Capitolis Liquid Global Markets LLC Purchases 641,140 Shares of ServiceNow, Inc. $NOW

Capitolis Liquid Global Markets LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 1,144.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697,140 shares of the information technology services provider’s stock after purchasing an additional 641,140 shares during the quarter. Capitolis Liquid Global Markets LLC owned approximately 0.07% of ServiceNow worth $106,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of ServiceNow during the fourth quarter worth $2,020,992,000. Cohen Klingenstein LLC boosted its position in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares during the last quarter. World Investment Advisors raised its stake in ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,218,000 after purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. raised its stake in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after purchasing an additional 2,064,440 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

More ServiceNow News

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 Trading Down 6.0%

Shares of NOW opened at $95.20 on Thursday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a market cap of $98.15 billion, a P/E ratio of 56.73, a P/E/G ratio of 1.67 and a beta of 0.94. 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 company’s fifty day simple moving average is $99.69 and its 200-day simple moving average is $118.44.

ServiceNow (NYSE:NOW) last announced its 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 business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOW. Cantor Fitzgerald set a $130.00 price target on shares of ServiceNow in a research note on Monday. Morgan Stanley decreased their price target on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. 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. TD Cowen reaffirmed a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Truist Financial decreased their price target on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were 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 in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

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.