Walter Public Investments Inc. Has $7.82 Million Holdings in ServiceNow, Inc. $NOW

Key Points

• Walter Public Investments Inc. boosted its ServiceNow stake by 185.7% in the fourth quarter, ending with 51,064 shares valued at about $7.82 million.
• Institutional interest in ServiceNow remains very strong, with firms like Vanguard and Geode making large additions; overall, 87.18% of the stock is held by institutional investors and hedge funds.
• ServiceNow is getting a bullish boost from AI-related optimism and a software-sector rebound, while its latest quarter showed 22.1% revenue growth and earnings that matched analyst expectations.

Walter Public Investments Inc. grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 185.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,064 shares of the information technology services provider's stock after purchasing an additional 33,189 shares during the period. Walter Public Investments Inc.'s holdings in ServiceNow were worth $7,822,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. Geode Capital Management LLC increased its position in 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 worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Norges Bank acquired a new position in ServiceNow in the 4th quarter worth about $2,020,992,000. State Street Corp increased its position in 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 worth $8,700,970,000 after purchasing an additional 131,080 shares during the last quarter. Finally, Jennison Associates LLC increased its position in ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

ServiceNow Price Performance

Shares of NYSE:NOW opened at $124.56 on Friday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The firm has a market capitalization of $128.42 billion, a PE ratio of 74.23, a PEG ratio of 2.06 and a beta of 0.82. The business's 50 day moving average is $98.05 and its 200-day moving average is $123.74. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting 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 last year, the firm earned $0.81 EPS. ServiceNow's revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,048 shares of the firm'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 completion of the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 firm'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 owned 29,531 shares of the company's stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock worth $2,529,956 over the last 90 days. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a research 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. Capital One Financial increased their price objective on ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $236.00 target price (up from $226.00) on shares of ServiceNow in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

About ServiceNow

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.