ServiceNow, Inc. $NOW Shares Bought by Granite Investment Partners LLC

Granite Investment Partners LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 27.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,629 shares of the information technology services provider’s stock after buying an additional 4,865 shares during the period. Granite Investment Partners LLC’s holdings in ServiceNow were worth $2,366,000 at the end of the most recent reporting period.

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

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Truist Financial raised its price target on ServiceNow to $130 from $120 and reiterated a buy rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Several recent articles highlighted ServiceNow as a strong AI/software name, with commentary suggesting the market is becoming more constructive on the company’s long-term growth story.
• Positive Sentiment: An article on “final trades” and other media coverage kept ServiceNow in the spotlight, reinforcing investor interest and supporting sentiment around the stock.
• Neutral Sentiment: ServiceNow was also mentioned in broader cloud and software market discussions, including an AI trade rotation away from semiconductors and toward software, which may be helping the stock but does not reflect company-specific news. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Other coverage noted that ServiceNow is consolidating after recent moves, suggesting traders are digesting the stock’s valuation and AI expectations rather than reacting to a single new catalyst. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Some recent pieces continued to question the stock’s performance this year and pointed to investor concern about the company’s future growth, which may cap enthusiasm.

ServiceNow Stock Performance

ServiceNow stock opened at $108.88 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The firm’s 50 day simple moving average is $102.11 and its 200-day simple moving average is $111.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $112.26 billion, a P/E ratio of 64.89, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on NOW. Canaccord Genuity Group dropped their target price on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a report on Thursday, April 23rd. HSBC decreased their price target on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Mizuho dropped their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Finally, Morgan Stanley cut their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $141.47.

Insider Activity

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 completion of the sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade 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. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last 90 days. Company insiders own 0.34% of the company’s stock.

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.