60,000 Shares in ServiceNow, Inc. $NOW Bought by General American Investors Co. Inc.

General American Investors Co. Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 60,000 shares of the information technology services provider’s stock, valued at approximately $6,273,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI increased its stake in shares of ServiceNow by 25.8% during the first quarter. Citizens Financial Group Inc. RI now owns 91,810 shares of the information technology services provider’s stock worth $9,599,000 after purchasing an additional 18,838 shares in the last quarter. Fifth Third Bancorp lifted its stake in ServiceNow by 49.0% in the 1st quarter. Fifth Third Bancorp now owns 705,345 shares of the information technology services provider’s stock valued at $73,744,000 after buying an additional 231,933 shares in the last quarter. Sovran Advisors LLC lifted its stake in ServiceNow by 19.9% in the 1st quarter. Sovran Advisors LLC now owns 10,923 shares of the information technology services provider’s stock valued at $1,142,000 after buying an additional 1,811 shares in the last quarter. Darwin Wealth Management LLC boosted its holdings in ServiceNow by 86.9% in the 1st quarter. Darwin Wealth Management LLC now owns 2,345 shares of the information technology services provider’s stock worth $245,000 after buying an additional 1,090 shares during the last quarter. Finally, Torray Investment Partners LLC increased its stake in ServiceNow by 35.0% during the 1st quarter. Torray Investment Partners LLC now owns 54,854 shares of the information technology services provider’s stock worth $5,735,000 after buying an additional 14,225 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. Citizens Jmp reaffirmed a “market outperform” rating and issued a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. TD Cowen reaffirmed a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 target price on shares of ServiceNow in a report on Thursday, April 23rd. Benchmark increased their target price on shares of ServiceNow from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, HSBC decreased their price target on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $141.47.

ServiceNow Trading Down 0.9%

Shares of NOW traded down $1.03 during midday trading on Friday, reaching $107.81. The company had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20. 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 firm has a 50 day simple moving average of $102.49 and a 200-day simple moving average of $111.27. The stock has a market cap of $111.16 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. Research analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 8,927 shares of the 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 sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

Key ServiceNow News

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?

About ServiceNow

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.