Welch & Forbes LLC Has $29.78 Million Stock Holdings in ServiceNow, Inc. $NOW

Welch & Forbes LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 25.9% during the first quarter, HoldingsChannel.com reports. The fund owned 284,864 shares of the information technology services provider’s stock after buying an additional 58,687 shares during the quarter. Welch & Forbes LLC’s holdings in ServiceNow were worth $29,783,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 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 purchasing an additional 14 shares in the last quarter. First Affirmative Financial Network raised its holdings in shares of ServiceNow by 1.7% during the 3rd 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 in the last quarter. Nicolet Advisory Services LLC lifted its position in shares of ServiceNow by 1.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock worth $1,322,000 after buying an additional 16 shares during the last quarter. Opes Wealth Management LLC lifted its position in shares of ServiceNow by 3.5% during the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock worth $467,000 after buying an additional 17 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted 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 buying an additional 18 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Key ServiceNow News

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?

ServiceNow Trading Down 0.9%

NYSE NOW traded down $1.03 during trading hours on Friday, reaching $107.81. The company’s stock had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. The firm has a fifty day simple moving average of $102.49 and a 200-day simple moving average of $111.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20. The stock 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.

ServiceNow (NYSE:NOW) last posted 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. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. BNP Paribas Exane raised ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Monday, March 16th. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a research report on Monday, June 29th. BMO Capital Markets dropped their price objective on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. BTIG Research restated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research report on Monday, June 29th. Finally, Barclays reaffirmed an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.47.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

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.