ServiceNow, Inc. $NOW Shares Acquired by United Asset Strategies Inc.

United Asset Strategies Inc. grew its stake in ServiceNow, Inc. (NYSE:NOW) by 7.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 126,056 shares of the information technology services provider’s stock after buying an additional 8,484 shares during the period. United Asset Strategies Inc.’s holdings in ServiceNow were worth $13,179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Florida Financial Advisors LLC increased its position in shares of 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 during the period. First Affirmative Financial Network raised its stake in ServiceNow by 1.7% in the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after acquiring an additional 15 shares during the last quarter. Nicolet Advisory Services LLC lifted its position in ServiceNow by 1.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock worth $1,322,000 after acquiring an additional 16 shares during the period. Opes Wealth Management LLC grew its stake in ServiceNow by 3.5% during the 3rd 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 last quarter. Finally, Clark Capital Management Group Inc. grew its stake in ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after purchasing an additional 18 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim’s dismissive take on “software extinction” fears helped ease worries that AI could hurt enterprise software demand, supporting ServiceNow’s recent climb. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: ServiceNow announced additional government and defense AI partnerships, including biosurveillance and health-services modernization projects, reinforcing the company’s AI credibility in mission-critical use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Multiple articles argued that ServiceNow’s numbers continue to show resilience despite AI disruption fears, with commentary suggesting the stock may be undervalued relative to its growth and execution. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Positive Sentiment: Recent coverage also highlighted that analysts still see upside in ServiceNow despite some downgrades, keeping valuation debates in focus but not overturning the bullish long-term thesis. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)

ServiceNow Stock Performance

Shares of NOW traded up $4.41 during mid-day trading on Tuesday, reaching $112.34. The company had a trading volume of 9,095,780 shares, compared to its average volume of 23,972,527. The stock has a market capitalization of $115.82 billion, a P/E ratio of 67.00, a PEG ratio of 1.77 and a beta of 0.96. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. The stock has a 50 day moving average of $100.53 and a two-hundred day moving average of $112.60. 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 (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the business earned $0.81 earnings per share. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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, insider Jacqueline P. Canney sold 8,927 shares of the 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 sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. Morgan Stanley reduced their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $121.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. BMO Capital Markets cut 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. TD Cowen reissued a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Raymond James Financial reduced their price target on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.68.

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.