ServiceNow, Inc. $NOW Stock Holdings Boosted by Redmond Asset Management LLC

Redmond Asset Management LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 379.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,725 shares of the information technology services provider’s stock after acquiring an additional 6,906 shares during the period. Redmond Asset Management LLC’s holdings in ServiceNow were worth $1,337,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew 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 valued at $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. State Street Corp grew 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 valued at $8,700,970,000 after buying an additional 131,080 shares in the last quarter. Jennison Associates LLC grew 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 valued at $1,291,758,000 after buying an additional 6,213,762 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in ServiceNow by 404.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock valued at $1,279,416,000 after buying an additional 6,695,802 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent analyst reports. FBN Securities decreased their target price on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Citic Securities cut their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Wolfe Research set a $125.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Evercore upped their price target on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, KeyCorp set a $85.00 price target on shares of ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $141.85.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $102.15 on Thursday. 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, Inc. has a one year low of $81.24 and a one year high of $211.48. The firm has a market capitalization of $105.31 billion, a PE ratio of 60.87, a P/E/G ratio of 1.65 and a beta of 0.82. The firm has a 50-day moving average of $98.00 and a two-hundred day moving average of $124.18.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting 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 during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reiterated ServiceNow as a top buy, saying AI is a growth engine for the company and highlighting it as better positioned than Salesforce. This kind of analyst support can lift investor sentiment. Article Title
• Positive Sentiment: A new Zacks article and broader market buzz show ServiceNow is trending with investors, suggesting renewed interest in the stock after recent weakness. Article Title
• Neutral Sentiment: ServiceNow presented at the Jefferies Software, Internet & AI Conference, keeping the company in focus but without any clearly reported new financial catalyst in the transcript headline alone. Article Title
• Neutral Sentiment: Market commentary about institutional order flows and software sector weakness provides broader context, but it is not a direct company-specific driver. Article Title
• Negative Sentiment: Recent coverage also notes that investors remain worried AI could disrupt ServiceNow’s business model, and the stock had already fallen sharply earlier in the week after margin concerns despite a revenue beat. Article Title

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.