LB Partners LLC Takes Position in ServiceNow, Inc. $NOW

LB Partners LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,000 shares of the information technology services provider’s stock, valued at approximately $627,000. ServiceNow accounts for about 0.6% of LB Partners LLC’s holdings, making the stock its 24th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of 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 last quarter. Sivia Capital Partners LLC lifted its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after acquiring an additional 34 shares in the last quarter. United Bank boosted its holdings in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in 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 increased its holdings in ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 609 shares during 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, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow 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 owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last ninety days. Insiders own 0.34% of the company’s stock.

ServiceNow Stock Up 6.6%

NOW stock opened at $105.81 on Thursday. The firm has a market cap of $109.09 billion, a price-to-earnings ratio of 63.06, a PEG ratio of 1.65 and a beta of 0.96. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The firm has a fifty day moving average price of $100.35 and a two-hundred day moving average price of $113.40. 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 posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy and said the stock’s valuation looks too depressed despite real AI-related risks, helping spark a rally in the shares. ServiceNow and Salesforce shares now look like buys, as ‘Armageddon’ fears are too extreme, analyst says
• Positive Sentiment: ServiceNow and Accenture launched a joint initiative to modernize enterprise risk management with agentic AI, reinforcing the company’s position in AI-powered workflow and security software. Why ServiceNow Stock Is Rising Today
• Positive Sentiment: Analysts and recent articles highlighted ServiceNow’s enterprise AI adoption, security expansion, and strong workflow demand as potential supports for long-term growth and future earnings upside. NOW Benefits From Enterprise AI Adoption: Buy, Sell, or Hold the Stock?

Analysts Set New Price Targets

Several equities analysts have recently commented on NOW shares. Needham & Company LLC reiterated a “buy” rating and set a $115.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Robert W. Baird reduced their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Citic Securities dropped their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Cantor Fitzgerald set a $130.00 price target on shares of ServiceNow in a research report on Monday, June 15th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.68.

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.