Nicollet Investment Management Inc. Buys 16,883 Shares of ServiceNow, Inc. $NOW

Nicollet Investment Management Inc. lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 405.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,045 shares of the information technology services provider’s stock after acquiring an additional 16,883 shares during the period. Nicollet Investment Management Inc.’s holdings in ServiceNow were worth $3,224,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NOW. Vanguard Group Inc. raised its position in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. Norges Bank bought a new position in shares of ServiceNow in the 4th quarter worth $2,020,992,000. Capital International Investors raised its position in shares of ServiceNow by 396.0% in the 4th quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock worth $1,592,310,000 after acquiring an additional 8,297,818 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of ServiceNow by 404.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock worth $1,279,416,000 after acquiring an additional 6,695,802 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.7%

ServiceNow stock opened at $106.27 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day simple moving average is $99.87 and its two-hundred day simple moving average is $120.59. The company has a market cap of $109.57 billion, a PE ratio of 63.33, a PEG ratio of 1.77 and a beta of 0.94. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new AI hiring-agent partnership with Phenom, which could strengthen its workplace automation offerings and support future enterprise demand. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, pointing to AI growth, pricing power, and a potential long-term revenue path that supports the investment case. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow and NICE launched an AI solution linking customer engagement with enterprise workflows, a partnership that could deepen the company’s platform value and expand use cases. ServiceNow NICE AI Alliance Links Customer Engagement To Core Workflows
• Neutral Sentiment: Zacks said investors have been heavily searching for ServiceNow, highlighting elevated trader interest, but the note did not include a major fundamental catalyst. Investors Heavily Search ServiceNow, Inc. (NOW): Here is What You Need to Know
• Neutral Sentiment: Jim Cramer said ServiceNow is “expensive,” reinforcing valuation concerns that may be limiting upside even as the business remains strong. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: TechCrunch reported that a bug exposed some customer data to the internet, and other security articles said the vulnerability was exploited against some customers. That raises a potential trust and compliance risk for the platform. ServiceNow tells customers a bug left some of their data exposed to the internet

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $121.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Piper Sandler reduced their target price on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Evercore upped their target price on ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Wells Fargo & Company reduced their target price on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Finally, HSBC reduced their target price on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their position. 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. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.