Axiom Investors LLC DE Boosts Holdings in ServiceNow, Inc. $NOW

Axiom Investors LLC DE grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 155.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,208,445 shares of the information technology services provider’s stock after purchasing an additional 735,466 shares during the quarter. ServiceNow comprises approximately 1.6% of Axiom Investors LLC DE’s portfolio, making the stock its 15th biggest holding. Axiom Investors LLC DE’s holdings in ServiceNow were worth $185,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Outlook Wealth Advisors LLC boosted its position in shares of ServiceNow by 386.1% in the fourth quarter. Outlook Wealth Advisors LLC now owns 3,962 shares of the information technology services provider’s stock valued at $607,000 after acquiring an additional 3,147 shares during the period. Portfolio Design Labs LLC lifted its position in ServiceNow by 437.1% during the fourth quarter. Portfolio Design Labs LLC now owns 8,088 shares of the information technology services provider’s stock valued at $1,239,000 after purchasing an additional 6,582 shares during the last quarter. Cooper Haims Advisors LLC lifted its position in ServiceNow by 400.0% during the fourth quarter. Cooper Haims Advisors LLC now owns 1,685 shares of the information technology services provider’s stock valued at $258,000 after purchasing an additional 1,348 shares during the last quarter. Insight Advisors LLC PA lifted its position in ServiceNow by 401.5% during the fourth quarter. Insight Advisors LLC PA now owns 1,344 shares of the information technology services provider’s stock valued at $206,000 after purchasing an additional 1,076 shares during the last quarter. Finally, Strategic Advocates LLC lifted its position in ServiceNow by 453.5% during the fourth quarter. Strategic Advocates LLC now owns 15,864 shares of the information technology services provider’s stock valued at $2,447,000 after purchasing an additional 12,998 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 6.5%

Shares of NYSE NOW opened at $106.80 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The firm’s fifty day moving average is $99.84 and its 200 day moving average is $120.97. The company has a market cap of $110.11 billion, a price-to-earnings ratio of 63.65, a PEG ratio of 1.89 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its 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. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NOW. Cantor Fitzgerald dropped their target price on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. BNP Paribas Exane raised ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Monday, March 16th. The Goldman Sachs Group decreased their price objective on ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $236.00 target price (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.85.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Industry commentary from Thoma Bravo’s Orlando Bravo said fears of an AI-driven “SaaSpocalypse” are fading, calling AI an “enormous tailwind” for software companies. “SaaSpocalypse is over,” Thoma Bravo founder says
• Positive Sentiment: ServiceNow continues to see ecosystem support, including a new NICE AI-first integration designed to unify customer engagement and enterprise workflows, which reinforces demand for its platform. NICE Launches AI-First ServiceNow Integration to Unify Customer Engagement and Enterprise Workflows
• Neutral Sentiment: Several market-watch articles are comparing NOW with peer ExlService Holdings on valuation, suggesting investors are still debating whether ServiceNow’s recent pullback makes the stock attractive. EXLS vs. NOW: Which Stock Is the Better Value Option?
• Neutral Sentiment: Recent articles also frame the stock as part of a broader risk-off move in software and technology, with the Nasdaq weakening and high-multiple names coming under pressure. Nasdaq Slides as Chip Stocks Reverse Course
• Negative Sentiment: Benzinga reported that ServiceNow shares are sliding as investors turn defensive and reassess the recent rebound in enterprise software, adding to short-term selling pressure. ServiceNow Shares Are Sliding Tuesday: What’s Going On?

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The shares were 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 in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.

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.