Simmons Bank Has $2.24 Million Position in ServiceNow, Inc. $NOW

Key Points

• Simmons Bank increased its ServiceNow stake by 378.7% in the fourth quarter, ending with 14,595 shares valued at about $2.24 million.
• ServiceNow reported Q1 earnings of $0.97 per share, matching estimates, on $3.77 billion in revenue, which slightly topped forecasts and was up 22.1% year over year.
• Analysts remain generally upbeat despite recent weakness in the stock, with an average rating of “Moderate Buy” and an average price target of about $144.71.

Simmons Bank raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 378.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,595 shares of the information technology services provider's stock after buying an additional 11,546 shares during the quarter. Simmons Bank's holdings in ServiceNow were worth $2,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Brighton Jones LLC grew its holdings in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after buying an additional 34 shares in the last quarter. United Bank grew its holdings in ServiceNow by 15.5% in the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after buying an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in ServiceNow by 2.2% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after buying an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC grew its holdings in ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after buying an additional 609 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NOW opened at $90.56 on Friday. The firm has a market cap of $93.37 billion, a P/E ratio of 53.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.82. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business's fifty day moving average is $100.89 and its 200-day moving average is $129.31.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results 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. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares in the company, valued at $820,367.97. This represents a 31.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction 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 sale, the insider owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This represents 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 22,415 shares of company stock valued at $2,210,933. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NOW shares. UBS Group set a $150.00 price objective on ServiceNow in a report on Thursday, April 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $236.00 price objective (up from $226.00) on shares of ServiceNow in a report on Wednesday, May 6th. Piper Sandler decreased their price objective on ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Benchmark assumed coverage on ServiceNow in a report on Wednesday, April 1st. They issued a "buy" rating and a $125.00 price objective on the stock. Finally, Citizens Jmp reissued a "market outperform" rating and set a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $144.71.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi to improve real-time data activation across enterprise systems, strengthening its positioning as a platform for agentic AI and workflow automation. ServiceNow and Boomi partner for data activation
• Positive Sentiment: FedEx is deepening its ServiceNow relationship with a procurement integration, a sign that major enterprise customers are broadening use of the platform and could drive more recurring revenue. FedEx advances ServiceNow partnership with procurement integration
• Positive Sentiment: ServiceNow and Accenture launched an engineering program to scale agentic AI for enterprise clients, which supports the company’s AI growth narrative and suggests more commercialization of its platform. ServiceNow (NOW), Accenture Launch Engineering Program to Scale Agentic AI for Enterprises
• Positive Sentiment: Several articles highlighted ServiceNow as an attractive AI/software name, with commentary suggesting the recent sell-off may be overdone and that investors are focusing on the stock’s long-term AI upside. 1 Incredible Artificial Intelligence (AI) Stock to Buy After Its Post-Earnings Sell-Off
• Neutral Sentiment: Analyst and media coverage remains mixed but generally constructive, with pieces debating whether the market is underestimating the impact of AI on ServiceNow’s business. ServiceNow: The Market Is Misunderstanding The Effects Of AI
• Negative Sentiment: A bearish options trade and commentary about further downside show that some traders still expect weakness, reflecting lingering pressure on the stock after its post-earnings decline. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
• Negative Sentiment: An insider sale by Paul Fipps was disclosed, which can add to short-term caution even though it was small and made under a pre-arranged trading plan. SEC insider filing for Paul Fipps

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.