ServiceNow, Inc. $NOW Shares Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management increased its ServiceNow position by 31.3% in the first quarter, adding 23,989 shares to bring its total to 100,594 shares worth about $10.5 million.
• ServiceNow reported Q1 earnings of $0.97 per share, matching analyst expectations, while revenue of $3.77 billion slightly topped estimates and rose 22.1% year over year.
• Despite some recent insider selling and multiple analyst price-target cuts, the stock has drawn bullish coverage, with several firms maintaining buy ratings and highlighting valuation and AI-related growth opportunities.

iA Global Asset Management Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 31.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,594 shares of the information technology services provider's stock after acquiring an additional 23,989 shares during the quarter. iA Global Asset Management Inc.'s holdings in ServiceNow were worth $10,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $29,000. Texas Capital Bancshares Inc TX purchased a new position in ServiceNow in the 3rd quarter valued at approximately $37,000. Ameriflex Group Inc. grew its stake in shares of ServiceNow by 187.5% in the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 30 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in shares of ServiceNow during the third quarter worth $50,000. Finally, Pin Oak Investment Advisors Inc. increased its position in shares of ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider's stock worth $123,000 after acquiring an additional 23 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 6.6%

NYSE:NOW opened at $105.81 on Thursday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The stock has a market cap of $109.09 billion, a P/E ratio of 63.06, a P/E/G ratio of 1.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day simple moving average of $100.35 and a 200-day simple moving average of $113.40.

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 for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 ninety days. Company insiders own 0.34% of the company's stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy and said the stock’s valuation looks too depressed despite real AI-related risks, helping spark a rally in the shares. ServiceNow and Salesforce shares now look like buys, as ‘Armageddon' fears are too extreme, analyst says
• Positive Sentiment: ServiceNow and Accenture launched a joint initiative to modernize enterprise risk management with agentic AI, reinforcing the company’s position in AI-powered workflow and security software. Why ServiceNow Stock Is Rising Today
• Positive Sentiment: Analysts and recent articles highlighted ServiceNow’s enterprise AI adoption, security expansion, and strong workflow demand as potential supports for long-term growth and future earnings upside. NOW Benefits From Enterprise AI Adoption: Buy, Sell, or Hold the Stock?

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Canaccord Genuity Group cut their price target on ServiceNow from $200.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Truist Financial reduced their price target on ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. The Goldman Sachs Group decreased their price objective on ServiceNow from $188.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group reissued a "buy" rating and set a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. One equities 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.68.

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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