly doubled its stake in ServiceNow during the first quarter, increasing holdings by 97.3% to 245,388 shares valued at about $25.7 million.
• ServiceNow continues to draw bullish analyst attention, with firms like Truist and Benchmark raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target of $141.47.
• The company posted solid quarterly results, meeting EPS expectations at $0.97 and delivering $3.77 billion in revenue, up 22.1% year over year, even as shares recently traded lower amid profit-taking.

Diversify Wealth Management LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 97.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,388 shares of the information technology services provider's stock after buying an additional 121,029 shares during the period. Diversify Wealth Management LLC's holdings in ServiceNow were worth $25,655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Noble Wealth Management PBC raised its position in shares of ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its position in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Blueline Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth about $25,000. Finally, Measured Wealth Private Client Group LLC lifted its stake in shares of ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

More 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?

Analyst Ratings Changes

NOW has been the subject of several analyst reports. Citic Securities dropped their target price on ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Benchmark lifted their target price on ServiceNow from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, June 15th. 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. HSBC decreased their price target on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Finally, Weiss Ratings lowered ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.47.

ServiceNow Stock Performance

Shares of NYSE:NOW traded down $1.03 during trading on Friday, reaching $107.81. 11,058,890 shares of the company's stock traded hands, compared to its average volume of 20,996,616. The stock has a market capitalization of $111.16 billion, a P/E ratio of 64.25, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a 50 day moving average of $102.49 and a 200-day moving average of $111.27. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company's quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of the 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 completion of the transaction, the insider owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last 90 days. Insiders own 0.34% of the company's stock.

About ServiceNow

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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