ServiceNow, Inc. $NOW Shares Bought by Montag A & Associates Inc.

Key Points

• Montag A & Associates Inc. dramatically increased its ServiceNow stake in the first quarter, boosting its position by 3,264.2% to 28,259 shares valued at about $2.95 million.
• Hedge funds and other institutional investors continue to dominate ownership, with 87.18% of ServiceNow shares held by institutions, while several other funds also trimmed or added modestly to their positions.
• Analyst sentiment remains generally positive: ServiceNow has a Moderate Buy consensus rating and a $141.22 average price target, even as the stock recently opened at $107.87 and insider selling was reported.

Montag A & Associates Inc. grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3,264.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,259 shares of the information technology services provider's stock after acquiring an additional 27,419 shares during the quarter. Montag A & Associates Inc.'s holdings in ServiceNow were worth $2,954,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NOW. Florida Financial Advisors LLC raised its position in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock valued at $280,000 after purchasing an additional 14 shares during the last quarter. First Affirmative Financial Network grew its position in ServiceNow by 1.7% during the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider's stock worth $821,000 after purchasing an additional 15 shares during the last quarter. Nicolet Advisory Services LLC increased its stake in ServiceNow by 1.1% in the third quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider's stock valued at $1,322,000 after purchasing an additional 16 shares during the period. Opes Wealth Management LLC raised its holdings in shares of ServiceNow by 3.5% in the third quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider's stock valued at $467,000 after buying an additional 17 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its stake in shares of ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock worth $473,000 after buying an additional 18 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOW. Oppenheimer reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Tuesday, May 26th. Citizens Jmp restated a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Citigroup boosted their price target on shares of ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Wells Fargo & Company dropped their target price on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Finally, Wolfe Research set a $125.00 price target on ServiceNow in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.22.

ServiceNow Price Performance

ServiceNow stock opened at $107.87 on Thursday. 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 firm's 50-day simple moving average is $101.74 and its 200 day simple moving average is $111.62. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20. The firm has a market capitalization of $111.22 billion, a PE ratio of 64.29, a P/E/G ratio of 1.84 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. 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. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 in the last quarter. Corporate insiders own 0.34% of the company's stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow shares have been lifted by a broader rotation into beaten-down software stocks, with investors moving away from high-flying semiconductors and into enterprise software names. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Positive Sentiment: Traders are also reacting to a more constructive analyst tone and fresh AI product momentum, with Guggenheim reportedly dismissing the “software extinction” thesis and upgrading ServiceNow. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software 'Extinction' Valuation
• Positive Sentiment: ServiceNow is gaining attention for new AI and government/defense partnerships, including work tied to mission-critical biosurveillance and state health systems, which could expand its addressable market beyond workflow automation. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Another bullish angle is that outside coverage is arguing the “AI bear case” against ServiceNow is weakening, reinforcing the idea that the stock may still have upside despite valuation concerns. ServiceNow: The AI Bear Case Is Falling Apart
• Neutral Sentiment: Several recent pieces, including comparisons with Salesforce and EPAM, are largely valuation and strategy debates rather than immediate catalysts, so they are more likely to shape longer-term sentiment than today’s trading. EPAM or NOW: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: ServiceNow’s appearance in “most watched” and “final trades” media coverage is adding visibility, but these mentions do not appear to be tied to a fundamental business update. ServiceNow, Inc. (NOW) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Macro risk is still present for software stocks, as Middle East tensions pressured peers like Palantir and Salesforce; that kind of market weakness could spill over into ServiceNow if risk appetite fades. Palantir Leads Software Stocks Lower

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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