Berbice Capital Management LLC Increases Stock Position in ServiceNow, Inc. $NOW

Berbice Capital Management LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 394.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,435 shares of the information technology services provider’s stock after buying an additional 15,508 shares during the period. ServiceNow makes up approximately 1.8% of Berbice Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Berbice Capital Management LLC’s holdings in ServiceNow were worth $2,977,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NOW. Avidian Wealth Enterprises LLC boosted its stake in shares of ServiceNow by 2.5% in the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock valued at $417,000 after buying an additional 11 shares in the last quarter. Meridian Wealth Advisors LLC lifted its holdings in ServiceNow by 2.2% in the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after acquiring an additional 12 shares during the period. Valley Brook Capital Group Inc. lifted its holdings in ServiceNow by 2.1% in the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock valued at $583,000 after acquiring an additional 13 shares during the period. Catalyst Financial Partners LLC lifted its holdings in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after acquiring an additional 13 shares during the period. Finally, JT Stratford LLC lifted its holdings in ServiceNow by 3.5% in the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after acquiring an additional 13 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

ServiceNow Trading Down 1.7%

Shares of ServiceNow stock opened at $101.71 on Wednesday. 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, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a market capitalization of $104.86 billion, a P/E ratio of 60.61, a P/E/G ratio of 1.76 and a beta of 0.82. The business has a 50 day moving average price of $99.72 and a 200 day moving average price of $127.48.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Canaccord Genuity Group reduced their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Finally, FBN Securities reduced their price target on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.89.

Insider Activity

In related news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 8,061 shares of the company’s stock, valued at $820,367.97. The trade was a 31.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 31,767 shares of company stock worth $2,906,098. Company 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.