ServiceNow, Inc. $NOW Shares Purchased by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC boosted its ServiceNow stake by 376.2% in the fourth quarter, ending with 24,954 shares valued at about $3.82 million.
• Institutional ownership remains heavy, with 87.18% of ServiceNow shares held by institutions and hedge funds; several other firms also increased positions, including a large new stake from Norges Bank.
• ServiceNow reported quarterly earnings of $0.97 per share, matching estimates, while revenue rose 22.1% year over year to $3.77 billion; analysts currently rate the stock Moderate Buy with an average target of $141.85.

Parallel Advisors LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 376.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,954 shares of the information technology services provider's stock after purchasing an additional 19,714 shares during the quarter. Parallel Advisors LLC's holdings in ServiceNow were worth $3,823,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $2,020,992,000. Cohen Klingenstein LLC boosted its position 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 buying an additional 8,000 shares during the period. World Investment Advisors boosted its position 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 buying an additional 38,583 shares during the period. Moors & Cabot Inc. grew its holdings in ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock worth $6,990,000 after acquiring an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after acquiring an additional 2,064,440 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $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. In the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company's stock.

ServiceNow Stock Performance

Shares of NOW opened at $112.45 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. The firm's fifty day simple moving average is $99.48 and its two-hundred day simple moving average is $122.03. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a market capitalization of $115.94 billion, a P/E ratio of 67.02, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the business earned $0.81 EPS. The firm's revenue was up 22.1% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NOW shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Robert W. Baird decreased their price objective on ServiceNow from $125.00 to $118.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Stifel Nicolaus lowered their target price on ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Bank of America started coverage on ServiceNow in a report on Monday, May 18th. They set a "buy" rating and a $130.00 target price on the stock. Finally, BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price target on the stock in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $141.85.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

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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