Alkeon Capital Management LLC Invests $9.22 Million in ServiceNow, Inc. $NOW

Alkeon Capital Management LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 60,170 shares of the information technology services provider’s stock, valued at approximately $9,217,000.

Other institutional investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC increased 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 worth $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC increased 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 worth $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC increased 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 worth $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC increased its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Finally, Blueline Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth approximately $25,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 2.1%

Shares of NOW stock opened at $104.26 on Tuesday. The business’s 50 day moving average is $99.85 and its two-hundred day moving average is $119.31. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a market capitalization of $107.50 billion, a P/E ratio of 62.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share 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 company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $0.81 EPS. The company’s revenue was up 22.1% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred 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 sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, 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. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NOW has been the topic of several research analyst reports. FBN Securities cut their price target on ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Cantor Fitzgerald set a $130.00 price target on ServiceNow in a research report on Monday. Citic Securities cut their price target on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Capital One Financial lifted their price target on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Mizuho cut their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $142.17.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and kept a Buy rating, signaling confidence that the stock has meaningful upside from current levels.
• Positive Sentiment: Another report noted ServiceNow has an average analyst recommendation of Moderate Buy, reinforcing a broadly constructive Wall Street view of the company.
• Positive Sentiment: IBM’s expanded ServiceNow partnership was highlighted as a way to accelerate enterprise AI adoption, which could bolster ServiceNow’s platform relevance and long-term growth narrative. Can IBM’s Extended ServiceNow Deal Accelerate Enterprise AI Adoption?
• Neutral Sentiment: ServiceNow was described as a candidate to benefit from AI-driven workflow automation, but the commentary was more of a business thesis than a concrete catalyst. ServiceNow: A 7.0 Score in a Shifting AI Landscape
• Neutral Sentiment: ServiceNow outperformed the broader market in the latest session, but the move appeared tied to general momentum and analyst sentiment rather than a major company-specific announcement. ServiceNow (NOW) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Multiple articles compared ServiceNow with Salesforce and said CRM currently has the edge thanks to stronger Agentforce momentum, rising earnings estimates, and a lower valuation, which may pressure NOW’s relative appeal. ServiceNow vs. Salesforce: Which Cloud Software Stock Has an Edge Now?
• Negative Sentiment: A broader software-industry note said SaaS stocks have been under pressure over the past six months, a backdrop that can weigh on ServiceNow’s valuation even when company-specific news is positive. 1 Software Stock with Exciting Potential and 2 Facing Headwinds

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.