Jag Capital Management LLC Purchases 18,602 Shares of ServiceNow, Inc. $NOW

Jag Capital Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 397.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,280 shares of the information technology services provider’s stock after buying an additional 18,602 shares during the quarter. Jag Capital Management LLC’s holdings in ServiceNow were worth $3,566,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Berbice Capital Management LLC increased its position in shares of ServiceNow by 394.9% during the 4th quarter. Berbice Capital Management LLC now owns 19,435 shares of the information technology services provider’s stock worth $2,977,000 after purchasing an additional 15,508 shares during the last quarter. Covestor Ltd increased its position in shares of ServiceNow by 474.8% during the 4th quarter. Covestor Ltd now owns 1,552 shares of the information technology services provider’s stock worth $238,000 after purchasing an additional 1,282 shares during the last quarter. Forefront Wealth Partners LLC increased its position in shares of ServiceNow by 409.6% during the 4th quarter. Forefront Wealth Partners LLC now owns 4,255 shares of the information technology services provider’s stock worth $652,000 after purchasing an additional 3,420 shares during the last quarter. Harvest Portfolios Group Inc. increased its position in shares of ServiceNow by 441.3% during the 4th quarter. Harvest Portfolios Group Inc. now owns 150,332 shares of the information technology services provider’s stock worth $23,029,000 after purchasing an additional 122,562 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $3,925,000. 87.18% of the stock is currently owned by institutional investors.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. Argus lowered their price target on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Evercore boosted their price target on ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. TD Cowen reaffirmed a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $141.89.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 31,767 shares of company stock valued at $2,906,098. 0.34% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $101.71 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. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a 50 day moving average of $99.72 and a 200-day moving average of $127.48. The company has a market capitalization of $104.86 billion, a P/E ratio of 60.61, a P/E/G ratio of 1.76 and a beta of 0.82.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

ServiceNow 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.