IFP Advisors Inc Has $3.40 Million Stock Position in ServiceNow, Inc. $NOW

IFP Advisors Inc increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 352.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,172 shares of the information technology services provider’s stock after purchasing an additional 17,269 shares during the quarter. IFP Advisors Inc’s holdings in ServiceNow were worth $3,397,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Avidian Wealth Enterprises LLC increased its position in shares of ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after purchasing an additional 11 shares in the last quarter. Meridian Wealth Advisors LLC increased its position in shares of ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after purchasing an additional 12 shares in the last quarter. Valley Brook Capital Group Inc. increased its position in shares of ServiceNow by 2.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock worth $583,000 after purchasing an additional 13 shares in the last quarter. Catalyst Financial Partners LLC increased its position in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after purchasing an additional 13 shares in the last quarter. Finally, JT Stratford LLC increased its position in shares of ServiceNow by 3.5% during the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, 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 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction 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. The trade was a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,767 shares of company stock valued at $2,906,098 in the last three months. Insiders own 0.34% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage with a Buy rating, reinforcing optimism that ServiceNow can benefit from enterprise AI adoption and workflow automation. Article: Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Multiple analysts and media reports are portraying NOW as a prime “agentic AI” play, which is improving sentiment after a long selloff. Article: Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Neutral Sentiment: Citic Securities lowered its price target to $140 from $168 but kept a Buy rating, which is still constructive overall but signals tempered expectations. Article: Citic Securities Adjusts ServiceNow Price Target
• Neutral Sentiment: Additional commentary from conference transcripts and fund letters suggests institutional investors remain constructive, but these items are less likely to move the stock on their own. Article: ServiceNow Presents at J.P. Morgan Conference Transcript

ServiceNow Trading Down 3.5%

NOW opened at $99.70 on Friday. 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 $102.79 billion, a price-to-earnings ratio of 59.42, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The firm has a 50 day simple moving average of $99.01 and a 200 day simple moving average of $126.30. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting 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 analysts’ expectations of $3.75 billion. During the same period last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NOW shares. Mizuho lowered their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings cut shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Raymond James Financial lowered their price objective on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Truist Financial lowered their price objective on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus 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.