Arax Advisory Partners Grows Stock Position in ServiceNow, Inc. $NOW

Arax Advisory Partners boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 180.5% in the fourth quarter, Holdings Channel reports. The fund owned 10,375 shares of the information technology services provider’s stock after buying an additional 6,676 shares during the quarter. Arax Advisory Partners’ holdings in ServiceNow were worth $1,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brasada Capital Management LP boosted its holdings in ServiceNow by 201.0% in the 4th quarter. Brasada Capital Management LP now owns 24,091 shares of the information technology services provider’s stock worth $3,552,000 after acquiring an additional 16,087 shares during the period. Brown Advisory Inc. boosted its holdings in ServiceNow by 235.6% in the 4th quarter. Brown Advisory Inc. now owns 3,337,919 shares of the information technology services provider’s stock worth $511,339,000 after acquiring an additional 2,343,187 shares during the period. Beta Wealth Group Inc. boosted its holdings in ServiceNow by 730.8% in the 4th quarter. Beta Wealth Group Inc. now owns 13,750 shares of the information technology services provider’s stock worth $2,106,000 after acquiring an additional 12,095 shares during the period. Bollard Group LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $83,000. Finally, Biondo Investment Advisors LLC boosted its holdings in ServiceNow by 399.4% in the 4th quarter. Biondo Investment Advisors LLC now owns 67,123 shares of the information technology services provider’s stock worth $10,282,000 after acquiring an additional 53,683 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $104.26 on Tuesday. 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 firm has a market cap of $107.50 billion, a P/E ratio of 62.14, a P/E/G ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The stock’s 50 day simple moving average is $99.85 and its 200 day simple moving average is $119.31.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’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 research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOW. Evercore upped their price target on ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Capital One Financial upped their price target on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. KeyCorp set a $85.00 price target on ServiceNow and gave the stock an “underweight” rating in a report on Thursday, April 23rd. Piper Sandler decreased their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Finally, Robert W. Baird decreased their price target on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $142.17.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 29,531 shares of the company’s stock, 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 is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% 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. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by insiders.

Key ServiceNow News

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

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.