Callahan Advisors LLC Has $2.98 Million Stock Holdings in ServiceNow, Inc. $NOW

Callahan Advisors LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 398.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,442 shares of the information technology services provider’s stock after buying an additional 15,542 shares during the quarter. Callahan Advisors LLC’s holdings in ServiceNow were worth $2,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cohen Klingenstein LLC raised its position in 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 purchasing an additional 8,000 shares during the last quarter. World Investment Advisors raised its position in 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 purchasing an additional 38,583 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in 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 purchasing an additional 2,064,440 shares during the last quarter. Torray Investment Partners LLC raised its position in ServiceNow by 390.5% in the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider’s stock worth $6,224,000 after purchasing an additional 32,345 shares during the last quarter. Finally, Jennison Associates LLC increased its position in ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 31,767 shares of company stock worth $2,906,098. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $103.13 on Thursday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $106.33 billion, a P/E ratio of 61.46, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The stock’s 50-day moving average price is $99.35 and its two-hundred day moving average price is $126.89.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 EPS. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. BTIG Research reiterated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research report on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Thursday, April 23rd. Truist Financial lowered their price objective on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $121.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Weiss Ratings cut ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $141.89.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating and a $130 target, calling it an AI winner in the emerging agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Several articles said Wall Street is warming to ServiceNow because its workflow software could serve as a control layer for AI agents, easing fears that AI will replace its business. Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Positive Sentiment: Analysts and commentators highlighted that the recent selloff may have been overdone, with ServiceNow’s valuation looking more attractive after a sharp yearlong decline. Assessing ServiceNow (NOW) Valuation After A Year Of Sharp Share Price Declines
• Positive Sentiment: Media and analyst pieces also framed the stock’s rebound as part of a broader rotation back into software names, with ServiceNow singled out as one of the sector leaders. ServiceNow and Snowflake Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Some reports noted that the stock has fallen sharply over the past year despite revenue and profit growth, so investors are still weighing strong fundamentals against a still-extended valuation. After a 50% Drop, Is ServiceNow Stock Worth Buying?
• Negative Sentiment: There are still lingering concerns that AI disruption could pressure traditional enterprise software, and some commentary warned the recent bounce could fade if those fears return. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

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.