ServiceNow, Inc. $NOW Shares Purchased by Lingotto Investment Management LLP

Key Points

• Lingotto Investment Management LLP boosted its ServiceNow stake by 518.9% in the fourth quarter, bringing its holdings to 285,325 shares worth about $43.7 million.
• ServiceNow’s stock was up 9.1% and opened at $135.70, while the company’s latest quarter met EPS expectations and slightly beat revenue estimates with 22.1% year-over-year revenue growth.
• Wall Street sentiment remains constructive: analysts currently rate ServiceNow a Moderate Buy, with an average price target of $141.85, even as some firms have trimmed their targets.

Lingotto Investment Management LLP increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 518.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,325 shares of the information technology services provider's stock after purchasing an additional 239,221 shares during the period. ServiceNow accounts for about 0.8% of Lingotto Investment Management LLP's holdings, making the stock its 18th biggest position. Lingotto Investment Management LLP's holdings in ServiceNow were worth $43,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC raised its holdings in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 18 shares during the last quarter. Noble Wealth Management PBC raised its holdings in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC raised its holdings in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC raised 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 acquiring an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC acquired a new position in ServiceNow in the 4th quarter valued at $25,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Up 9.1%

Shares of NYSE NOW opened at $135.70 on Tuesday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company has a market cap of $139.91 billion, a P/E ratio of 80.87, a P/E/G ratio of 2.05 and a beta of 0.94. 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 stock has a fifty day moving average price of $98.50 and a 200 day moving average price of $123.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. Research analysts anticipate that ServiceNow, Inc. will post 2.36 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. The trade was a 3.23% 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. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. 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 is benefiting from a broad software rally after Nvidia’s Jensen Huang said AI should be seen as an opportunity for software firms rather than a threat. ServiceNow, Adobe stocks jump as Nvidia's new AI chip sparks software rally
• Positive Sentiment: Investors are also reacting to ServiceNow’s recent quarterly results, which beat revenue estimates and showed continued double-digit growth, supporting the view that fundamentals remain strong. ServiceNow (NOW) shares skyrocket, what you need to know
• Positive Sentiment: Coverage points to ServiceNow as a leader in the software comeback, with investors betting the sector may have more room to rebound as AI demand grows. ServiceNow Is Leading a Software Comeback for These Stocks
• Neutral Sentiment: Commentary around “agentic AI” and ServiceNow’s role in enterprise automation is adding to bullish sentiment, but it is more narrative-driven than a new hard catalyst. What Exactly Is Agentic AI, and Why Are Some Stocks Blowing Up Because of It? (NOW)
• Neutral Sentiment: Analyst and media coverage continues to highlight ServiceNow as a stock with upside potential, reinforcing the positive tone but not adding a new company-specific announcement. ServiceNow Stock: Is NOW Underperforming the Technology Sector?

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NOW shares. Barclays reiterated an "overweight" rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Mizuho cut their price target on ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Citizens Jmp reiterated a "market outperform" rating and issued a $157.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Canaccord Genuity Group cut their price target on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald cut their price target on ServiceNow to $122.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Two analysts have 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.85.

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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