Alight Capital Management LP Increases Stock Holdings in ServiceNow, Inc. $NOW

Alight Capital Management LP lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 316.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,000 shares of the information technology services provider’s stock after buying an additional 19,000 shares during the quarter. Alight Capital Management LP’s holdings in ServiceNow were worth $3,830,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IAG Wealth Partners LLC grew its position in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares in the last quarter. Noble Wealth Management PBC lifted its holdings in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC lifted its holdings in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 135 shares during the period. Finally, Blueline Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $25,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was 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 of the company’s stock, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow 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 transaction, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,071 shares of company stock valued at $2,529,956 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NOW shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. JPMorgan Chase & Co. decreased their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Piper Sandler cut their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald set a $130.00 price target on ServiceNow in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: The Hackett Group joined the ServiceNow Partner Program to help enterprises speed up ROI-driven AI transformation using Hackett AI XPLR and the ServiceNow AI Platform, which could support future platform adoption and consulting-driven growth. The Hackett Group® Partners with ServiceNow to Help Enterprises Accelerate ROI-based AI Transformation
• Positive Sentiment: ServiceNow’s expanded partnership with Wipro to deploy agentic AI workflows at scale suggests continued momentum in enterprise AI adoption, which investors may view as a driver of longer-term revenue growth. ServiceNow (NOW): A Wipro Partnership to Close the Gap Between AI Pilots and Full Enterprise Deployment
• Positive Sentiment: A recent collaboration with Cognizant on AI governance also reinforces ServiceNow’s positioning as an enterprise AI workflow and compliance platform, a theme that has supported the stock’s recent recovery attempts. ServiceNow Inc (NOW) Teams Up With Cognizant on AI Governance
• Neutral Sentiment: Commentary from an investor letter noted that ServiceNow has benefited from growing adoption of AI-native solutions, but this is more of a broader thesis update than a new catalyst. ServiceNow (NOW) Slid Amid Growing Adoption of AI-Native Solutions
• Negative Sentiment: A report claiming a ServiceNow security breach exposed enterprise customer data could weigh on investor confidence if the issue proves credible, since trust and security are key to the company’s enterprise software business. ServiceNow Security Breach Exposes Enterprise Customer Data

ServiceNow Stock Down 6.0%

NYSE:NOW opened at $95.20 on Thursday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $98.15 billion, a price-to-earnings ratio of 56.73, a PEG ratio of 1.67 and a beta of 0.94. The stock has a 50-day moving average price of $99.69 and a two-hundred day moving average price of $118.44.

ServiceNow (NYSE:NOW) last posted its 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. As a group, equities analysts expect that ServiceNow, Inc. will post 2.35 earnings per share 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.