International Assets Investment Management LLC Purchases 8,168 Shares of ServiceNow, Inc. $NOW

International Assets Investment Management LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 109.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 15,629 shares of the information technology services provider’s stock after purchasing an additional 8,168 shares during the period. International Assets Investment Management LLC’s holdings in ServiceNow were worth $1,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC increased its stake in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after acquiring an additional 14 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of ServiceNow by 1.7% during the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock valued at $821,000 after acquiring an additional 15 shares during the last quarter. Opes Wealth Management LLC boosted its position in shares of ServiceNow by 3.5% during the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock valued at $467,000 after acquiring an additional 17 shares during the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after purchasing an additional 18 shares in the last quarter. Finally, American Trust grew its holdings in shares of ServiceNow by 1.8% in the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after purchasing an additional 18 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 0.1%

Shares of NOW stock opened at $107.81 on Monday. The stock’s fifty day moving average price is $102.49 and its 200 day moving average price is $110.95. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20. The company has a market cap of $111.16 billion, a price-to-earnings ratio of 64.25, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction 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 transaction, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the business’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 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 SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NOW shares. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. Morgan Stanley reduced their target price on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. The Goldman Sachs Group restated a “buy” rating and set a $145.00 price objective (down from $163.00) on shares of ServiceNow in a research report on Wednesday. Stifel Nicolaus decreased their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $141.47.

ServiceNow News Summary

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?

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.