Northeast Investment Management Lowers Holdings in ServiceNow, Inc. $NOW

Northeast Investment Management lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 75.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,205 shares of the information technology services provider’s stock after selling 86,556 shares during the quarter. Northeast Investment Management’s holdings in ServiceNow were worth $2,949,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. Meridian Wealth Advisors LLC raised its stake in shares of ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after buying an additional 12 shares in the last quarter. Catalyst Financial Partners LLC boosted 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 valued at $1,169,000 after buying an additional 13 shares in the last quarter. JT Stratford LLC boosted 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 valued at $354,000 after buying an additional 13 shares in the last quarter. Florida Financial Advisors LLC boosted its stake in shares of ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after buying an additional 14 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its holdings in ServiceNow by 6.7% during the third quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock worth $205,000 after acquiring an additional 14 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was highlighted in a bullish article arguing that the company is executing well operationally and that its stock may be trading at a discount, which could support a re-rating if investors regain confidence. ServiceNow: An Excellent Business Trading at a Discount
• Positive Sentiment: Several articles pointed to expanding AI-related partnerships and governance use cases, including integrations with HCLTech, Google Cloud, and Microsoft-adjacent enterprise workflows, reinforcing ServiceNow’s position in enterprise AI automation. HCLTech Deepens Google Cloud–ServiceNow Alliance to Scale Enterprise AI Agents
• Positive Sentiment: New partnerships around AI governance and public sector modernization suggest ServiceNow is still broadening its addressable market and deepening product relevance in regulated enterprise environments. ServiceNow (NOW) Expands AI Governance And Public Sector Reach With New Partnerships
• Neutral Sentiment: A comparison piece on Salesforce and ServiceNow noted that ServiceNow continues to post steadier revenue gains, but the article was more informational than a direct catalyst for the stock. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?
• Negative Sentiment: Recent market coverage noted that ServiceNow has been slipping alongside a broader tech pullback, and some commentary specifically linked the weakness to investor concerns about AI-related expectations and valuation. ServiceNow (NOW) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: The stock has also been described as falling despite strong earnings, indicating that investors may be focusing more on macro pressure and sentiment than on the company’s fundamentals. AI Concerns Hurt ServiceNow (NOW) Despite Strong Earnings

ServiceNow Trading Down 4.5%

ServiceNow stock opened at $89.59 on Friday. The stock has a market cap of $92.37 billion, a PE ratio of 53.39, a P/E/G ratio of 1.56 and a beta of 0.94. The stock has a 50-day moving average price of $100.01 and a 200 day moving average price of $115.39. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week 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.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share 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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider 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 SEC filing for this sale provides additional information. 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. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. 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. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Morgan Stanley cut their price target on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. BTIG Research reiterated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. Finally, BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.17.

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.