Navalign LLC Buys 11,650 Shares of ServiceNow, Inc. $NOW

Navalign LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16,642.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,720 shares of the information technology services provider’s stock after buying an additional 11,650 shares during the quarter. Navalign LLC’s holdings in ServiceNow were worth $1,225,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOW. Florida Financial Advisors LLC boosted its holdings 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 buying an additional 14 shares during the last quarter. First Affirmative Financial Network increased its holdings in ServiceNow by 1.7% during the third quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after buying an additional 15 shares during the last quarter. Nicolet Advisory Services LLC raised its position in ServiceNow by 1.1% during the third 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 in the last quarter. Opes Wealth Management LLC lifted its stake in ServiceNow by 3.5% in the third quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock valued at $467,000 after acquiring an additional 17 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its stake in ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Shares are benefiting from a broader rotation into software stocks as money moves out of semiconductors and into names that have lagged. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Positive Sentiment: Traders are reacting to AI-related product momentum and a more constructive analyst tone after Guggenheim pushed back on bearish “software extinction” arguments. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: New AI partnerships with defense and state agencies suggest ServiceNow’s platform is expanding beyond traditional workflow automation into mission-critical public sector use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Analysts and commentators are increasingly arguing that fears AI would disrupt ServiceNow’s software model may be overdone, which is improving the stock’s valuation narrative. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Neutral Sentiment: Recent coverage noted ServiceNow has outperformed the broader market and continues to attract attention as a possible contrarian software name, but this is more a reflection of momentum than a new fundamental catalyst. ServiceNow (NOW) Outperforms Broader Market: What You Need to Know

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated 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 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 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, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on 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 approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Up 2.4%

Shares of NYSE:NOW opened at $110.57 on Wednesday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The stock has a market cap of $114.00 billion, a PE ratio of 65.90, a P/E/G ratio of 1.80 and a beta of 0.96. The business has a 50 day moving average of $101.40 and a 200-day moving average of $111.94. 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 earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BTIG Research reissued a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Barclays reiterated an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Monday, March 16th. Finally, Truist Financial cut 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. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.68.

ServiceNow Company Profile

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.