Telligent Fund LP Makes New Investment in ServiceNow, Inc. $NOW

Key Points

• Telligent Fund LP opened a new position in ServiceNow during the first quarter, buying 20,000 shares valued at about $2.09 million. The stake now represents roughly 2.2% of the fund’s portfolio.
• Institutional ownership remains heavy, with 87.18% of ServiceNow shares held by hedge funds and other institutional investors. Several smaller investors also sharply increased their positions in the company last quarter.
• ServiceNow insiders sold shares recently, including executives Paul Fipps and Paul Edward Chamberlain, while analysts remain broadly constructive with a Moderate Buy consensus and an average price target of $139.12.

Telligent Fund LP bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,000 shares of the information technology services provider's stock, valued at approximately $2,091,000. ServiceNow comprises about 2.2% of Telligent Fund LP's investment portfolio, making the stock its 18th largest holding.

Other large investors have also made changes to their positions in the company. Millstone Evans Group LLC lifted its position in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 135 shares in the last quarter. Blueline Advisors LLC purchased a new stake in ServiceNow in the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC increased its stake in shares of ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 134 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the business'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 value of $103,238.48. Following the sale, the insider owned 12,072 shares of the company's stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 over the last quarter. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. KeyCorp reissued an "underweight" rating on shares of ServiceNow in a research report on Tuesday. Stifel Nicolaus cut their price objective on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. BTIG Research restated a "buy" rating and set a $150.00 price objective on shares of ServiceNow in a research report on Monday, June 29th. Citic Securities reduced their target price on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Finally, TD Cowen reiterated a "buy" rating and issued a $140.00 target price on shares of ServiceNow in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $139.12.

ServiceNow Trading Down 2.5%

Shares of NOW stock opened at $102.04 on Wednesday. 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 firm has a market cap of $105.20 billion, a PE ratio of 60.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. The company has a 50-day moving average of $104.50 and a two-hundred day moving average of $108.56. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business's revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, analysts predict that ServiceNow, Inc. will post 2.33 EPS for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jefferies expects ServiceNow to deliver solid second-quarter results, with subscription revenue and cRPO likely coming in above guidance. The firm also sees a possible raise to full-year subscription revenue guidance, supported by strong execution, early contract renewals, and AI-related demand. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 and kept an overweight rating, signaling confidence in upside if earnings and guidance remain strong. Article Title
• Positive Sentiment: Morgan Stanley said software sentiment has become “too negative” and named top picks in the sector, reinforcing the idea that high-quality software names like ServiceNow could rebound if the market mood improves. Article Title
• Neutral Sentiment: ServiceNow is in the spotlight ahead of earnings, with mixed analyst views and a bearish technical setup adding uncertainty into the report. Article Title
• Neutral Sentiment: ServiceNow is expected to report after the market close on July 22, and several articles frame the stock as a high-stakes earnings setup rather than a clear fundamental change. Article Title
• Negative Sentiment: CLSA initiated coverage with a bearish view, which has added pressure ahead of earnings and contributed to cautious investor sentiment around the name. Article Title
• Negative Sentiment: A separate security report said a critical ServiceNow code-execution flaw is being exploited in attacks, which could create near-term reputational and security concerns for the company. Article Title

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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