Portfolio Design Labs LLC Increases Stock Holdings in ServiceNow, Inc. $NOW

Portfolio Design Labs LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 437.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,088 shares of the information technology services provider’s stock after purchasing an additional 6,582 shares during the period. Portfolio Design Labs LLC’s holdings in ServiceNow were worth $1,239,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NOW. IAG Wealth Partners LLC lifted its position in shares of 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 in the last quarter. Noble Wealth Management PBC lifted its position in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its position in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC increased its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the period. Finally, Blueline Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $25,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. HSBC decreased their price objective on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. JPMorgan Chase & Co. dropped their price objective on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Truist Financial decreased their price objective on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $141.85.

Key ServiceNow News

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

ServiceNow Price Performance

Shares of NOW opened at $106.27 on Thursday. The business has a 50-day moving average of $99.87 and a 200-day moving average of $120.59. 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 $109.57 billion, a price-to-earnings ratio of 63.33, a price-to-earnings-growth ratio of 1.77 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 released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during 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%. ServiceNow’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company’s stock.

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.