Legato Capital Management LLC Has $4.12 Million Stock Holdings in ServiceNow, Inc. $NOW

Legato Capital Management LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 417.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,900 shares of the information technology services provider’s stock after purchasing an additional 21,700 shares during the period. Legato Capital Management LLC’s holdings in ServiceNow were worth $4,121,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC boosted its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC boosted its position in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted 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 valued at $25,000 after purchasing an additional 132 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in ServiceNow during the fourth quarter valued at approximately $26,000. Finally, Albion Financial Group UT boosted its position in ServiceNow by 400.0% during the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 136 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

ServiceNow Trading Up 2.4%

Shares of NYSE:NOW opened at $102.13 on Friday. The company has a 50-day simple moving average of $98.74 and a 200 day simple moving average of $126.13. 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 company has a market capitalization of $105.29 billion, a P/E ratio of 60.86, a price-to-earnings-growth ratio of 1.81 and a beta of 0.82. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

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. The firm 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 business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Capital One Financial raised their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $236.00 target price (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Evercore raised their target price on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, TD Cowen reiterated a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.85.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. 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 firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was 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 $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 31,767 shares of company stock valued at $2,906,098. 0.34% of the stock is currently owned by 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.