AXQ Capital LP Buys 10,626 Shares of ServiceNow, Inc. $NOW

AXQ Capital LP raised its stake in ServiceNow, Inc. (NYSE:NOW) by 1,531.1% in the fourth quarter, Holdings Channel reports. The firm owned 11,320 shares of the information technology services provider’s stock after acquiring an additional 10,626 shares during the quarter. AXQ Capital LP’s holdings in ServiceNow were worth $1,734,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. IAG Wealth Partners LLC grew its stake in ServiceNow by 200.0% in 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 in the last quarter. Wealth Watch Advisors INC bought a new position in shares of ServiceNow during the 3rd quarter worth approximately $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of ServiceNow during the 3rd quarter worth approximately $37,000. Ameriflex Group Inc. boosted its stake in shares of ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 30 shares during the period. Finally, Kelleher Financial Advisors bought a new position in shares of ServiceNow during the 3rd quarter worth approximately $50,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

NYSE:NOW opened at $135.70 on Tuesday. The stock has a fifty day moving average price of $98.50 and a 200-day moving average price of $123.13. The company has a market cap of $139.91 billion, a price-to-earnings ratio of 80.87, a PEG ratio of 2.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Bank of America initiated coverage on ServiceNow in a research note on Monday, May 18th. They set a “buy” rating and a $130.00 target price for the company. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Stifel Nicolaus decreased their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, UBS Group restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.85.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a broad software rally after Nvidia’s Jensen Huang said AI should be seen as an opportunity for software firms rather than a threat. ServiceNow, Adobe stocks jump as Nvidia’s new AI chip sparks software rally
• Positive Sentiment: Investors are also reacting to ServiceNow’s recent quarterly results, which beat revenue estimates and showed continued double-digit growth, supporting the view that fundamentals remain strong. ServiceNow (NOW) shares skyrocket, what you need to know
• Positive Sentiment: Coverage points to ServiceNow as a leader in the software comeback, with investors betting the sector may have more room to rebound as AI demand grows. ServiceNow Is Leading a Software Comeback for These Stocks
• Neutral Sentiment: Commentary around “agentic AI” and ServiceNow’s role in enterprise automation is adding to bullish sentiment, but it is more narrative-driven than a new hard catalyst. What Exactly Is Agentic AI, and Why Are Some Stocks Blowing Up Because of It? (NOW)
• Neutral Sentiment: Analyst and media coverage continues to highlight ServiceNow as a stock with upside potential, reinforcing the positive tone but not adding a new company-specific announcement. ServiceNow Stock: Is NOW Underperforming the Technology Sector?

About ServiceNow

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.