ServiceNow, Inc. $NOW Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its position in ServiceNow, Inc. (NYSE:NOW) by 262.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,280 shares of the information technology services provider’s stock after buying an additional 11,065 shares during the quarter. Independence Bank of Kentucky’s holdings in ServiceNow were worth $1,598,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Noble Wealth Management PBC boosted its stake in shares of ServiceNow by 400.0% in 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 period. Millstone Evans Group LLC increased its stake 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 buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in ServiceNow by 540.0% during the 4th 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 in the last quarter. Blueline Advisors LLC acquired a new stake in ServiceNow during the 4th quarter worth approximately $25,000. Finally, Measured Wealth Private Client Group LLC boosted its position in ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. TD Cowen restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Truist Financial increased their price target on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets decreased their price objective on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.47.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Down 0.9%

NYSE:NOW traded down $1.03 during trading hours on Friday, hitting $107.81. The company’s stock had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $111.16 billion, a P/E ratio of 64.25, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. The stock has a fifty day moving average of $102.49 and a 200-day moving average of $111.27.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the business earned $0.81 EPS. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

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.