Piar LLC grew its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 97.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,210 shares of the information technology services provider’s stock after acquiring an additional 13,450 shares during the quarter. ServiceNow accounts for 2.2% of Piar LLC’s portfolio, making the stock its 17th biggest holding. Piar LLC’s holdings in ServiceNow were worth $2,845,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of NOW. Florida Financial Advisors LLC lifted its position in ServiceNow by 5.4% during the second 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 during the last quarter. Clark Capital Management Group Inc. raised its position in shares of ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 18 shares in the last quarter. American Trust lifted its holdings in shares of ServiceNow by 1.8% in the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after acquiring an additional 18 shares during the last quarter. Morse Asset Management Inc grew its position in ServiceNow by 0.5% in the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after acquiring an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC grew its position in ServiceNow by 3.7% in the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after acquiring an additional 20 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated 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 sale, the insider directly owned 29,531 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% 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. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on ServiceNow
ServiceNow Stock Performance
Shares of NYSE:NOW opened at $104.90 on Tuesday. The firm has a 50 day moving average of $104.24 and a 200 day moving average of $108.92. 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 company has a market capitalization of $108.15 billion, a price-to-earnings ratio of 62.51, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20.
ServiceNow (NYSE:NOW – Get Free Report) 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, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.
Key Headlines Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 from $122 and reiterated an overweight view, signaling confidence that the stock can recover from current levels. Benzinga report
- Positive Sentiment: Analysts and bullish articles argue ServiceNow’s AI strategy is more about execution than disruption, with the company’s workflow platform and recent integration updates with Ciroos and Esri seen as supportive of long-term demand. ServiceNow (NOW) Adds Ciroos And Esri To Bring AI And GIS Into Workflows
- Positive Sentiment: Multiple previews ahead of earnings highlight that ServiceNow’s own numbers have been contradicting the bearish AI narrative, which could help investor sentiment if results hold up. ServiceNow Is Down 51% as Wall Street Bets AI Will Gut Its Business. July 22 Will Show Who’s Right.
- Positive Sentiment: Commentary from value investors says the stock’s decline may be creating a long-term buying opportunity if fundamentals remain solid, which can support dip-buying interest. Should You Buy ServiceNow (NOW) Before Earnings?
- Neutral Sentiment: Wall Street is focused on upcoming quarterly results and key operating metrics, making the next earnings report the main near-term catalyst for the stock. Unveiling ServiceNow (NOW) Q2 Outlook: Wall Street Estimates for Key Metrics
- Negative Sentiment: A critical ServiceNow code execution flaw is reportedly being exploited in attacks, which could raise security concerns and create a temporary headline overhang. Critical ServiceNow code execution flaw now exploited in attacks
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.
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