SFE Investment Counsel Purchases New Holdings in ServiceNow, Inc. $NOW

Key Points

• SFE Investment Counsel opened a new position in ServiceNow during the first quarter, buying 26,901 shares valued at about $2.81 million.
• Institutional ownership remains very high, with hedge funds and other institutions owning 87.18% of the company’s stock. Several smaller firms also added modestly to their NOW holdings recently.
• Analysts remain mostly constructive on ServiceNow, with a Moderate Buy consensus and an average price target of $141.47, even as some insiders sold shares in recent months.

SFE Investment Counsel purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,901 shares of the information technology services provider's stock, valued at approximately $2,812,000.

Several other institutional investors have also recently made changes to their positions in NOW. Florida Financial Advisors LLC increased its holdings in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after buying an additional 14 shares during the last quarter. First Affirmative Financial Network grew its position in shares of ServiceNow by 1.7% in the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider's stock valued at $821,000 after acquiring an additional 15 shares during the period. Nicolet Advisory Services LLC increased its stake in shares of ServiceNow by 1.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider's stock worth $1,322,000 after purchasing an additional 16 shares during the last quarter. Opes Wealth Management LLC increased its stake in shares of ServiceNow by 3.5% during the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider's stock worth $467,000 after purchasing an additional 17 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its holdings in shares of ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock valued at $473,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on NOW. Royal Bank Of Canada reiterated an "outperform" rating and set a $121.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Benchmark raised their price objective on ServiceNow from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Weiss Ratings downgraded ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, April 21st. Stifel Nicolaus dropped their price target on ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Finally, Evercore raised their price target on ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.47.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is owned by insiders.

ServiceNow Stock Performance

NYSE:NOW traded down $1.03 during mid-day trading on Friday, hitting $107.81. 11,058,890 shares of the stock were exchanged, compared to its average volume of 20,996,616. The firm's 50-day simple moving average is $102.49 and its 200 day simple moving average is $111.27. The stock has a market capitalization of $111.16 billion, a price-to-earnings ratio of 64.25, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the business earned $0.81 EPS. The company's quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What's Going On?

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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