Harvest Fund Management Co. Ltd Increases Position in ServiceNow, Inc. $NOW

Harvest Fund Management Co. Ltd grew its stake in ServiceNow, Inc. (NYSE:NOW) by 725.9% during the fourth quarter, HoldingsChannel reports. The fund owned 8,490 shares of the information technology services provider’s stock after acquiring an additional 7,462 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in ServiceNow were worth $1,300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Meridian Wealth Advisors LLC grew its stake in ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after purchasing an additional 12 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after purchasing an additional 13 shares during the last quarter. JT Stratford LLC grew its stake in ServiceNow by 3.5% during the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after purchasing an additional 13 shares during the last quarter. Florida Financial Advisors LLC grew its stake in ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after purchasing an additional 14 shares during the last quarter. Finally, Cozad Asset Management Inc. grew its stake in ServiceNow by 6.7% during the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock valued at $205,000 after purchasing an additional 14 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $112.45 on Friday. The business has a 50 day simple moving average of $99.48 and a two-hundred day simple moving average of $122.03. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a market capitalization of $115.94 billion, a P/E ratio of 67.02, a PEG ratio of 1.97 and a beta of 0.94. 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 announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. Evercore boosted their price objective on ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Morgan Stanley decreased their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Capital One Financial upped their price target on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Sanford C. Bernstein reaffirmed 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. Finally, Mizuho reduced their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 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 disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

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.