Sky Investment Group LLC Acquires Shares of 7,360 ServiceNow, Inc. $NOW

Sky Investment Group LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,360 shares of the information technology services provider’s stock, valued at approximately $769,000.

Several other hedge funds have also modified their holdings of NOW. Meridian Wealth Advisors LLC grew its holdings in ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after acquiring an additional 12 shares during the period. Catalyst Financial Partners LLC lifted its holdings in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after acquiring an additional 13 shares during the period. JT Stratford LLC boosted its position in shares of ServiceNow by 3.5% during the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 13 shares in the last quarter. Abbot Financial Management Inc. boosted its position in shares of ServiceNow by 2.9% during the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock worth $462,000 after purchasing an additional 14 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its stake in shares of ServiceNow by 6.7% during the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock worth $205,000 after purchasing an additional 14 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. HSBC decreased their price target on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Monday, March 16th. Bank of America initiated coverage on ServiceNow in a report on Monday, May 18th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Benchmark boosted their target price on ServiceNow from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $95.51 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business’s fifty day moving average price is $99.56 and its two-hundred day moving average price is $117.48. The stock has a market cap of $98.47 billion, a PE ratio of 56.92, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share 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 analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, 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 ownership of the stock. 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 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by company insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem through new partnerships with Wipro, Digimarc, and HPE, reinforcing demand for its platform in enterprise automation and AIOps. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Analyst-style coverage is constructive, with articles highlighting ServiceNow as a leading generative AI software name and citing strong buy ratings and upside potential from current levels. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Positive Sentiment: ServiceNow’s AI Control Tower is being viewed as a potential growth engine as enterprises look for governance and orchestration tools to manage expanding AI deployments. Can AI Control Tower Become ServiceNow’s Next Growth Engine?
• Positive Sentiment: New ecosystem announcements with Aria Systems and Cognizant suggest ServiceNow is deepening integration across telecom and multi-agent enterprise workflows, which could support future platform adoption. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Neutral Sentiment: Several AI infrastructure and industry commentary pieces underscore the broader demand for enterprise AI tools, but they are more thematic than directly tied to near-term ServiceNow financial results. Cloud AI Update – Exploring AI’s Future Infrastructure Challenges And Solutions
• Negative Sentiment: The Seeking Alpha piece arguing that the “AI threat is overstated” implies there is still debate about whether AI could pressure software vendors, though the article itself is more reassuring than alarming for ServiceNow. ServiceNow: The AI Threat Is Overstated

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.