Soltis Investment Advisors LLC Raises Stake in ServiceNow, Inc. $NOW

Key Points

• Soltis Investment Advisors dramatically increased its ServiceNow stake by 6,023.5% in the fourth quarter, ending with 46,294 shares valued at about $7.1 million.
• Other large institutional investors also boosted holdings, with Vanguard, Jennison Associates, and others making major additions; overall, institutions own 87.18% of ServiceNow’s stock.
• ServiceNow reported strong quarterly results with 22.1% revenue growth and EPS in line with expectations, while analysts still maintain a Moderate Buy consensus despite recent stock pressure and lower price targets.

Soltis Investment Advisors LLC grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6,023.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,294 shares of the information technology services provider's stock after acquiring an additional 45,538 shares during the period. Soltis Investment Advisors LLC's holdings in ServiceNow were worth $7,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares in the last quarter. State Street Corp boosted its holdings 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 acquiring an additional 131,080 shares in the last quarter. Jennison Associates LLC boosted its holdings 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 acquiring an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after acquiring an additional 3,743,087 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of ServiceNow by 613.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after acquiring an additional 3,301,962 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow's Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

ServiceNow Stock Performance

Shares of NOW opened at $95.15 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 stock has a market cap of $98.10 billion, a P/E ratio of 56.71, a PEG ratio of 1.68 and a beta of 0.82. The company has a 50-day moving average of $100.52 and a two-hundred day moving average of $129.07. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion during 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%. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOW. The Goldman Sachs Group decreased their price objective on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $115.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Argus decreased their price objective on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, April 24th. Canaccord Genuity Group decreased their price objective on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Finally, Barclays reissued an "overweight" rating and set a $134.00 price objective (up from $132.00) 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 given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.71.

Insider Buying and Selling

In other news, insider Paul Fipps sold 9,641 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the transaction, the insider owned 11,757 shares of the company's stock, valued at $1,245,419.01. The trade was a 45.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the business'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 completion of the transaction, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,415 shares of company stock valued at $2,210,933. Company insiders own 0.34% of the company's stock.

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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