Redmond Asset Management LLC Has $1.34 Million Stake in ServiceNow, Inc. $NOW

Redmond Asset Management LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 379.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,725 shares of the information technology services provider’s stock after purchasing an additional 6,906 shares during the period. Redmond Asset Management LLC’s holdings in ServiceNow were worth $1,337,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NOW. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 404.5% in the 4th 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 purchasing an additional 81,752,460 shares during the period. Geode Capital Management LLC increased its holdings in shares of ServiceNow by 404.8% in 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 period. Fisher Asset Management LLC increased its holdings in shares of ServiceNow by 404.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock valued at $1,279,416,000 after purchasing an additional 6,695,802 shares during the period. Jennison Associates LLC increased its holdings in shares of ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of ServiceNow by 406.8% in the 4th quarter. Legal & General Group Plc now owns 6,895,985 shares of the information technology services provider’s stock valued at $1,056,396,000 after purchasing an additional 5,535,170 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred 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 transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by company insiders.

ServiceNow Trading Up 2.2%

Shares of NOW stock opened at $102.15 on Thursday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $98.00 and its two-hundred day moving average is $124.18. The company has a market cap of $105.31 billion, a PE ratio of 60.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS 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 for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research reports. Stifel Nicolaus dropped their price objective on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Citigroup increased their price objective on ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. KeyCorp set a $85.00 price objective on ServiceNow and gave the stock an “underweight” rating in a report on Thursday, April 23rd. The Goldman Sachs Group dropped their price objective on ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, DA Davidson restated a “buy” rating and issued a $190.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reiterated ServiceNow as a top buy, saying AI is a growth engine for the company and highlighting it as better positioned than Salesforce. This kind of analyst support can lift investor sentiment. Article Title
• Positive Sentiment: A new Zacks article and broader market buzz show ServiceNow is trending with investors, suggesting renewed interest in the stock after recent weakness. Article Title
• Neutral Sentiment: ServiceNow presented at the Jefferies Software, Internet & AI Conference, keeping the company in focus but without any clearly reported new financial catalyst in the transcript headline alone. Article Title
• Neutral Sentiment: Market commentary about institutional order flows and software sector weakness provides broader context, but it is not a direct company-specific driver. Article Title
• Negative Sentiment: Recent coverage also notes that investors remain worried AI could disrupt ServiceNow’s business model, and the stock had already fallen sharply earlier in the week after margin concerns despite a revenue beat. Article Title

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.