Allen Investment Management LLC Has $121.16 Million Stake in ServiceNow, Inc. $NOW

Allen Investment Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 497.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 790,892 shares of the information technology services provider’s stock after buying an additional 658,450 shares during the period. ServiceNow makes up approximately 1.3% of Allen Investment Management LLC’s portfolio, making the stock its 21st largest position. Allen Investment Management LLC’s holdings in ServiceNow were worth $121,157,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 30 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in ServiceNow by 4.2% in the 2nd 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 lifted its position in shares of ServiceNow by 15.5% in the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after acquiring an additional 204 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in shares of ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC increased its position in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares during the period. Institutional investors own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a broad software rally after Nvidia’s Jensen Huang said AI should be seen as an opportunity for software firms rather than a threat. ServiceNow, Adobe stocks jump as Nvidia’s new AI chip sparks software rally
• Positive Sentiment: Investors are also reacting to ServiceNow’s recent quarterly results, which beat revenue estimates and showed continued double-digit growth, supporting the view that fundamentals remain strong. ServiceNow (NOW) shares skyrocket, what you need to know
• Positive Sentiment: Coverage points to ServiceNow as a leader in the software comeback, with investors betting the sector may have more room to rebound as AI demand grows. ServiceNow Is Leading a Software Comeback for These Stocks
• Neutral Sentiment: Commentary around “agentic AI” and ServiceNow’s role in enterprise automation is adding to bullish sentiment, but it is more narrative-driven than a new hard catalyst. What Exactly Is Agentic AI, and Why Are Some Stocks Blowing Up Because of It? (NOW)
• Neutral Sentiment: Analyst and media coverage continues to highlight ServiceNow as a stock with upside potential, reinforcing the positive tone but not adding a new company-specific announcement. ServiceNow Stock: Is NOW Underperforming the Technology Sector?

Analyst Ratings Changes

A number of brokerages recently commented on NOW. Citizens Jmp restated a “market outperform” rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Mizuho lowered their price target on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Robert W. Baird dropped their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. DA Davidson reaffirmed a “buy” rating and set a $190.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Piper Sandler decreased their target price on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value 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 represents a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents 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. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $135.70 on Tuesday. 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 firm has a market cap of $139.91 billion, a P/E ratio of 80.87, a P/E/G ratio of 2.05 and a beta of 0.94. The business’s fifty day moving average is $98.50 and its two-hundred day moving average is $123.13. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 2.36 earnings per share for the current fiscal year.

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.