Peregrine Capital Management LLC Grows Stock Holdings in ServiceNow, Inc. $NOW

Peregrine Capital Management LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 398.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 449,538 shares of the information technology services provider’s stock after acquiring an additional 359,434 shares during the quarter. ServiceNow makes up 2.1% of Peregrine Capital Management LLC’s portfolio, making the stock its 6th largest holding. Peregrine Capital Management LLC’s holdings in ServiceNow were worth $68,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. IAG Wealth Partners LLC grew its holdings 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 period. Bogart Wealth LLC increased its position in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock worth $29,000 after buying an additional 15 shares in the last quarter. Wealth Watch Advisors INC bought a new position in shares of ServiceNow in the third quarter worth about $29,000. Albion Financial Group UT raised its stake in shares of ServiceNow by 78.9% in the third quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider’s stock worth $31,000 after buying an additional 15 shares during the period. Finally, True Wealth Design LLC lifted its position in shares of ServiceNow by 52.0% during the 3rd quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. DA Davidson reduced their target price on shares of ServiceNow from $220.00 to $190.00 and set a “buy” rating for the company in a report on Thursday. Capital One Financial dropped their price target on shares of ServiceNow from $158.00 to $113.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. BMO Capital Markets reduced their price objective on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, TD Cowen lowered their target price on shares of ServiceNow from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 subscription revenue and top-line: Subscription revenue grew ~22% YoY and overall Q1 revenue slightly beat consensus, showing continued demand for ServiceNow’s AI-driven platform. BusinessWire Q1 Release
• Positive Sentiment: Company raised its annual subscription revenue outlook, citing stronger AI adoption — a sign management sees sustainable demand for Now Assist and related products. Reuters: Boosts Outlook
• Neutral Sentiment: Strategic moves: ServiceNow closed the Armis acquisition to expand into OT/IoT/cyber asset visibility and announced deeper Google Cloud AI integrations — positive long-term product synergy but with short-term execution risk. Yahoo: Google Cloud Partnership
• Neutral Sentiment: Management tone and events calendar: CEO emphasized AI-driven productivity and an Analyst Day is scheduled for May 4 — useful for forward guidance clarity. Investors.com: Analyst Day
• Negative Sentiment: Middle East deal delays: Management said delayed large deals in the Middle East created ~75 bps of subscription-revenue headwind in Q1 and could push some closures into later quarters — an immediate growth and sentiment headwind. Yahoo: Deal Delays
• Negative Sentiment: Margins to be pressured by Armis purchase: ServiceNow warned the acquisition will create a roughly 75‑bp FY operating-margin headwind (125 bps in Q2), which contributed to investor concern about near-term profitability. WSJ: Armis Margin Impact
• Negative Sentiment: Market reaction and analyst moves: Despite the beat, sentiment soured — multiple shops trimmed price targets and the stock drew higher short interest amid broader AI/disruption worries, amplifying the selloff. Finviz: Analyst PT Cuts Reuters: Short Interest

ServiceNow Price Performance

Shares of NYSE:NOW traded down $16.36 during midday trading on Thursday, reaching $86.71. 17,589,364 shares of the company were exchanged, compared to its average volume of 20,024,004. The stock has a market cap of $89.84 billion, a PE ratio of 52.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. The business’s fifty day moving average is $105.55 and its two-hundred day moving average is $138.83. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company earned $4.04 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 2.49 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the transaction, the insider owned 26,314 shares in the company, valued at $2,781,652.94. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Fipps sold 3,696 shares of ServiceNow stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,237 shares of company stock valued at $1,697,162. 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.