6,398 Shares in ServiceNow, Inc. $NOW Acquired by Carmel Capital Partners LLC

Carmel Capital Partners LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,398 shares of the information technology services provider’s stock, valued at approximately $669,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares during the last quarter. State Street Corp raised its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC boosted its stake in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley boosted its stake in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Robert W. Baird lowered their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $145.00 target price (down from $163.00) on shares of ServiceNow in a research report on Wednesday. Citizens Jmp reiterated a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Citigroup increased their price target on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.47.

ServiceNow Trading Down 0.9%

Shares of NOW stock opened at $107.81 on Friday. The stock has a market capitalization of $111.16 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 1.81 and a beta of 0.96. The company’s fifty day simple moving average is $102.49 and its two-hundred day simple moving average is $111.27. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $210.20. 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 for the quarter, meeting the consensus estimate 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 in the previous year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is owned by corporate insiders.

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.