Convergence Financial LLC Purchases 9,366 Shares of ServiceNow, Inc. $NOW

Convergence Financial LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 388.0% in the 4th quarter, HoldingsChannel reports. The fund owned 11,780 shares of the information technology services provider’s stock after buying an additional 9,366 shares during the period. Convergence Financial LLC’s holdings in ServiceNow were worth $1,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of ServiceNow during the 4th quarter worth approximately $2,020,992,000. Cohen Klingenstein LLC boosted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after buying an additional 8,000 shares during the last quarter. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after buying an additional 38,583 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after buying an additional 2,064,440 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction 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 transaction, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 1.4%

Shares of NYSE NOW opened at $119.53 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. 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 business’s fifty day moving average price is $99.29 and its 200-day moving average price is $122.10. The stock has a market capitalization of $123.24 billion, a PE ratio of 71.24, a P/E/G ratio of 1.95 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results 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 return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: William Blair reiterated a Buy rating on ServiceNow, citing accelerating AI adoption, a model-agnostic architecture, and a path to $30 billion in revenue by 2030, which supports the stock’s valuation. Article Title
• Positive Sentiment: Analysts and commentary around EmployeeWorks suggest it could become a major growth driver, with rapid traction, larger deals, and broader enterprise AI adoption helping reinforce the bullish long-term thesis for NOW. Article Title
• Positive Sentiment: ServiceNow also announced a $2.5 million grant to City Year to support student success and workforce pathways, while expanding AI-enabled operational innovation—another signal that the company is using its platform to deepen enterprise and social impact. Article Title
• Neutral Sentiment: ServiceNow’s recent conference presentations and valuation-focused coverage kept the company in the spotlight, but these items were mostly reinforcing existing themes rather than introducing major new fundamentals.
• Negative Sentiment: Recent valuation discussion notes that NOW remains well below its highs and still faces questions after a mixed year of share-price performance, which may remind investors that the stock’s strong rally has already priced in a lot of optimism. Article Title

Analyst Ratings Changes

Several research analysts have weighed in on NOW shares. Wolfe Research set a $125.00 price objective on ServiceNow in a research report on Thursday, April 23rd. Wells Fargo & Company cut their price objective on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. BTIG Research reissued a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research report on Monday, May 4th. Argus cut their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, BMO Capital Markets cut their price objective on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.