Simplify Asset Management Inc. Increases Stock Position in ServiceNow, Inc. $NOW

Simplify Asset Management Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 637.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,929 shares of the information technology services provider’s stock after acquiring an additional 5,125 shares during the period. Simplify Asset Management Inc.’s holdings in ServiceNow were worth $908,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $29,000. Texas Capital Bancshares Inc TX purchased a new position in shares of ServiceNow during the 3rd quarter valued at approximately $37,000. Ameriflex Group Inc. lifted its position in shares of ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors acquired a new stake in ServiceNow in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. Macquarie Infrastructure cut their price target on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Stifel Nicolaus dropped their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Truist Financial cut their target price on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, 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 note on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at $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 is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction 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 completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Trending Headlines about ServiceNow

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

ServiceNow Trading Down 0.0%

Shares of NOW opened at $102.13 on Monday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The firm has a market capitalization of $105.29 billion, a P/E ratio of 60.86, a P/E/G ratio of 1.85 and a beta of 0.82. The firm has a 50-day moving average price of $98.74 and a 200 day moving average price of $125.73. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 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 in the previous year, the firm earned $0.81 earnings per share. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

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.