Formidable Asset Management LLC increased its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 168.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,025 shares of the information technology services provider’s stock after buying an additional 6,912 shares during the period. Formidable Asset Management LLC’s holdings in ServiceNow were worth $1,153,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Advisors LLC increased its holdings in shares of ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after acquiring an additional 12 shares in the last quarter. JT Stratford LLC lifted its holdings in shares of ServiceNow by 3.5% in 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. Florida Financial Advisors LLC lifted its holdings in shares of ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares in the last quarter. First Affirmative Financial Network lifted its holdings in shares of ServiceNow by 1.7% in the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after purchasing an additional 15 shares in the last quarter. Finally, Nicolet Advisory Services LLC increased its stake in ServiceNow by 1.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock valued at $1,322,000 after purchasing an additional 16 shares in the last quarter. 87.18% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NOW. Evercore raised their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. TD Cowen reissued a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. FBN Securities lowered their target price on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. BMO Capital Markets lowered their target price on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.
ServiceNow Stock Up 0.3%
NOW opened at $98.64 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50-day moving average is $100.10 and its 200 day moving average is $114.88. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm has a market capitalization of $101.70 billion, a P/E ratio of 58.79, a PEG ratio of 1.64 and a beta of 0.94.
ServiceNow (NYSE:NOW – Get Free Report) 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 the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.
Trending Headlines about ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow is benefiting from a market rotation into software, with the stock trading near the top of the S&P 500 alongside peers like Workday and AppLovin as investors favor software over chips. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
- Positive Sentiment: Oppenheimer reiterated an Outperform rating and $130 price target, citing AI growth and ServiceNow’s partnership with Cognizant, which supports expectations for a second-half 2026 reacceleration. Oppenheimer Reaffirms Bullish Outlook on ServiceNow (NOW) Amid AI Growth and Cognizant Partnership
- Positive Sentiment: Recent commentary argues ServiceNow remains a high-quality business trading at a discount, reinforcing the bullish valuation case if growth stays steady. ServiceNow: An Excellent Business Trading at a Discount
- Neutral Sentiment: Industry coverage and comparisons versus Salesforce highlight that ServiceNow’s revenue growth has been more consistent, but the articles are mostly informational rather than a direct catalyst. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?
- Neutral Sentiment: HCLTech’s expanded work with Google Cloud and ServiceNow on AI agents adds ecosystem momentum, but it is not a direct financial update for NOW. HCLTech unveils AI agents on Gemini Enterprise with Google Cloud, ServiceNow
- Negative Sentiment: The recent pullback in tech and AI stocks, especially semiconductors, has kept valuation pressure on the broader sector and likely contributed to recent volatility in ServiceNow shares. Palantir Joins Software Stock Rally Amid Semiconductor, Tech Sell-Off
Insider Activity
In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is owned by corporate insiders.
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.
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