Strategic Advocates LLC Has $2.45 Million Stake in ServiceNow, Inc. $NOW

Key Points

• Strategic Advocates LLC boosted its ServiceNow stake by 453.5% in the fourth quarter, ending with 15,864 shares worth about $2.45 million.
• Institutional ownership of ServiceNow remains very high at 87.18%, with several large investors like Vanguard and Geode also sharply increasing their positions.
• Despite strong quarterly revenue growth of 22.1% and earnings that matched estimates, ServiceNow shares were down about 6.5% and analysts currently have a consensus Moderate Buy rating with an average price target of $141.85.

Strategic Advocates LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 453.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,864 shares of the information technology services provider's stock after buying an additional 12,998 shares during the period. ServiceNow comprises about 0.6% of Strategic Advocates LLC's portfolio, making the stock its 27th biggest position. Strategic Advocates LLC's holdings in ServiceNow were worth $2,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of ServiceNow by 404.5% in the 4th 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 buying an additional 81,752,460 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ServiceNow by 404.8% in the 4th 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 bought a new stake in shares of ServiceNow in the 4th quarter valued at about $2,020,992,000. Capital International Investors grew its position in shares of ServiceNow by 396.0% in the 4th quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider's stock valued at $1,592,310,000 after buying an additional 8,297,818 shares during the last quarter. Finally, State Street Corp grew its position in shares of ServiceNow by 1.4% in the 3rd 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. Institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In related news, insider Paul Fipps sold 1,048 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider directly owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is currently owned by company insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Industry commentary from Thoma Bravo’s Orlando Bravo said fears of an AI-driven “SaaSpocalypse” are fading, calling AI an “enormous tailwind” for software companies. "SaaSpocalypse is over," Thoma Bravo founder says
• Positive Sentiment: ServiceNow continues to see ecosystem support, including a new NICE AI-first integration designed to unify customer engagement and enterprise workflows, which reinforces demand for its platform. NICE Launches AI-First ServiceNow Integration to Unify Customer Engagement and Enterprise Workflows
• Neutral Sentiment: Several market-watch articles are comparing NOW with peer ExlService Holdings on valuation, suggesting investors are still debating whether ServiceNow’s recent pullback makes the stock attractive. EXLS vs. NOW: Which Stock Is the Better Value Option?
• Neutral Sentiment: Recent articles also frame the stock as part of a broader risk-off move in software and technology, with the Nasdaq weakening and high-multiple names coming under pressure. Nasdaq Slides as Chip Stocks Reverse Course
• Negative Sentiment: Benzinga reported that ServiceNow shares are sliding as investors turn defensive and reassess the recent rebound in enterprise software, adding to short-term selling pressure. ServiceNow Shares Are Sliding Tuesday: What's Going On?

ServiceNow Stock Down 6.5%

Shares of ServiceNow stock opened at $106.80 on Wednesday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock's 50-day moving average is $99.84 and its 200 day moving average is $120.97. The firm has a market cap of $110.11 billion, a price-to-earnings ratio of 63.65, a PEG ratio of 1.89 and a beta of 0.94.

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

Analysts Set New Price Targets

NOW has been the topic of a number of analyst reports. Sanford C. Bernstein reiterated an "outperform" rating and issued a $236.00 price target (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. TD Cowen reiterated a "buy" rating and issued a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. BTIG Research reiterated a "buy" rating and issued a $150.00 price target on shares of ServiceNow in a research report on Monday, May 4th. Wolfe Research set a $125.00 price target on ServiceNow in a research report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.85.

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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