ServiceNow, Inc. $NOW Shares Purchased by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 400.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 129,600 shares of the information technology services provider’s stock after purchasing an additional 103,680 shares during the quarter. ServiceNow comprises about 3.2% of Avalon Global Asset Management LLC’s portfolio, making the stock its 11th biggest position. Avalon Global Asset Management LLC’s holdings in ServiceNow were worth $19,853,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. State Street Corp grew its position in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the last quarter. Geode Capital Management LLC grew its position in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Morgan Stanley grew its position in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares during the last quarter. Finally, Norges Bank purchased a new position in ServiceNow during the 4th quarter worth $2,020,992,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a research 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, May 4th. UBS Group reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. DA Davidson reissued a “buy” rating and set a $190.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

Insider Activity

In other news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated 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 completion of the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last ninety days. 0.34% of the stock is currently owned by insiders.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and kept a Buy rating, signaling confidence that the stock has meaningful upside from current levels.
• Positive Sentiment: Another report noted ServiceNow has an average analyst recommendation of Moderate Buy, reinforcing a broadly constructive Wall Street view of the company.
• Positive Sentiment: IBM’s expanded ServiceNow partnership was highlighted as a way to accelerate enterprise AI adoption, which could bolster ServiceNow’s platform relevance and long-term growth narrative. Can IBM’s Extended ServiceNow Deal Accelerate Enterprise AI Adoption?
• Neutral Sentiment: ServiceNow was described as a candidate to benefit from AI-driven workflow automation, but the commentary was more of a business thesis than a concrete catalyst. ServiceNow: A 7.0 Score in a Shifting AI Landscape
• Neutral Sentiment: ServiceNow outperformed the broader market in the latest session, but the move appeared tied to general momentum and analyst sentiment rather than a major company-specific announcement. ServiceNow (NOW) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Multiple articles compared ServiceNow with Salesforce and said CRM currently has the edge thanks to stronger Agentforce momentum, rising earnings estimates, and a lower valuation, which may pressure NOW’s relative appeal. ServiceNow vs. Salesforce: Which Cloud Software Stock Has an Edge Now?
• Negative Sentiment: A broader software-industry note said SaaS stocks have been under pressure over the past six months, a backdrop that can weigh on ServiceNow’s valuation even when company-specific news is positive. 1 Software Stock with Exciting Potential and 2 Facing Headwinds

ServiceNow Stock Up 2.1%

Shares of NYSE:NOW opened at $104.26 on Tuesday. The company has a market cap of $107.50 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. The firm’s 50-day simple moving average is $99.85 and its 200-day simple moving average is $119.31. 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 fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The business 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 business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.35 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.