Element Capital Management LLC Makes New $977,000 Investment in ServiceNow, Inc. $NOW

Element Capital Management LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,380 shares of the information technology services provider’s stock, valued at approximately $977,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. IAG Wealth Partners LLC raised its holdings in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in ServiceNow in the third quarter worth about $29,000. Texas Capital Bancshares Inc TX bought a new stake in ServiceNow during the 3rd quarter valued at approximately $37,000. Ameriflex Group Inc. boosted its position in ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors purchased a new position in shares of ServiceNow during the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

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 value of $799,859.20. Following the completion of the transaction, the insider 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,071 shares of company stock valued at $2,529,956 over the last quarter. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $95.20 on Thursday. The company has a market capitalization of $98.15 billion, a PE ratio of 56.73, a PEG ratio of 1.67 and a beta of 0.94. The business has a fifty day moving average price of $99.69 and a 200-day moving average price of $118.44. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. 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 (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: The Hackett Group joined the ServiceNow Partner Program to help enterprises speed up ROI-driven AI transformation using Hackett AI XPLR and the ServiceNow AI Platform, which could support future platform adoption and consulting-driven growth. The Hackett Group® Partners with ServiceNow to Help Enterprises Accelerate ROI-based AI Transformation
• Positive Sentiment: ServiceNow’s expanded partnership with Wipro to deploy agentic AI workflows at scale suggests continued momentum in enterprise AI adoption, which investors may view as a driver of longer-term revenue growth. ServiceNow (NOW): A Wipro Partnership to Close the Gap Between AI Pilots and Full Enterprise Deployment
• Positive Sentiment: A recent collaboration with Cognizant on AI governance also reinforces ServiceNow’s positioning as an enterprise AI workflow and compliance platform, a theme that has supported the stock’s recent recovery attempts. ServiceNow Inc (NOW) Teams Up With Cognizant on AI Governance
• Neutral Sentiment: Commentary from an investor letter noted that ServiceNow has benefited from growing adoption of AI-native solutions, but this is more of a broader thesis update than a new catalyst. ServiceNow (NOW) Slid Amid Growing Adoption of AI-Native Solutions
• Negative Sentiment: A report claiming a ServiceNow security breach exposed enterprise customer data could weigh on investor confidence if the issue proves credible, since trust and security are key to the company’s enterprise software business. ServiceNow Security Breach Exposes Enterprise Customer Data

Wall Street Analyst Weigh In

A number of research firms have recently commented on NOW. DA Davidson restated a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Citic Securities decreased their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Raymond James Financial lowered their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. Finally, BTIG Research reiterated a “buy” rating and issued a $150.00 price target on shares of ServiceNow in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.17.

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.