Private Wealth Partners LLC Takes Position in ServiceNow, Inc. $NOW

Private Wealth Partners LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,835 shares of the information technology services provider’s stock, valued at approximately $505,000.

Several other hedge funds have also recently bought and sold shares of the company. Florida Financial Advisors LLC grew its position in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after acquiring an additional 14 shares in the last quarter. First Affirmative Financial Network lifted its position in shares of ServiceNow by 1.7% during the third quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after purchasing an additional 15 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in shares of ServiceNow by 1.1% during the third quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock worth $1,322,000 after purchasing an additional 16 shares in the last quarter. Perennial Investment Advisors LLC boosted its stake in shares of ServiceNow by 6.7% in the third quarter. Perennial Investment Advisors LLC now owns 270 shares of the information technology services provider’s stock valued at $248,000 after purchasing an additional 17 shares during the period. Finally, Opes Wealth Management LLC boosted its stake in shares of ServiceNow by 3.5% in the third quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock valued at $467,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy, saying AI fears have been overdone and that the stock offers meaningful upside from current levels. ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Other commentary framed ServiceNow as a “golden opportunity” for patient investors, reinforcing the view that the recent selloff may be excessive relative to its growth outlook. ServiceNow (NOW): A Golden Opportunity for Patient Investors
• Positive Sentiment: Analysts and investors continue to highlight demand for ServiceNow’s AI Control Tower and AI-enabled workflow tools, which supports the company’s long-term growth narrative. ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: Several articles discuss ServiceNow’s premium valuation, which may limit near-term upside even as growth remains solid. Does Guggenheim’s Upgrade Reframe ServiceNow (NOW) as an AI Workflow Enabler Rather Than a Disruption Risk?
• Negative Sentiment: Some reports still point to concerns about AI disruption, delayed large deal closures, acquisition-related margin pressure, and overall valuation risk, which could temper enthusiasm. ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

ServiceNow Stock Down 0.2%

Shares of ServiceNow stock opened at $106.06 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a market capitalization of $109.34 billion, a P/E ratio of 63.20, a P/E/G ratio of 1.77 and a beta of 0.96. The company has a 50 day moving average of $100.53 and a 200 day moving average of $112.88.

ServiceNow (NYSE:NOW) last announced 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 for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, research analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on NOW. Citigroup upped their target price on shares of ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Benchmark raised their price target on shares of ServiceNow from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Weiss Ratings downgraded shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. Citic Securities cut their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.68.

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated 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 sale, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 company’s stock in a transaction dated 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 directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

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.