ServiceNow, Inc. $NOW Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 248.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,798,162 shares of the information technology services provider’s stock after purchasing an additional 1,281,915 shares during the period. Bessemer Group Inc.’s holdings in ServiceNow were worth $275,460,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AustralianSuper Pty Ltd increased its holdings in ServiceNow by 284.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 392,547 shares of the information technology services provider’s stock valued at $60,134,000 after purchasing an additional 290,544 shares during the last quarter. SkyOak Wealth LLC increased its holdings in ServiceNow by 400.0% in the 4th quarter. SkyOak Wealth LLC now owns 13,545 shares of the information technology services provider’s stock valued at $2,075,000 after purchasing an additional 10,836 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in ServiceNow by 372.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,495,706 shares of the information technology services provider’s stock valued at $229,137,000 after purchasing an additional 1,179,387 shares during the last quarter. Meridian Financial Partners LLC increased its holdings in ServiceNow by 373.3% in the 4th quarter. Meridian Financial Partners LLC now owns 2,835 shares of the information technology services provider’s stock valued at $434,000 after purchasing an additional 2,236 shares during the last quarter. Finally, Avantax Planning Partners Inc. increased its holdings in ServiceNow by 459.0% in the 4th quarter. Avantax Planning Partners Inc. now owns 8,245 shares of the information technology services provider’s stock valued at $1,263,000 after purchasing an additional 6,770 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research reports. Truist Financial dropped their target price on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. FBN Securities dropped their target price on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Cantor Fitzgerald dropped their target price on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Finally, Wolfe Research set a $125.00 target price on shares of ServiceNow in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $144.71.

ServiceNow News Roundup

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

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 3,696 shares of ServiceNow stock in a transaction 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. The trade was a 31.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow 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 sale, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade 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. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $90.56 on Friday. The company has a fifty day simple moving average of $100.89 and a two-hundred day simple moving average of $129.31. The company has a market cap of $93.37 billion, a price-to-earnings ratio of 53.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 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 EPS for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. 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 firm posted $0.81 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

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.