ServiceNow, Inc. $NOW Shares Bought by Oak Grove Capital LLC

Oak Grove Capital LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 412.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,780 shares of the information technology services provider’s stock after purchasing an additional 9,479 shares during the quarter. Oak Grove Capital LLC’s holdings in ServiceNow were worth $1,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC grew its stake in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after buying an additional 34 shares during the period. United Bank increased its position in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after acquiring an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its position in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after acquiring an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC raised its stake in shares of ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after acquiring an additional 609 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, 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 transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is owned by insiders.

ServiceNow Price Performance

NOW opened at $95.51 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The firm has a market cap of $98.47 billion, a price-to-earnings ratio of 56.92, a PEG ratio of 1.58 and a beta of 0.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $99.60 and a 200 day simple moving average of $117.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. Equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NOW shares. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. Mizuho lowered their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Piper Sandler cut their price objective on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Oppenheimer restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $121.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem with new partnerships involving Wipro, Digimarc, and HPE, highlighting broader adoption of its platform for enterprise rollout, AI trust, and unified operations. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Cognizant said ServiceNow AI Agents now interoperate with its Neuro AI Multi-Agent Accelerator, which could strengthen ServiceNow’s position in cross-platform enterprise AI orchestration. Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Positive Sentiment: Aria Systems and ServiceNow launched what they called the world’s first agentic BSS for telecoms, suggesting another vertical use case that could expand ServiceNow’s enterprise footprint. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms
• Positive Sentiment: Analyst coverage remains upbeat: one roundup cited 90% of 50 analysts with Buy ratings and an average price target implying meaningful upside, reinforcing the stock’s long-term AI growth narrative. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Neutral Sentiment: Zacks highlighted ServiceNow’s AI Control Tower as a potential future growth engine, but the article was more of a thesis piece than a hard catalyst. Can AI Control Tower Become ServiceNow’s Next Growth Engine?

ServiceNow Company 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.