World Investment Advisors Increases Stock Position in ServiceNow, Inc. $NOW

Key Points

• World Investment Advisors boosted its ServiceNow stake by 411.7% in the fourth quarter, ending with 47,955 shares valued at about $7.2 million.
• ServiceNow reported Q1 earnings of $0.97 per share, matching estimates, while revenue rose 22.1% year over year to $3.77 billion.
• Analyst sentiment remains broadly positive despite some target cuts, with a consensus rating of Moderate Buy and an average price target of $144.71.

World Investment Advisors increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 411.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,955 shares of the information technology services provider's stock after buying an additional 38,583 shares during the period. World Investment Advisors' holdings in ServiceNow were worth $7,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. IAG Wealth Partners LLC boosted its holdings in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 18 shares during the period. Noble Wealth Management PBC raised its stake in shares of ServiceNow by 400.0% during 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 raised its stake in shares of ServiceNow by 400.0% during 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. Lodestone Wealth Management LLC purchased a new stake in ServiceNow during the 4th quarter worth about $26,000. Finally, Albion Financial Group UT lifted its holdings in ServiceNow by 400.0% during the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW opened at $87.11 on Thursday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. 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 company has a market cap of $89.81 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82. The stock has a 50-day moving average price of $101.35 and a 200-day moving average price of $129.98.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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. The company had revenue of $3.77 billion for 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%. ServiceNow's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on NOW shares. Mizuho reduced their target price on ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. BMO Capital Markets lowered their price target on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. Benchmark started coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They set a "buy" rating and a $125.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $121.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Two 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $144.71.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi and launched the Workflow Data Network Passport Program, which should improve real-time data activation across enterprise systems and strengthen its pitch as an AI “control tower” for large customers. ServiceNow And Boomi Deepen Ties To Power AI Control Tower Ambitions
• Positive Sentiment: ServiceNow was also highlighted in a roundup of top agentic AI stocks, signaling that market watchers continue to see upside in the company’s AI platform positioning. 5 Best Agentic AI Stocks to Buy Right Now
• Positive Sentiment: Analyst and media coverage remains constructive overall, with ServiceNow repeatedly showing up in “buy now” and featured stock lists, which can support sentiment around the name. Is Trending Stock ServiceNow, Inc. (NOW) a Buy Now?
• Neutral Sentiment: A small insider sale by Paul Fipps was disclosed, but it was done under a pre-arranged 10b5-1 plan and is unlikely to be a major trading signal. SEC insider filing for Paul Fipps
• Negative Sentiment: Some investors may also be weighing broader concerns around valuation and financing after reports that ServiceNow plans a large bond sale, which could temper enthusiasm despite the company’s solid operating momentum. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale

Insiders Place Their Bets

In other news, insider Paul Fipps sold 9,641 shares of ServiceNow stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the sale, the insider directly owned 11,757 shares of the company's stock, valued at approximately $1,245,419.01. The trade was a 45.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,815 shares of company stock valued at $2,358,927 in the last quarter. Corporate 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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