Cunning Capital Partners LP Boosts Holdings in ServiceNow, Inc. $NOW

Cunning Capital Partners LP raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 400.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,025 shares of the information technology services provider’s stock after acquiring an additional 13,620 shares during the period. ServiceNow accounts for 1.2% of Cunning Capital Partners LP’s holdings, making the stock its 27th biggest holding. Cunning Capital Partners LP’s holdings in ServiceNow were worth $2,608,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC boosted its holdings in 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 purchasing an additional 18 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in ServiceNow in the third quarter valued at $29,000. Texas Capital Bancshares Inc TX purchased a new stake in ServiceNow in the third quarter valued at $37,000. Ameriflex Group Inc. boosted its holdings in ServiceNow by 187.5% in the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new stake in ServiceNow in the third quarter valued at $50,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Argus lowered their price target on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, April 24th. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the stock an “underweight” rating in a research report on Thursday, April 23rd. Morgan Stanley decreased their price objective on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. HSBC decreased their price objective on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Finally, Canaccord Genuity Group decreased their price objective on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Two 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.85.

ServiceNow Stock Down 6.5%

NOW opened at $106.80 on Wednesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. 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 company has a 50-day moving average price of $99.84 and a 200 day moving average price of $120.97. The company has a market cap of $110.11 billion, a PE ratio of 63.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated 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 $2,712,312.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 28,071 shares of company stock worth $2,529,956 in the last quarter. Company insiders own 0.34% of the company’s stock.

ServiceNow News Summary

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?

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.