Waterfront Wealth Inc. Makes New Investment in ServiceNow, Inc. $NOW

Waterfront Wealth Inc. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,657 shares of the information technology services provider’s stock, valued at approximately $1,219,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Florida Financial Advisors LLC lifted its holdings in 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 grew its holdings in shares of ServiceNow by 1.7% during the third 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 raised its position in shares of ServiceNow by 1.1% in the third quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock valued at $1,322,000 after buying an additional 16 shares during the last quarter. Opes Wealth Management LLC raised 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 valued at $467,000 after buying an additional 17 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its stake in shares of 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 worth $473,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho lowered their price target on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Benchmark boosted their target price on ServiceNow from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 15th. TD Cowen restated a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $141.47.

ServiceNow Trading Down 0.9%

NYSE:NOW traded down $1.03 on Friday, hitting $107.81. The stock had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. 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 stock has a market cap of $111.16 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 1.81 and a beta of 0.96. The company has a fifty day moving average price of $102.49 and a two-hundred day moving average price of $111.27. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during 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%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. Equities research analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were 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 of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Trending Headlines about ServiceNow

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 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.