Ameritas Investment Partners Inc. Increases Stock Position in ServiceNow, Inc. $NOW

Ameritas Investment Partners Inc. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 497.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,175 shares of the information technology services provider’s stock after buying an additional 28,451 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in ServiceNow were worth $5,235,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NOW. IAG Wealth Partners LLC lifted 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 in the last quarter. Noble Wealth Management PBC lifted its holdings in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted its holdings in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new position in ServiceNow during the fourth quarter valued at $25,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the firm’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 sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $236.00 price objective (up from $226.00) on shares of ServiceNow in a report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $141.85.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new AI hiring-agent partnership with Phenom, which could strengthen its workplace automation offerings and support future enterprise demand. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, pointing to AI growth, pricing power, and a potential long-term revenue path that supports the investment case. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow and NICE launched an AI solution linking customer engagement with enterprise workflows, a partnership that could deepen the company’s platform value and expand use cases. ServiceNow NICE AI Alliance Links Customer Engagement To Core Workflows
• Neutral Sentiment: Zacks said investors have been heavily searching for ServiceNow, highlighting elevated trader interest, but the note did not include a major fundamental catalyst. Investors Heavily Search ServiceNow, Inc. (NOW): Here is What You Need to Know
• Neutral Sentiment: Jim Cramer said ServiceNow is “expensive,” reinforcing valuation concerns that may be limiting upside even as the business remains strong. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: TechCrunch reported that a bug exposed some customer data to the internet, and other security articles said the vulnerability was exploited against some customers. That raises a potential trust and compliance risk for the platform. ServiceNow tells customers a bug left some of their data exposed to the internet

ServiceNow Stock Performance

NYSE:NOW opened at $106.27 on Thursday. The company’s 50-day moving average price is $99.87 and its 200-day moving average price is $120.59. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $109.57 billion, a P/E ratio of 63.33, a P/E/G ratio of 1.77 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal 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.