Cynosure Group LLC Purchases 7,128 Shares of ServiceNow, Inc. $NOW

Cynosure Group LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 872.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,945 shares of the information technology services provider’s stock after purchasing an additional 7,128 shares during the quarter. Cynosure Group LLC’s holdings in ServiceNow were worth $1,217,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC lifted its position in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow during the 3rd quarter worth $29,000. Texas Capital Bancshares Inc TX acquired a new position in ServiceNow in the 3rd quarter worth about $37,000. Ameriflex Group Inc. increased its holdings in ServiceNow by 187.5% in the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors acquired a new position in ServiceNow in the 3rd quarter worth about $50,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s 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 transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,071 shares of company stock worth $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Up 2.1%

Shares of NYSE:NOW opened at $104.26 on Tuesday. The business’s 50 day simple moving average is $99.85 and its two-hundred day simple moving average is $119.31. The firm has a market cap of $107.50 billion, a P/E ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

ServiceNow (NYSE:NOW) 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, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Citizens Jmp reissued a “market outperform” rating and issued a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. BTIG Research reissued a “buy” rating and issued a $150.00 price target on shares of ServiceNow in a research note on Monday, May 4th. Wells Fargo & Company cut their target price on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Finally, HSBC cut their target price on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: ServiceNow also benefited from a broader risk-on move after bond yields fell on news of a peace deal tied to reopening the Strait of Hormuz, helping high-quality software names like NOW move higher.
• Positive Sentiment: IBM extended its ServiceNow partnership to help enterprises overcome data and legacy-system barriers to AI adoption, reinforcing ServiceNow’s role in enterprise AI workflows.
• Neutral Sentiment: ServiceNow’s stock outperformed the market in the latest session, reflecting investor interest in the name, but the move was tied more to macro and sentiment factors than a new company-specific financial update.
• Neutral Sentiment: Commentary comparing ServiceNow with Salesforce suggests investors still see competition in cloud software, with some analysts favoring CRM on valuation and AI momentum.
• Negative Sentiment: A report said a ServiceNow security breach exposed enterprise customer data, which could raise concerns about trust, cybersecurity controls, and potential reputational damage.

ServiceNow 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.