FourThought Financial Partners LLC Acquires 28,679 Shares of ServiceNow, Inc. $NOW

FourThought Financial Partners LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 410.6% during the fourth quarter, Holdings Channel reports. The firm owned 35,664 shares of the information technology services provider’s stock after acquiring an additional 28,679 shares during the quarter. FourThought Financial Partners LLC’s holdings in ServiceNow were worth $5,463,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NOW. IAG Wealth Partners LLC lifted its stake in 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 acquiring an additional 18 shares during the period. Wealth Watch Advisors INC bought a new position in ServiceNow in the 3rd quarter worth $29,000. Texas Capital Bancshares Inc TX purchased a new stake in shares of ServiceNow in the 3rd quarter worth about $37,000. Ameriflex Group Inc. boosted its stake in shares of ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors purchased a new position in shares of ServiceNow during the third quarter valued at about $50,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,767 shares of company stock valued at $2,906,098 in the last quarter. Insiders own 0.34% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating, helping spark fresh bullish sentiment around the stock. ServiceNow in focus as BofA restarts coverage with Buy rating
• Positive Sentiment: Analysts are increasingly viewing ServiceNow as an AI beneficiary, not a casualty, with commentary that its Action Fabric, Model Context Protocol, and Now Assist adoption could make it a control center for agentic AI workflows. NOW: Why A 20 Percent Grower At 19x ’27 EPS Doesn’t Stay There
• Positive Sentiment: Multiple reports say software stocks are rebounding as investors rotate back into enterprise software and reassess AI disruption fears, with ServiceNow among the leaders in that move. US software stocks attempt a rebound as investors reassess AI risks

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $103.13 on Thursday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The firm’s 50-day moving average is $99.35 and its 200 day moving average is $126.89. The stock has a market cap of $106.33 billion, a price-to-earnings ratio of 61.46, a PEG ratio of 1.85 and a beta of 0.82. 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. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the business earned $0.81 EPS. ServiceNow’s 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NOW shares. BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Monday, March 16th. Stifel Nicolaus reduced their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. DA Davidson reissued a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Robert W. Baird dropped their price target on ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, KeyCorp set a $85.00 price target on ServiceNow and gave the stock an “underweight” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.89.

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.