Axiom Investors LLC DE Purchases 735,466 Shares of ServiceNow, Inc. $NOW

Axiom Investors LLC DE grew its position in ServiceNow, Inc. (NYSE:NOW) by 155.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,208,445 shares of the information technology services provider’s stock after acquiring an additional 735,466 shares during the period. ServiceNow comprises about 1.6% of Axiom Investors LLC DE’s portfolio, making the stock its 15th largest holding. Axiom Investors LLC DE owned 0.12% of ServiceNow worth $185,122,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC boosted its holdings in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC boosted its holdings in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC boosted its holdings in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Finally, Blueline Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at about $25,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW stock opened at $106.80 on Wednesday. The company has a 50 day simple moving average of $99.84 and a 200 day simple moving average of $120.97. The stock has a market cap of $110.11 billion, a price-to-earnings ratio of 63.65, a P/E/G ratio of 1.89 and a beta of 0.94. 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 posted 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 firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Industry commentary from Thoma Bravo’s Orlando Bravo said fears of an AI-driven “SaaSpocalypse” are fading, calling AI an “enormous tailwind” for software companies. “SaaSpocalypse is over,” Thoma Bravo founder says
• Positive Sentiment: ServiceNow continues to see ecosystem support, including a new NICE AI-first integration designed to unify customer engagement and enterprise workflows, which reinforces demand for its platform. NICE Launches AI-First ServiceNow Integration to Unify Customer Engagement and Enterprise Workflows
• Neutral Sentiment: Several market-watch articles are comparing NOW with peer ExlService Holdings on valuation, suggesting investors are still debating whether ServiceNow’s recent pullback makes the stock attractive. EXLS vs. NOW: Which Stock Is the Better Value Option?
• Neutral Sentiment: Recent articles also frame the stock as part of a broader risk-off move in software and technology, with the Nasdaq weakening and high-multiple names coming under pressure. Nasdaq Slides as Chip Stocks Reverse Course
• Negative Sentiment: Benzinga reported that ServiceNow shares are sliding as investors turn defensive and reassess the recent rebound in enterprise software, adding to short-term selling pressure. ServiceNow Shares Are Sliding Tuesday: What’s Going On?

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction 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 directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent research reports. Mizuho cut their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company cut their price objective on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. BMO Capital Markets cut their price objective on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. HSBC dropped their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Finally, Citic Securities dropped their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $141.85.

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.