King Luther Capital Management Corp Purchases 6,130 Shares of ServiceNow, Inc. $NOW

King Luther Capital Management Corp grew its position in ServiceNow, Inc. (NYSE:NOW) by 526.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,295 shares of the information technology services provider’s stock after acquiring an additional 6,130 shares during the quarter. King Luther Capital Management Corp’s holdings in ServiceNow were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares during the last quarter. State Street Corp increased its stake in ServiceNow by 1.4% in the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock worth $8,700,970,000 after acquiring an additional 131,080 shares during the last quarter. Jennison Associates LLC increased its stake in ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after acquiring an additional 6,213,762 shares during the last quarter. Fisher Asset Management LLC increased its stake in ServiceNow by 404.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock worth $1,279,416,000 after acquiring an additional 6,695,802 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in ServiceNow by 406.8% in the 4th quarter. Legal & General Group Plc now owns 6,895,985 shares of the information technology services provider’s stock worth $1,056,396,000 after acquiring an additional 5,535,170 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul Fipps sold 1,048 shares of the firm’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 directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 quarter. 0.34% of the stock is currently owned by insiders.

ServiceNow Price Performance

NYSE:NOW opened at $124.56 on Friday. The firm has a market capitalization of $128.42 billion, a price-to-earnings ratio of 74.23, a PEG ratio of 1.80 and a beta of 0.82. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The business has a 50 day simple moving average of $98.05 and a 200-day simple moving average of $123.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $3.75 billion. During the same period last year, the company earned $0.81 EPS. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NOW shares. Robert W. Baird reduced their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Capital One Financial raised their price objective on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Argus lowered their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, Raymond James Financial lowered their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow’s stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume (NYSE:NOW)

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.