Allspring Global Investments Holdings LLC Boosts Stock Position in ServiceNow, Inc. $NOW

Allspring Global Investments Holdings LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 3.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 608,412 shares of the information technology services provider’s stock after purchasing an additional 17,729 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ServiceNow were worth $63,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of NOW. Wealth Watch Advisors INC acquired a new stake in ServiceNow in the 3rd quarter worth about $29,000. Kelleher Financial Advisors purchased a new stake in ServiceNow in the third quarter valued at approximately $50,000. Pin Oak Investment Advisors Inc. grew its holdings in ServiceNow by 20.7% in the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares during the period. Jupiter Wealth Management LLC acquired a new position in ServiceNow during the second quarter worth approximately $154,000. Finally, Noble Wealth Management PBC increased its position 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 worth $25,000 after purchasing an additional 128 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, 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 legal filing with the SEC, which can be accessed 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 stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over 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 corporate insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $103.40 on Friday. The company has a market capitalization of $106.60 billion, a price-to-earnings ratio of 61.62, a PEG ratio of 1.72 and a beta of 0.96. The business has a 50-day moving average of $103.97 and a 200-day moving average of $109.58. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20. 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The business 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 business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NOW. Truist Financial lifted their price target on shares of ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Capital One Financial upped their price objective on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. BTIG Research reiterated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a report on Monday, June 29th. Jefferies Financial Group reissued a “buy” rating and set a $135.00 price target (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Citigroup restated a “buy” rating and issued a $156.00 price objective (down from $158.00) on shares of ServiceNow in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $141.03.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

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.