Cerity Partners LLC Acquires 467,634 Shares of ServiceNow, Inc. $NOW

Cerity Partners LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 470.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 567,101 shares of the information technology services provider’s stock after acquiring an additional 467,634 shares during the quarter. Cerity Partners LLC’s holdings in ServiceNow were worth $86,874,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NOW. Orion Investment Co raised its stake in shares of ServiceNow by 397.7% in the fourth quarter. Orion Investment Co now owns 12,000 shares of the information technology services provider’s stock valued at $1,838,000 after buying an additional 9,589 shares during the period. West Family Investments Inc. raised its stake in shares of ServiceNow by 292.9% in the fourth quarter. West Family Investments Inc. now owns 4,397 shares of the information technology services provider’s stock valued at $674,000 after buying an additional 3,278 shares during the period. 1776 Wealth LLC raised its stake in shares of ServiceNow by 367.4% in the fourth quarter. 1776 Wealth LLC now owns 2,870 shares of the information technology services provider’s stock valued at $440,000 after buying an additional 2,256 shares during the period. Franklin Resources Inc. raised its stake in shares of ServiceNow by 222.1% in the fourth quarter. Franklin Resources Inc. now owns 7,037,379 shares of the information technology services provider’s stock valued at $1,078,056,000 after buying an additional 4,852,839 shares during the period. Finally, Erste Asset Management GmbH raised its stake in shares of ServiceNow by 260.6% in the fourth quarter. Erste Asset Management GmbH now owns 303,961 shares of the information technology services provider’s stock valued at $46,935,000 after buying an additional 219,668 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Industry commentary from Thoma Bravo’s Orlando Bravo said fears of an AI-driven “SaaSpocalypse” are fading, calling AI an “enormous tailwind” for software companies. “SaaSpocalypse is over,” Thoma Bravo founder says
• Positive Sentiment: ServiceNow continues to see ecosystem support, including a new NICE AI-first integration designed to unify customer engagement and enterprise workflows, which reinforces demand for its platform. NICE Launches AI-First ServiceNow Integration to Unify Customer Engagement and Enterprise Workflows
• Neutral Sentiment: Several market-watch articles are comparing NOW with peer ExlService Holdings on valuation, suggesting investors are still debating whether ServiceNow’s recent pullback makes the stock attractive. EXLS vs. NOW: Which Stock Is the Better Value Option?
• Neutral Sentiment: Recent articles also frame the stock as part of a broader risk-off move in software and technology, with the Nasdaq weakening and high-multiple names coming under pressure. Nasdaq Slides as Chip Stocks Reverse Course
• Negative Sentiment: Benzinga reported that ServiceNow shares are sliding as investors turn defensive and reassess the recent rebound in enterprise software, adding to short-term selling pressure. ServiceNow Shares Are Sliding Tuesday: What’s Going On?

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $106.80 on Wednesday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The business has a 50-day simple moving average of $99.84 and a 200 day simple moving average of $120.97. 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 stock has a market cap of $110.11 billion, a price-to-earnings ratio of 63.65, a PEG ratio of 1.89 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its 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. 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 period in the previous year, the business earned $0.81 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. On average, research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler decreased their price objective on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Argus decreased their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Bank of America assumed coverage on ServiceNow in a research note on Monday, May 18th. They set a “buy” rating and a $130.00 price objective on the stock. Raymond James Financial decreased their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Robert W. Baird decreased their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Two investment 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, the company currently has an average rating of “Moderate Buy” and an average price target of $141.85.

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.