SkyOak Wealth LLC Acquires 10,836 Shares of ServiceNow, Inc. $NOW

SkyOak Wealth LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 400.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,545 shares of the information technology services provider’s stock after acquiring an additional 10,836 shares during the period. SkyOak Wealth LLC’s holdings in ServiceNow were worth $2,075,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NOW. Cohen Klingenstein LLC lifted its position in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after acquiring an additional 8,000 shares during the period. World Investment Advisors lifted its position in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,218,000 after acquiring an additional 38,583 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after acquiring an additional 2,064,440 shares during the period. Torray Investment Partners LLC lifted its position in ServiceNow by 390.5% during the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider’s stock valued at $6,224,000 after acquiring an additional 32,345 shares during the period. Finally, Jennison Associates LLC lifted its position in ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock valued at $1,291,758,000 after acquiring an additional 6,213,762 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of recent research reports. TD Cowen reissued a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Raymond James Financial lowered their price target on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Citigroup lifted their price target on shares of ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, KeyCorp set a $85.00 target price on shares of ServiceNow and gave the stock an “underweight” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned 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, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $144.71.

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company’s stock, valued at approximately $820,367.97. This represents a 31.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 22,415 shares of company stock valued at $2,210,933. 0.34% of the stock is owned by corporate insiders.

Key ServiceNow News

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 Stock Up 4.0%

NOW opened at $90.56 on Friday. 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 firm has a 50 day moving average price of $100.89 and a 200-day moving average price of $129.31. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The stock has a market capitalization 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 released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 2.35 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.