ServiceNow, Inc. $NOW Shares Purchased by Titan Global Capital Management USA LLC

Key Points

• Titan Global Capital Management USA LLC increased its ServiceNow stake by 396.9% in the fourth quarter, buying 82,759 additional shares and bringing its total to 103,608 shares worth about $15.9 million.
• Institutional interest in ServiceNow remains very high, with hedge funds and other institutions owning 87.18% of the company’s stock. Several large investors, including Vanguard and Geode Capital Management, also substantially boosted their positions.
• Wall Street sentiment is still broadly positive, with ServiceNow carrying a Moderate Buy consensus rating and a consensus price target of $141.85, even as some analysts lowered their individual targets.

Titan Global Capital Management USA LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 396.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,608 shares of the information technology services provider's stock after purchasing an additional 82,759 shares during the period. ServiceNow makes up 2.3% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 19th largest holding. Titan Global Capital Management USA LLC's holdings in ServiceNow were worth $15,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock valued at $3,591,425,000 after buying an additional 18,854,775 shares during the last quarter. Norges Bank acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $2,020,992,000. State Street Corp raised its position in shares of ServiceNow by 1.4% in the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock valued at $8,700,970,000 after buying an additional 131,080 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after buying an additional 6,213,762 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $115.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. HSBC cut their price objective on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Argus cut their price objective on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada restated an "outperform" rating and issued a $121.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

ServiceNow Price Performance

NOW opened at $124.56 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a 50 day moving average of $98.05 and a two-hundred day moving average of $123.74. The company has a market cap of $128.42 billion, a P/E ratio of 74.23, a P/E/G ratio of 2.06 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 in the previous year, the firm earned $0.81 earnings per share. ServiceNow's revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 2.36 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction that occurred 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 in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This represents 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. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

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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