71 West Capital Partners Takes Position in ServiceNow, Inc. $NOW

71 West Capital Partners purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 61,272 shares of the information technology services provider’s stock, valued at approximately $9,386,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. State Street Corp raised its position in shares of ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Morgan Stanley raised its position in shares of ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after buying an additional 17,514,679 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ServiceNow by 417.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,004,910 shares of the information technology services provider’s stock valued at $2,145,412,000 after buying an additional 11,295,806 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOW. Evercore lifted their price target on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group decreased their price objective on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $236.00 price objective (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $142.17.

Insider Activity at ServiceNow

In other ServiceNow news, 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 of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 business’s stock in a transaction on 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 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. In the last ninety days, insiders sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $104.26 on Tuesday. The company’s 50 day simple moving average is $99.85 and its 200 day simple moving average is $119.31. The stock has a market capitalization of $107.50 billion, a price-to-earnings ratio of 62.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last posted its 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. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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.