Pier 88 Investment Partners LLC Boosts Stock Position in ServiceNow, Inc. $NOW

Pier 88 Investment Partners LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 393.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the information technology services provider’s stock after purchasing an additional 5,740 shares during the period. Pier 88 Investment Partners LLC’s holdings in ServiceNow were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. State Street Corp grew its position in shares of ServiceNow by 1.4% in the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock valued at $8,700,970,000 after purchasing an additional 131,080 shares in the last quarter. Jennison Associates LLC grew its position in shares of 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 valued at $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB grew its position in shares of ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock valued at $720,325,000 after purchasing an additional 3,743,087 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of ServiceNow by 613.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock valued at $588,326,000 after purchasing an additional 3,301,962 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the transaction, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider owned 11,757 shares of the company’s stock, valued at approximately $1,245,419.01. This represents a 45.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 25,164 shares of company stock valued at $2,497,021. Corporate insiders own 0.34% of the company’s stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: FedEx is expanding its partnership with ServiceNow, which suggests continued enterprise demand for ServiceNow’s workflow and automation tools and could strengthen future revenue opportunities. FedEx expands ServiceNow partnership
• Positive Sentiment: Analysts remain constructive on ServiceNow, with BMO Capital reaffirming an Outperform rating and a $115 price target, citing the platform’s defensive positioning around autonomous execution, governance, and context. Why analysts still favor ServiceNow
• Positive Sentiment: ServiceNow is highlighting new AI governance tools through its AI Control Tower and related partnerships, which may appeal to enterprises looking for more control over AI agents and compliance. ServiceNow seeks AI control role as stock struggles and partnerships grow
• Neutral Sentiment: ServiceNow plans to raise $4 billion in a bond sale, which could provide financing flexibility but also adds leverage and is not a direct operating catalyst. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale
• Neutral Sentiment: Recent commentary about the stock “resetting” after a large decline reflects valuation debate rather than a clear new fundamental development. Is ServiceNow resetting after a 52% slide and DCF upside scenario?

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. DA Davidson restated a “buy” rating and issued a $190.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Citizens Jmp restated a “market outperform” rating and issued a $157.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Weiss Ratings lowered ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Wells Fargo & Company lowered their price objective on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Finally, Argus lowered their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.71.

ServiceNow Trading Up 0.4%

Shares of ServiceNow stock opened at $91.51 on Tuesday. The firm has a market capitalization of $94.35 billion, a price-to-earnings ratio of 54.53, a PEG ratio of 1.61 and a beta of 0.82. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day moving average of $102.18 and a 200 day moving average of $131.38.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion during 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 revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

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.