Empowered Funds LLC Has $10.15 Million Position in ServiceNow, Inc. $NOW

Empowered Funds LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 97,055 shares of the information technology services provider’s stock after purchasing an additional 8,363 shares during the period. Empowered Funds LLC’s holdings in ServiceNow were worth $10,147,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the last quarter. State Street Corp raised its holdings in ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC boosted its position in ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley grew its stake in ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s latest quarterly results showed continued momentum: revenue rose 24% year over year to approximately $4 billion, while adjusted earnings exceeded consensus expectations. Management also raised guidance, and AI-related contract value surpassed $1 billion ahead of internal targets. ServiceNow Stock Opinions on Q2 Earnings Results
• Positive Sentiment: Analysts and investors remain constructive on ServiceNow’s workflow-automation and agentic-AI opportunity. An investment analysis cited accelerating user retention, pricing power, a growing security and risk business, and a long-term target of $30 billion to $32 billion in subscription revenue by 2030. The analysis raised its fair-value estimate to $160. ServiceNow User Retention Is Accelerating
• Positive Sentiment: Dynamic Lifecycle Innovations launched a new application on the ServiceNow platform for IT asset disposition, expanding the company’s partner ecosystem and demonstrating additional use cases for its workflow technology. Dynamic Lifecycle Innovations Launches New ServiceNow App
• Neutral Sentiment: ServiceNow’s valuation remains a major debate. The stock is well below its recent highs, while the average analyst price target is around $140 and a separate survey reports a $134 median target, indicating substantial potential upside but also skepticism about how quickly AI growth will translate into results. ServiceNow Showing Signs of Life
• Negative Sentiment: ServiceNow could eliminate up to 1,000 positions this year as part of a planned “rightsizing” effort following a series of acquisitions. Reports of continuing layoffs and employee frustration may weigh on sentiment, even though the reductions could eventually improve operating efficiency and offset acquisition-related costs. ServiceNow to Cut Up to 1,000 Jobs
• Negative Sentiment: Recent insider activity has been mixed but skewed toward selling, with nine sales versus two purchases over the past six months. Several senior executives sold shares, although CEO Bill McDermott was reported to have purchased shares. This is a secondary signal, but it may reinforce cautious sentiment.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NOW shares. JPMorgan Chase & Co. boosted their price target on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. FBN Securities decreased their target price on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Stifel Nicolaus dropped their price target on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Cantor Fitzgerald increased their price target on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.39.

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the business’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 completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 19,144 shares of company stock worth $1,730,097. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 4.8%

NOW stock opened at $110.18 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $196.40. The stock has a market cap of $113.93 billion, a price-to-earnings ratio of 68.86, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. The company has a fifty day moving average price of $105.45 and a two-hundred day moving average price of $106.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company’s revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

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.