ServiceNow, Inc. $NOW Shares Bought by Heritage Investors Management Corp

Heritage Investors Management Corp raised its stake in ServiceNow, Inc. (NYSE:NOW) by 498.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,511 shares of the information technology services provider’s stock after acquiring an additional 148,697 shares during the quarter. Heritage Investors Management Corp’s holdings in ServiceNow were worth $27,346,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. IAG Wealth Partners LLC raised its position in shares of 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 buying an additional 18 shares during the last quarter. Noble Wealth Management PBC raised its position in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares during the last quarter. Millstone Evans Group LLC raised its position in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $26,000. Finally, Albion Financial Group UT raised its position in shares of ServiceNow by 400.0% in the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 136 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was 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 of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,767 shares of company stock valued at $2,906,098. Insiders own 0.34% of the company’s stock.

More ServiceNow News

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 Stock Performance

Shares of NYSE:NOW opened at $99.70 on Friday. The firm has a market capitalization of $102.79 billion, a PE ratio of 59.42, a P/E/G ratio of 1.87 and a beta of 0.82. 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 business has a 50-day moving average of $99.01 and a two-hundred day moving average of $126.30. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48.

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, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial cut 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. FBN Securities dropped their target price on ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Wells Fargo & Company dropped their target price on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $236.00 target price (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Finally, Benchmark started coverage on ServiceNow in a research note on Wednesday, April 1st. They issued a “buy” rating and a $125.00 target price for the company. Two 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.