Strategic Advocates LLC Purchases 12,998 Shares of ServiceNow, Inc. $NOW

Strategic Advocates LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 453.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,864 shares of the information technology services provider’s stock after buying an additional 12,998 shares during the quarter. ServiceNow accounts for approximately 0.6% of Strategic Advocates LLC’s holdings, making the stock its 27th biggest position. Strategic Advocates LLC’s holdings in ServiceNow were worth $2,447,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Meridian Wealth Advisors LLC lifted its holdings in shares of ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after purchasing an additional 12 shares in the last quarter. Catalyst Financial Partners LLC raised its stake in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after purchasing an additional 13 shares during the last quarter. JT Stratford LLC raised its stake in shares of ServiceNow by 3.5% in the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 13 shares during the last quarter. Abbot Financial Management Inc. raised its stake in shares of ServiceNow by 2.9% in the third quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock worth $462,000 after purchasing an additional 14 shares during the last quarter. Finally, Cozad Asset Management Inc. raised its stake in shares of ServiceNow by 6.7% in the third quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock worth $205,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Industry commentary from Thoma Bravo’s Orlando Bravo said fears of an AI-driven “SaaSpocalypse” are fading, calling AI an “enormous tailwind” for software companies. “SaaSpocalypse is over,” Thoma Bravo founder says
• Positive Sentiment: ServiceNow continues to see ecosystem support, including a new NICE AI-first integration designed to unify customer engagement and enterprise workflows, which reinforces demand for its platform. NICE Launches AI-First ServiceNow Integration to Unify Customer Engagement and Enterprise Workflows
• Neutral Sentiment: Several market-watch articles are comparing NOW with peer ExlService Holdings on valuation, suggesting investors are still debating whether ServiceNow’s recent pullback makes the stock attractive. EXLS vs. NOW: Which Stock Is the Better Value Option?
• Neutral Sentiment: Recent articles also frame the stock as part of a broader risk-off move in software and technology, with the Nasdaq weakening and high-multiple names coming under pressure. Nasdaq Slides as Chip Stocks Reverse Course
• Negative Sentiment: Benzinga reported that ServiceNow shares are sliding as investors turn defensive and reassess the recent rebound in enterprise software, adding to short-term selling pressure. ServiceNow Shares Are Sliding Tuesday: What’s Going On?

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings downgraded ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. BTIG Research reissued a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. 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 note on Thursday, April 23rd. Robert W. Baird lowered their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $141.85.

ServiceNow Stock Performance

Shares of NOW opened at $106.80 on Wednesday. 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 company has a market capitalization of $110.11 billion, a price-to-earnings ratio of 63.65, a PEG ratio of 1.89 and a beta of 0.94. The stock has a 50 day moving average of $99.84 and a 200 day moving average of $120.97. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48.

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. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

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.