Northbridge Financial Group LLC Buys Shares of 7,306 ServiceNow, Inc. $NOW

Northbridge Financial Group LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,306 shares of the information technology services provider’s stock, valued at approximately $1,119,000.

Several other large investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC increased its holdings 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 valued at $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC increased its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC increased its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. Lodestone Wealth Management LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at about $26,000. Finally, Albion Financial Group UT increased its holdings in shares of ServiceNow by 400.0% in the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 136 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the 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 transaction, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 31,767 shares of company stock valued at $2,906,098. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 1.7%

NYSE:NOW opened at $101.71 on Wednesday. The stock’s 50 day moving average price is $99.72 and its 200 day moving average price is $127.48. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a market capitalization of $104.86 billion, a P/E ratio of 60.61, a P/E/G ratio of 1.76 and a beta of 0.82. 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 (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their target price on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Canaccord Genuity Group dropped their price target on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Cantor Fitzgerald dropped their price target on shares of ServiceNow to $122.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. FBN Securities dropped their price target on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $141.89.

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.