PFG Investments LLC Grows Position in ServiceNow, Inc. $NOW

PFG Investments LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 71.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 14,858 shares of the information technology services provider’s stock after acquiring an additional 6,174 shares during the quarter. PFG Investments LLC’s holdings in ServiceNow were worth $1,553,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Florida Financial Advisors LLC raised its holdings in ServiceNow by 5.4% in the second 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 period. First Affirmative Financial Network lifted its position 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 valued at $821,000 after buying an additional 15 shares in the last quarter. Nicolet Advisory Services LLC grew its stake 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 buying an additional 16 shares during the period. Perennial Investment Advisors LLC grew its stake in ServiceNow by 6.7% during the third quarter. Perennial Investment Advisors LLC now owns 270 shares of the information technology services provider’s stock worth $248,000 after buying an additional 17 shares during the period. Finally, Opes Wealth Management LLC increased its position in shares of ServiceNow by 3.5% in the third quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock worth $467,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW opened at $106.06 on Monday. The firm has a market cap of $109.34 billion, a price-to-earnings ratio of 63.20, a PEG ratio of 1.77 and a beta of 0.96. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $100.53 and its two-hundred day moving average is $112.60. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird cut their target price on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Mizuho lowered their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Guggenheim raised ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Wednesday. Finally, Citizens Jmp restated a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.68.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy, saying AI fears have been overdone and that the stock offers meaningful upside from current levels. ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Other commentary framed ServiceNow as a “golden opportunity” for patient investors, reinforcing the view that the recent selloff may be excessive relative to its growth outlook. ServiceNow (NOW): A Golden Opportunity for Patient Investors
• Positive Sentiment: Analysts and investors continue to highlight demand for ServiceNow’s AI Control Tower and AI-enabled workflow tools, which supports the company’s long-term growth narrative. ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: Several articles discuss ServiceNow’s premium valuation, which may limit near-term upside even as growth remains solid. Does Guggenheim’s Upgrade Reframe ServiceNow (NOW) as an AI Workflow Enabler Rather Than a Disruption Risk?
• Negative Sentiment: Some reports still point to concerns about AI disruption, delayed large deal closures, acquisition-related margin pressure, and overall valuation risk, which could temper enthusiasm. ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the firm’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 completion of the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last three months. 0.34% of the stock is owned by company insiders.

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.