Profund Advisors LLC Purchases 12,676 Shares of ServiceNow, Inc. $NOW

Profund Advisors LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 335.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,454 shares of the information technology services provider’s stock after buying an additional 12,676 shares during the quarter. Profund Advisors LLC’s holdings in ServiceNow were worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC raised its stake 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 worth $25,000 after acquiring an additional 18 shares during the last quarter. Noble Wealth Management PBC raised its stake 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 worth $25,000 after acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC raised its stake 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 worth $25,000 after acquiring an additional 132 shares during the last quarter. Lodestone Wealth Management LLC bought a new position in shares of ServiceNow in the fourth quarter worth about $26,000. Finally, Albion Financial Group UT raised its stake 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 worth $26,000 after acquiring an additional 136 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NOW shares. Wells Fargo & Company dropped their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Capital One Financial boosted their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Benchmark started coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They issued a “buy” rating and a $125.00 target price for the company. TD Cowen reaffirmed a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.89.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

ServiceNow Stock Down 1.7%

Shares of NYSE:NOW opened at $101.71 on Wednesday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a 50 day moving average of $99.72 and a 200-day moving average of $127.48. 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 stock has a market cap of $104.86 billion, a price-to-earnings ratio of 60.61, a P/E/G ratio of 1.76 and a beta of 0.82.

ServiceNow (NYSE:NOW) last issued 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. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company earned $0.81 EPS. ServiceNow’s revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the business’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 transaction of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 31,767 shares of company stock worth $2,906,098 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.