OP Asset Management Ltd Invests $28.17 Million in ServiceNow, Inc. $NOW

OP Asset Management Ltd bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 269,403 shares of the information technology services provider’s stock, valued at approximately $28,166,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NOW. IAG Wealth Partners LLC boosted its position in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow during the 3rd quarter valued at $29,000. Texas Capital Bancshares Inc TX bought a new stake in shares of ServiceNow during the 3rd quarter worth $37,000. Ameriflex Group Inc. boosted its holdings in shares of 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 buying an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new position in shares of ServiceNow in the 3rd quarter worth about $50,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analysts remain constructive on ServiceNow’s long-term outlook, with multiple reports highlighting upside potential and calling the recent pullback an opportunity to buy. Wall Street expects ServiceNow stock to gain 52%, despite AI threat
• Positive Sentiment: Raymond James said ServiceNow may have pricing power that could drive faster revenue growth and support high-margin expansion. Raymond James sees ServiceNow pricing power driving high-margin growth
• Positive Sentiment: ServiceNow continues to expand its AI and workflow ecosystem through new partnerships in AI governance, public sector modernization, and communications billing, which could support future growth. ServiceNow (NOW) Expands AI Governance And Public Sector Reach With New Partnerships
• Neutral Sentiment: The stock has been drawing investor attention recently, with several articles noting increased trading interest and market focus, but without a clear new catalyst. ServiceNow, Inc. (NOW) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Recent coverage also compared ServiceNow with other enterprise software names and discussed how investors are positioning around AI-led business productivity platforms. ScienceLogic Announces New Skylar AI Updates and Recognition as a Leader in IDC MarketScape Reports
• Negative Sentiment: Some investors remain focused on AI concerns, which are being cited as a reason for weakness even after ServiceNow’s solid earnings performance. AI Concerns Hurt ServiceNow (NOW) Despite Strong Earnings
• Negative Sentiment: The latest trading updates show ServiceNow falling more than the broader market, reflecting ongoing selling pressure in software stocks. ServiceNow (NOW) Dips More Than Broader Market: What You Should Know

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. Barclays restated an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Benchmark boosted their target price on shares of ServiceNow from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Wells Fargo & Company reduced their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Citizens Jmp restated a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Citigroup lifted their price target on shares of ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 in the last ninety days. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $93.73 on Thursday. The firm’s 50 day moving average is $99.98 and its 200 day moving average is $115.96. The stock has a market capitalization of $96.64 billion, a P/E ratio of 55.86, a PEG ratio of 1.60 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

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.