Clare Market Investments LLC Invests $1.58 Million in ServiceNow, Inc. $NOW

Clare Market Investments LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, HoldingsChannel reports. The firm purchased 15,125 shares of the information technology services provider’s stock, valued at approximately $1,581,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Brighton Jones LLC raised its position in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares during the period. Sivia Capital Partners LLC lifted its position in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after acquiring an additional 34 shares in the last quarter. United Bank lifted its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after buying an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC increased its holdings in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow landed multiple AI-driven government and defense collaborations, including a biosurveillance project for the Department of War and a modernization effort for state health and human services systems, reinforcing its AI platform as a mission-critical solution. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Cyberhill Partners selected ServiceNow’s AI Platform as the foundation for a Defense Innovation Unit biosurveillance prototype, adding evidence that the company is winning high-value, security-sensitive AI contracts. ServiceNow (NOW) On AI And Defense Wins Is The Stock Still Undervalued
• Positive Sentiment: Recent market commentary says ServiceNow is outperforming the broader market, with shares closing higher in the latest session, supported by confidence that AI is expanding rather than replacing its workflow software business. ServiceNow (NOW) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Several articles argue the market may be undervaluing ServiceNow because fears that AI agents will disrupt workflow software appear to be overstated relative to the company’s reported results and growth outlook. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Neutral Sentiment: One article notes ServiceNow remains on a list of heavily downgraded stocks, but analysts still see meaningful upside in price targets, making the rating backdrop mixed rather than clearly negative. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)
• Negative Sentiment: Some analysts remain cautious that AI could eventually automate more business processes, potentially reducing the need for traditional workflow tools and creating a long-term threat to ServiceNow’s core model. The 1 Big Risk Every ServiceNow Investor Should Understand

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $110.59 on Tuesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $210.20. The firm’s fifty day simple moving average is $100.53 and its 200-day simple moving average is $112.60. The firm has a market capitalization of $114.01 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 1.77 and a beta of 0.96. 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 released 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 business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. Equities analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on NOW shares. The Goldman Sachs Group decreased their target price on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. BTIG Research reissued a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research report on Monday, June 29th. Capital One Financial upped their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Bank of America started coverage on ServiceNow in a research report on Monday, May 18th. They set a “buy” rating and a $130.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.68.

ServiceNow Company 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.