UNIVEST FINANCIAL Corp Purchases 7,486 Shares of ServiceNow, Inc. $NOW

UNIVEST FINANCIAL Corp grew its position in ServiceNow, Inc. (NYSE:NOW) by 37.5% during the first quarter, Holdings Channel reports. The institutional investor owned 27,439 shares of the information technology services provider’s stock after acquiring an additional 7,486 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in ServiceNow were worth $2,869,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Covenant Asset Management LLC raised its holdings in shares of ServiceNow by 169.2% during the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after purchasing an additional 13,114 shares during the last quarter. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at about $2,020,992,000. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after buying an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC grew its holdings in ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares during the period. Finally, Moors & Cabot Inc. grew its holdings in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after acquiring an additional 36,274 shares during the period. Institutional investors own 87.18% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’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 transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock traded down $1.03 during trading hours on Friday, hitting $107.81. 11,058,890 shares of the company’s stock were exchanged, compared to its average volume of 20,996,616. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The firm has a market cap of $111.16 billion, a P/E ratio of 64.25, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $102.49 and a two-hundred day moving average of $111.27.

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, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. Sell-side analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America initiated coverage on ServiceNow in a research report on Monday, May 18th. They issued a “buy” rating and a $130.00 price objective on the stock. HSBC cut their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Monday, March 16th. Citigroup raised their price target on shares of ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Evercore lifted their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.47.

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.