South Street Advisors LLC Boosts Stock Position in ServiceNow, Inc. $NOW

South Street Advisors LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 349.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,642 shares of the information technology services provider’s stock after acquiring an additional 84,458 shares during the period. ServiceNow accounts for approximately 2.3% of South Street Advisors LLC’s portfolio, making the stock its 18th largest holding. South Street Advisors LLC’s holdings in ServiceNow were worth $16,643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Glynn Capital Management LLC lifted its holdings in shares of ServiceNow by 391.3% in the fourth quarter. Glynn Capital Management LLC now owns 81,640 shares of the information technology services provider’s stock worth $12,506,000 after buying an additional 65,022 shares in the last quarter. Linscomb Wealth Inc. grew its stake in ServiceNow by 437.6% during the fourth quarter. Linscomb Wealth Inc. now owns 21,004 shares of the information technology services provider’s stock valued at $3,218,000 after acquiring an additional 17,097 shares in the last quarter. Womack Financial LLC increased its holdings in ServiceNow by 400.0% during the 4th quarter. Womack Financial LLC now owns 2,250 shares of the information technology services provider’s stock worth $345,000 after acquiring an additional 1,800 shares during the period. Rothschild Investment LLC increased its holdings in ServiceNow by 996.8% during the 4th quarter. Rothschild Investment LLC now owns 6,164 shares of the information technology services provider’s stock worth $944,000 after acquiring an additional 5,602 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in ServiceNow during the 4th quarter worth approximately $2,574,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a broader software-sector rebound after Snowflake’s strong earnings eased fears that AI will obsolete subscription software, especially for companies like NOW that sit at the center of AI-enabled workflows. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Dell’s blowout results and raised forecast also helped lift sympathy trades across AI-related names, including ServiceNow, reinforcing investor confidence in spending tied to AI infrastructure and automation. HPE, SMCI, NOW Stocks Rise In Sympathy Surge After Dell’s Blowout Report
• Positive Sentiment: Wipro expanded its partnership with ServiceNow to deploy agentic AI workflows across enterprise functions, a sign that NOW’s platform is gaining more adoption in automation and AI use cases. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Positive Sentiment: Unusually high call-option volume suggests traders are positioning for additional upside in ServiceNow shares, which can add to near-term bullish sentiment. ServiceNow Sees Unusually High Options Volume (NYSE:NOW)
• Neutral Sentiment: Recent coverage and conference remarks continue to highlight ServiceNow’s focus on governance, security, and enterprise integration as it competes for larger AI budgets, but these items are more strategic than immediate catalysts. Can ServiceNow Sustain Its Growth Amid Rising AI Competition?

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated 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 directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOW shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. BTIG Research reaffirmed a “buy” rating and issued a $150.00 price target on shares of ServiceNow in a report on Monday, May 4th. DA Davidson reaffirmed a “buy” rating and issued a $190.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Evercore upped their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $141.85.

ServiceNow Stock Up 6.3%

NOW opened at $108.58 on Friday. The stock has a market cap of $111.95 billion, a PE ratio of 64.71, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The business’s fifty day simple moving average is $97.84 and its 200 day simple moving average is $123.73.

ServiceNow (NYSE:NOW) last released 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. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $0.81 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

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.