HighTower Advisors LLC Has $73.97 Million Stake in ServiceNow, Inc. $NOW

HighTower Advisors LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 397.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,830 shares of the information technology services provider’s stock after acquiring an additional 385,767 shares during the quarter. HighTower Advisors LLC’s holdings in ServiceNow were worth $73,965,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% during the 3rd 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 last quarter. Noble Wealth Management PBC grew its holdings 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 grew its holdings in ServiceNow by 400.0% during the 4th 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 last quarter. Lodestone Wealth Management LLC bought a new stake in ServiceNow during the 4th quarter worth approximately $26,000. Finally, Albion Financial Group UT grew its holdings in ServiceNow by 400.0% during the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 136 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. DA Davidson reissued a “buy” rating and issued a $190.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft decreased their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Piper Sandler decreased their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Bank of America started coverage on ServiceNow in a research note on Monday. They issued a “buy” rating and a $130.00 price target for the company. Finally, Truist Financial decreased their price target on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $141.89.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating and a $130 target, calling it an AI winner in the emerging agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Several articles said Wall Street is warming to ServiceNow because its workflow software could serve as a control layer for AI agents, easing fears that AI will replace its business. Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Positive Sentiment: Analysts and commentators highlighted that the recent selloff may have been overdone, with ServiceNow’s valuation looking more attractive after a sharp yearlong decline. Assessing ServiceNow (NOW) Valuation After A Year Of Sharp Share Price Declines
• Positive Sentiment: Media and analyst pieces also framed the stock’s rebound as part of a broader rotation back into software names, with ServiceNow singled out as one of the sector leaders. ServiceNow and Snowflake Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Some reports noted that the stock has fallen sharply over the past year despite revenue and profit growth, so investors are still weighing strong fundamentals against a still-extended valuation. After a 50% Drop, Is ServiceNow Stock Worth Buying?
• Negative Sentiment: There are still lingering concerns that AI disruption could pressure traditional enterprise software, and some commentary warned the recent bounce could fade if those fears return. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

ServiceNow Price Performance

Shares of NOW opened at $103.13 on Thursday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. 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 moving average price is $99.35 and its two-hundred day moving average price is $126.89. The firm has a market cap of $106.33 billion, a PE ratio of 61.46, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. The company’s revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 16,445 shares of the 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 transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,767 shares of company stock valued at $2,906,098 in the last ninety days. 0.34% of the stock is owned by corporate 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.