PFG Investments LLC Has $1.55 Million Stock Position in ServiceNow, Inc. $NOW

PFG Investments LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 71.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,858 shares of the information technology services provider’s stock after acquiring an additional 6,174 shares during the quarter. PFG Investments LLC’s holdings in ServiceNow were worth $1,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Norges Bank purchased a new stake in ServiceNow in the fourth quarter valued at $2,020,992,000. World Investment Advisors boosted its stake in ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after acquiring an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC grew its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after purchasing an additional 2,064,440 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

ServiceNow stock opened at $106.06 on Monday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business has a fifty day moving average of $100.53 and a two-hundred day moving average of $112.60. The company has a market cap of $109.34 billion, a P/E ratio of 63.20, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Oppenheimer reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the stock an “underweight” rating in a research report on Thursday, April 23rd. UBS Group reaffirmed an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a research note on Monday, June 29th. Finally, HSBC lowered their price objective on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.68.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy, saying AI fears have been overdone and that the stock offers meaningful upside from current levels. ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Other commentary framed ServiceNow as a “golden opportunity” for patient investors, reinforcing the view that the recent selloff may be excessive relative to its growth outlook. ServiceNow (NOW): A Golden Opportunity for Patient Investors
• Positive Sentiment: Analysts and investors continue to highlight demand for ServiceNow’s AI Control Tower and AI-enabled workflow tools, which supports the company’s long-term growth narrative. ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: Several articles discuss ServiceNow’s premium valuation, which may limit near-term upside even as growth remains solid. Does Guggenheim’s Upgrade Reframe ServiceNow (NOW) as an AI Workflow Enabler Rather Than a Disruption Risk?
• Negative Sentiment: Some reports still point to concerns about AI disruption, delayed large deal closures, acquisition-related margin pressure, and overall valuation risk, which could temper enthusiasm. ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

Insider Buying and Selling

In other news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated 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 completion of the sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The stock was 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 of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by company insiders.

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.