Principle Wealth Partners LLC Boosts Stock Holdings in ServiceNow, Inc. $NOW

Principle Wealth Partners LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 492.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,724 shares of the information technology services provider’s stock after purchasing an additional 9,746 shares during the quarter. Principle Wealth Partners LLC’s holdings in ServiceNow were worth $1,796,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC boosted its holdings in shares of ServiceNow by 2.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock worth $417,000 after buying an additional 11 shares during the last quarter. Meridian Wealth Advisors LLC boosted its holdings in shares of ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock worth $508,000 after buying an additional 12 shares during the last quarter. Valley Brook Capital Group Inc. boosted its holdings in shares of ServiceNow by 2.1% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock worth $583,000 after buying an additional 13 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of ServiceNow by 1.0% in 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 buying an additional 13 shares during the last quarter. Finally, JT Stratford LLC boosted its holdings in shares of ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated 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 sale, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,767 shares of company stock valued at $2,906,098. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their price target 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. Benchmark initiated coverage on shares of ServiceNow in a report on Wednesday, April 1st. They issued a “buy” rating and a $125.00 price target on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $236.00 price target (up from $226.00) on shares of ServiceNow in a report on Wednesday, May 6th. Evercore boosted their price target on shares of ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Wells Fargo & Company cut their price target on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow Trading Up 2.4%

Shares of NOW opened at $102.13 on Friday. The business’s 50-day moving average price is $98.74 and its 200-day moving average price is $126.13. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The stock has a market cap of $105.29 billion, a PE ratio of 60.86, a P/E/G ratio of 1.81 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

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 firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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.