Thornburg Investment Management Inc. Buys 23,868 Shares of ServiceNow, Inc. $NOW

Thornburg Investment Management Inc. raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,835 shares of the information technology services provider's stock after purchasing an additional 23,868 shares during the period. Thornburg Investment Management Inc.'s holdings in ServiceNow were worth $4,570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NOW. IAG Wealth Partners LLC boosted its holdings in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC boosted its holdings in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC boosted its holdings in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC boosted 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 purchasing an additional 135 shares during the period. Finally, Blueline Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at $25,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In other 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 over the last ninety days. Company insiders own 0.34% of the company's stock.

ServiceNow News Roundup

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NOW. Wall Street Zen downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Barclays reaffirmed 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. BMO Capital Markets reduced their price objective on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Finally, KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the stock an "underweight" rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $142.17.

ServiceNow Trading Up 2.1%

NOW opened at $104.26 on Tuesday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The stock has a market capitalization of $107.50 billion, a PE ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. 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 firm has a 50-day moving average price of $99.85 and a two-hundred day moving average price of $119.31.

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. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the business earned $0.81 earnings per share. ServiceNow's quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

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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