Motley Fool Asset Management LLC Acquires 91,539 Shares of ServiceNow, Inc. $NOW

Motley Fool Asset Management LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 546.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 108,285 shares of the information technology services provider’s stock after buying an additional 91,539 shares during the period. Motley Fool Asset Management LLC’s holdings in ServiceNow were worth $16,588,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NOW. Vanguard Group Inc. grew its stake in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Norges Bank bought a new position in shares of ServiceNow in the fourth quarter valued at $2,020,992,000. Capital International Investors grew its stake in shares of ServiceNow by 396.0% in the fourth quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock valued at $1,592,310,000 after buying an additional 8,297,818 shares in the last quarter. Finally, State Street Corp grew its stake in shares of ServiceNow by 1.4% in the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock valued at $8,700,970,000 after buying an additional 131,080 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 6.5%

Shares of ServiceNow stock opened at $106.80 on Wednesday. The business has a fifty day simple moving average of $99.84 and a two-hundred day simple moving average of $120.97. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a market capitalization of $110.11 billion, a price-to-earnings ratio of 63.65, a P/E/G ratio of 1.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on NOW. Capital One Financial raised their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the company an “underweight” rating in a research note on Thursday, April 23rd. Wells Fargo & Company decreased their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Industry commentary from Thoma Bravo’s Orlando Bravo said fears of an AI-driven “SaaSpocalypse” are fading, calling AI an “enormous tailwind” for software companies. “SaaSpocalypse is over,” Thoma Bravo founder says
• Positive Sentiment: ServiceNow continues to see ecosystem support, including a new NICE AI-first integration designed to unify customer engagement and enterprise workflows, which reinforces demand for its platform. NICE Launches AI-First ServiceNow Integration to Unify Customer Engagement and Enterprise Workflows
• Neutral Sentiment: Several market-watch articles are comparing NOW with peer ExlService Holdings on valuation, suggesting investors are still debating whether ServiceNow’s recent pullback makes the stock attractive. EXLS vs. NOW: Which Stock Is the Better Value Option?
• Neutral Sentiment: Recent articles also frame the stock as part of a broader risk-off move in software and technology, with the Nasdaq weakening and high-multiple names coming under pressure. Nasdaq Slides as Chip Stocks Reverse Course
• Negative Sentiment: Benzinga reported that ServiceNow shares are sliding as investors turn defensive and reassess the recent rebound in enterprise software, adding to short-term selling pressure. ServiceNow Shares Are Sliding Tuesday: What’s Going On?

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.