ServiceNow, Inc. $NOW Shares Purchased by Goodman Advisory Group LLC

Key Points

• Goodman Advisory Group LLC sharply increased its ServiceNow stake by 449% in the fourth quarter, ending with 41,342 shares worth about $6.33 million. The stock now represents about 1.6% of the firm’s holdings.
• Institutional ownership remains very high, with hedge funds and other institutional investors owning 87.18% of ServiceNow shares. Several other funds also added to positions during the period.
• Analysts remain mostly constructive on ServiceNow, with a consensus “Moderate Buy” rating and average price target of $141.85, even as some recent commentary raised valuation concerns and insiders have sold shares over the past 90 days.

Goodman Advisory Group LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 449.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,342 shares of the information technology services provider's stock after acquiring an additional 33,811 shares during the period. ServiceNow accounts for about 1.6% of Goodman Advisory Group LLC's holdings, making the stock its 28th biggest position. Goodman Advisory Group LLC's holdings in ServiceNow were worth $6,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Brighton Jones LLC increased its position in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock worth $861,000 after acquiring an additional 34 shares during the period. United Bank lifted its stake in shares of ServiceNow by 15.5% in the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock worth $1,562,000 after acquiring an additional 204 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in shares of ServiceNow by 2.2% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after acquiring an additional 42 shares during the period. Finally, Nebula Research & Development LLC lifted its stake in shares of ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after acquiring an additional 609 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Robert W. Baird reduced their target price on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating for the company 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. Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Benchmark started coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They issued a "buy" rating and a $125.00 target price for the company. Finally, Bank of America started coverage on ServiceNow in a report on Monday, May 18th. They set a "buy" rating and a $130.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.85.

Insider Activity at ServiceNow

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

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new AI hiring-agent partnership with Phenom, which could strengthen its workplace automation offerings and support future enterprise demand. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, pointing to AI growth, pricing power, and a potential long-term revenue path that supports the investment case. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow and NICE launched an AI solution linking customer engagement with enterprise workflows, a partnership that could deepen the company’s platform value and expand use cases. ServiceNow NICE AI Alliance Links Customer Engagement To Core Workflows
• Neutral Sentiment: Zacks said investors have been heavily searching for ServiceNow, highlighting elevated trader interest, but the note did not include a major fundamental catalyst. Investors Heavily Search ServiceNow, Inc. (NOW): Here is What You Need to Know
• Neutral Sentiment: Jim Cramer said ServiceNow is “expensive,” reinforcing valuation concerns that may be limiting upside even as the business remains strong. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: TechCrunch reported that a bug exposed some customer data to the internet, and other security articles said the vulnerability was exploited against some customers. That raises a potential trust and compliance risk for the platform. ServiceNow tells customers a bug left some of their data exposed to the internet

ServiceNow Price Performance

NOW stock opened at $106.27 on Thursday. The firm has a 50 day moving average of $99.87 and a 200-day moving average of $120.59. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $109.57 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 1.77 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly 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 the consensus estimate of $3.75 billion. During the same period last year, the firm earned $0.81 EPS. The company's revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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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