Sienna Gestion Purchases 30,600 Shares of ServiceNow, Inc. $NOW

Key Points

• Sienna Gestion increased its ServiceNow stake by 400% in the fourth quarter, buying 30,600 additional shares and bringing its total holding to 38,250 shares worth about $5.87 million.
• Several other institutional investors also boosted positions, and overall institutional ownership in ServiceNow remains high at 87.18%.
• ServiceNow reported quarterly EPS of $0.97, matching estimates, while revenue of $3.77 billion slightly beat expectations and rose 22.1% year over year.

Sienna Gestion boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 38,250 shares of the information technology services provider's stock after purchasing an additional 30,600 shares during the period. Sienna Gestion's holdings in ServiceNow were worth $5,870,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Silvant Capital Management LLC grew its position in ServiceNow by 403.6% in the 4th quarter. Silvant Capital Management LLC now owns 10,526 shares of the information technology services provider's stock worth $1,612,000 after purchasing an additional 8,436 shares in the last quarter. Thornburg Investment Management Inc. grew its position in ServiceNow by 400.0% in the 4th quarter. Thornburg Investment Management Inc. now owns 29,835 shares of the information technology services provider's stock worth $4,570,000 after purchasing an additional 23,868 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in ServiceNow by 450.6% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 4,790 shares of the information technology services provider's stock worth $734,000 after purchasing an additional 3,920 shares in the last quarter. Truvestments Capital LLC grew its position in ServiceNow by 529.5% in the 4th quarter. Truvestments Capital LLC now owns 705 shares of the information technology services provider's stock worth $108,000 after purchasing an additional 593 shares in the last quarter. Finally, TritonPoint Partners LLC bought a new stake in ServiceNow in the 4th quarter worth about $442,000. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company'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 sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Up 2.1%

NOW opened at $104.26 on Tuesday. The stock has a market cap of $107.50 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $99.85 and its two-hundred day moving average price is $119.31. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow's revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NOW shares. JPMorgan Chase & Co. reduced their price objective on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Robert W. Baird dropped their target price on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $236.00 target price (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Finally, BNP Paribas Exane upgraded shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price on the stock in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.17.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and kept a Buy rating, signaling confidence that the stock has meaningful upside from current levels.
• Positive Sentiment: Another report noted ServiceNow has an average analyst recommendation of Moderate Buy, reinforcing a broadly constructive Wall Street view of the company.
• Positive Sentiment: IBM’s expanded ServiceNow partnership was highlighted as a way to accelerate enterprise AI adoption, which could bolster ServiceNow’s platform relevance and long-term growth narrative. Can IBM's Extended ServiceNow Deal Accelerate Enterprise AI Adoption?
• Neutral Sentiment: ServiceNow was described as a candidate to benefit from AI-driven workflow automation, but the commentary was more of a business thesis than a concrete catalyst. ServiceNow: A 7.0 Score in a Shifting AI Landscape
• Neutral Sentiment: ServiceNow outperformed the broader market in the latest session, but the move appeared tied to general momentum and analyst sentiment rather than a major company-specific announcement. ServiceNow (NOW) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Multiple articles compared ServiceNow with Salesforce and said CRM currently has the edge thanks to stronger Agentforce momentum, rising earnings estimates, and a lower valuation, which may pressure NOW’s relative appeal. ServiceNow vs. Salesforce: Which Cloud Software Stock Has an Edge Now?
• Negative Sentiment: A broader software-industry note said SaaS stocks have been under pressure over the past six months, a backdrop that can weigh on ServiceNow’s valuation even when company-specific news is positive. 1 Software Stock with Exciting Potential and 2 Facing Headwinds

ServiceNow Company 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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