New York Life Investment Management LLC Buys 123,495 Shares of ServiceNow, Inc. $NOW

New York Life Investment Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 405.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,944 shares of the information technology services provider’s stock after buying an additional 123,495 shares during the period. New York Life Investment Management LLC’s holdings in ServiceNow were worth $23,583,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Magnus Financial Group LLC boosted its position in shares of ServiceNow by 1.9% in the third quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider’s stock worth $542,000 after purchasing an additional 11 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock valued at $417,000 after purchasing an additional 11 shares during the period. Meridian Wealth Advisors LLC raised its position in shares of ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after purchasing an additional 12 shares during the period. Valley Brook Capital Group Inc. lifted its stake in shares of ServiceNow by 2.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock valued at $583,000 after buying an additional 13 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its stake in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after buying an additional 13 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi to improve real-time data activation across enterprise systems, strengthening its positioning as a platform for agentic AI and workflow automation. ServiceNow and Boomi partner for data activation
• Positive Sentiment: FedEx is deepening its ServiceNow relationship with a procurement integration, a sign that major enterprise customers are broadening use of the platform and could drive more recurring revenue. FedEx advances ServiceNow partnership with procurement integration
• Positive Sentiment: ServiceNow and Accenture launched an engineering program to scale agentic AI for enterprise clients, which supports the company’s AI growth narrative and suggests more commercialization of its platform. ServiceNow (NOW), Accenture Launch Engineering Program to Scale Agentic AI for Enterprises
• Positive Sentiment: Several articles highlighted ServiceNow as an attractive AI/software name, with commentary suggesting the recent sell-off may be overdone and that investors are focusing on the stock’s long-term AI upside. 1 Incredible Artificial Intelligence (AI) Stock to Buy After Its Post-Earnings Sell-Off
• Neutral Sentiment: Analyst and media coverage remains mixed but generally constructive, with pieces debating whether the market is underestimating the impact of AI on ServiceNow’s business. ServiceNow: The Market Is Misunderstanding The Effects Of AI
• Negative Sentiment: A bearish options trade and commentary about further downside show that some traders still expect weakness, reflecting lingering pressure on the stock after its post-earnings decline. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
• Negative Sentiment: An insider sale by Paul Fipps was disclosed, which can add to short-term caution even though it was small and made under a pre-arranged trading plan. SEC insider filing for Paul Fipps

ServiceNow Trading Up 4.0%

Shares of ServiceNow stock opened at $90.56 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $100.89 and a 200-day moving average price of $129.31. The firm has a market cap of $93.37 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 1.54 and a beta of 0.82.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion during 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 firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Citizens Jmp reiterated a “market outperform” rating and issued a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. KeyCorp set a $85.00 price objective on ServiceNow and gave the stock an “underweight” rating in a research note on Thursday, April 23rd. Wells Fargo & Company cut their target price on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Oppenheimer set a $130.00 target price on ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Finally, Piper Sandler lowered their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.71.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,415 shares of company stock worth $2,210,933 over the last ninety days. Insiders own 0.34% of the company’s stock.

About ServiceNow

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.