ServiceNow, Inc. $NOW Shares Bought by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 36.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,751 shares of the information technology services provider’s stock after purchasing an additional 4,762 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in ServiceNow were worth $1,856,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of NOW. Noble Wealth Management PBC raised 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 acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its holdings in shares of ServiceNow by 400.0% in the fourth 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 last quarter. CBIZ Investment Advisory Services LLC lifted its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Blueline Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth $25,000. Finally, Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 2.6%

Shares of NYSE NOW opened at $110.70 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $114.13 billion, a PE ratio of 66.51, a PEG ratio of 1.77 and a beta of 0.96. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $210.20. The stock has a fifty day simple moving average of $100.53 and a 200-day simple moving average of $112.60.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the business posted $0.81 EPS. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow landed multiple AI-driven government and defense collaborations, including a biosurveillance project for the Department of War and a modernization effort for state health and human services systems, reinforcing its AI platform as a mission-critical solution. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Cyberhill Partners selected ServiceNow’s AI Platform as the foundation for a Defense Innovation Unit biosurveillance prototype, adding evidence that the company is winning high-value, security-sensitive AI contracts. ServiceNow (NOW) On AI And Defense Wins Is The Stock Still Undervalued
• Positive Sentiment: Recent market commentary says ServiceNow is outperforming the broader market, with shares closing higher in the latest session, supported by confidence that AI is expanding rather than replacing its workflow software business. ServiceNow (NOW) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Several articles argue the market may be undervaluing ServiceNow because fears that AI agents will disrupt workflow software appear to be overstated relative to the company’s reported results and growth outlook. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Neutral Sentiment: One article notes ServiceNow remains on a list of heavily downgraded stocks, but analysts still see meaningful upside in price targets, making the rating backdrop mixed rather than clearly negative. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)
• Negative Sentiment: Some analysts remain cautious that AI could eventually automate more business processes, potentially reducing the need for traditional workflow tools and creating a long-term threat to ServiceNow’s core model. The 1 Big Risk Every ServiceNow Investor Should Understand

Insider Activity

In other news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NOW shares. Truist Financial dropped their price objective on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. UBS Group reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Wells Fargo & Company reduced their price target on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group lowered their price objective on ServiceNow from $188.00 to $163.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.68.

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.