ServiceNow, Inc. $NOW Position Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 494.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,136,340 shares of the information technology services provider’s stock after acquiring an additional 1,777,124 shares during the quarter. Russell Investments Group Ltd.’s holdings in ServiceNow were worth $327,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. IAG Wealth Partners LLC boosted its holdings in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after buying an additional 18 shares in the last quarter. Noble Wealth Management PBC grew its position in 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 buying an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its holdings 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 valued at $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC acquired a new stake in shares of ServiceNow during the 4th quarter valued at $25,000. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow 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 completion of the sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 ServiceNow 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 trade represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

ServiceNow Price Performance

NOW opened at $101.45 on Wednesday. The stock has a fifty day moving average of $99.84 and a 200-day moving average of $118.90. The firm has a market capitalization of $104.59 billion, a P/E ratio of 60.46, a PEG ratio of 1.72 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-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.

ServiceNow (NYSE:NOW) last issued 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. The business had revenue of $3.77 billion during 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%.ServiceNow’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 26th. Stifel Nicolaus reduced their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Mizuho decreased their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. BMO Capital Markets dropped their price target on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Wolfe Research set a $125.00 price objective on ServiceNow in a report on Thursday, April 23rd. One investment analyst has 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. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $142.17.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling confidence in further upside after recent analyst conversations. Street Insider article
• Positive Sentiment: ServiceNow announced or expanded AI-focused partnerships with Cognizant and Wipro to help enterprises move from AI pilots to full-scale deployment, which supports the company’s growth narrative around agentic AI workflows. Cognizant partnership article Wipro partnership article
• Positive Sentiment: Recent coverage also noted that ServiceNow has gained more than 16% over the past month, suggesting improving investor sentiment around its AI and enterprise workflow strategy. Yahoo Finance article
• Neutral Sentiment: Market articles highlighted ServiceNow’s recent outperformance versus the broader market in a prior session, but did not point to a new company-specific catalyst. MarketBeat/Zacks article
• Neutral Sentiment: Some commentary compared ServiceNow unfavorably with Salesforce on valuation and earnings momentum, which may keep pressure on the stock’s multiple. Zacks article
• Negative Sentiment: A report about a ServiceNow security breach exposing enterprise customer data could raise concerns about trust, compliance, and customer retention. CPO Magazine article

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.