Bleakley Financial Group LLC Buys Shares of 23,655 ServiceNow, Inc. $NOW

Bleakley Financial Group LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 23,655 shares of the information technology services provider’s stock, valued at approximately $3,624,000.

Several other hedge funds have also bought and sold shares of NOW. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the period. Sivia Capital Partners LLC boosted its holdings in ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after acquiring an additional 34 shares in the last quarter. United Bank boosted its holdings in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after acquiring an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after acquiring an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its holdings in ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after acquiring an additional 609 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $102.15 on Thursday. The stock has a market cap of $105.31 billion, a price-to-earnings ratio of 60.87, a PEG ratio of 1.65 and a beta of 0.82. The firm’s 50-day moving average is $98.00 and its 200 day moving average is $124.18. 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 announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The company 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%. ServiceNow’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOW. Deutsche Bank Aktiengesellschaft cut their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Macquarie Infrastructure cut their price target on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Evercore lifted their price target on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. The Goldman Sachs Group cut their price target on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald dropped their target price on shares of ServiceNow to $122.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $141.85.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reiterated ServiceNow as a top buy, saying AI is a growth engine for the company and highlighting it as better positioned than Salesforce. This kind of analyst support can lift investor sentiment. Article Title
• Positive Sentiment: A new Zacks article and broader market buzz show ServiceNow is trending with investors, suggesting renewed interest in the stock after recent weakness. Article Title
• Neutral Sentiment: ServiceNow presented at the Jefferies Software, Internet & AI Conference, keeping the company in focus but without any clearly reported new financial catalyst in the transcript headline alone. Article Title
• Neutral Sentiment: Market commentary about institutional order flows and software sector weakness provides broader context, but it is not a direct company-specific driver. Article Title
• Negative Sentiment: Recent coverage also notes that investors remain worried AI could disrupt ServiceNow’s business model, and the stock had already fallen sharply earlier in the week after margin concerns despite a revenue beat. Article Title

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. 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 have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

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.