ServiceNow, Inc. $NOW Shares Bought by Thoroughbred Financial Services LLC

Key Points

• Thoroughbred Financial Services LLC boosted its ServiceNow stake by 391.6% in the fourth quarter, adding 9,473 shares to reach 11,892 shares valued at about $1.82 million.
• Institutional interest remains strong, with several other funds also sharply increasing holdings and institutional investors now owning 87.18% of ServiceNow’s stock.
• ServiceNow’s latest earnings showed 22.1% year-over-year revenue growth to $3.77 billion, while EPS of $0.97 matched estimates; analysts currently rate the stock a Moderate Buy with an average price target of $141.85.

Thoroughbred Financial Services LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 391.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,892 shares of the information technology services provider's stock after purchasing an additional 9,473 shares during the period. Thoroughbred Financial Services LLC's holdings in ServiceNow were worth $1,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Cohen Klingenstein LLC increased its holdings in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock worth $1,532,000 after purchasing an additional 8,000 shares during the period. World Investment Advisors increased its holdings in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock worth $7,218,000 after purchasing an additional 38,583 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the period. Torray Investment Partners LLC increased its holdings in ServiceNow by 390.5% during the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock worth $6,224,000 after purchasing an additional 32,345 shares during the period. Finally, Jennison Associates LLC increased its holdings in ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director Paul Edward Chamberlain sold 1,500 shares of the 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 of the company's stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last three months. Corporate insiders own 0.34% of the company's stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow extended gains as investors viewed the stock as deeply undervalued versus GuruFocus’s GF Value estimate, reinforcing bullish sentiment around the name. A Look at ServiceNow Inc (NOW) After 6.5% Gain -- GF Value $225.42 vs Price $108.73
• Positive Sentiment: Wipro announced a deeper partnership with ServiceNow to automate enterprise workflows and embed agentic AI capabilities, which could support longer-term platform adoption and AI revenue opportunities. Wipro and ServiceNow deepen AI partnership to automate enterprise workflows
• Positive Sentiment: Analyst commentary highlighted ServiceNow’s Q1 results as a sign of resilience, with revenue growth around 22% and earnings meeting expectations, while institutional buying and elevated analyst targets continue to support the stock. ServiceNow (NOW) Stock Analysis: Evaluating the Investment Opportunity
• Neutral Sentiment: Unusually heavy call-option activity suggests traders are positioning for further upside, but it may also reflect short-term speculation rather than fundamental conviction.
• Neutral Sentiment: Several articles focused on ServiceNow’s presentation at a software and AI conference and on broader automation-software comparisons, which appear more informational than immediately market-moving.
• Negative Sentiment: Some coverage flagged rising AI competition and questioned whether ServiceNow can sustain growth, a reminder that investors are still watching how effectively the company defends its AI and enterprise software positioning. Can ServiceNow Sustain Its Growth Amid Rising AI Competition?

ServiceNow Price Performance

Shares of NYSE NOW opened at $108.58 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The stock has a 50 day moving average of $97.84 and a two-hundred day moving average of $123.73. The stock has a market cap of $111.95 billion, a P/E ratio of 64.71, a P/E/G ratio of 1.69 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm's revenue for the quarter was up 22.1% on a year-over-year basis. On average, research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NOW shares. DA Davidson restated a "buy" rating and set a $190.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Argus lowered their price objective on ServiceNow from $180.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Oppenheimer reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Tuesday. KeyCorp set a $85.00 price objective on ServiceNow and gave the stock an "underweight" rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus lowered their price objective on ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $141.85.

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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