Glenview Trust Co Increases Stake in ServiceNow, Inc. $NOW

Glenview Trust Co lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 250.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 110,348 shares of the information technology services provider’s stock after buying an additional 78,897 shares during the period. Glenview Trust Co’s holdings in ServiceNow were worth $16,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NOW. IAG Wealth Partners LLC increased its position in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC increased its position in shares of ServiceNow by 400.0% during 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 during the period. Lodestone Wealth Management LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at about $26,000. Finally, Albion Financial Group UT increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

Wall Street Analyst Weigh In

NOW has been the topic of several research reports. BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Monday, March 16th. BTIG Research reissued a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. Cantor Fitzgerald dropped their price objective on shares of ServiceNow to $122.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Oppenheimer set a $130.00 price objective on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Finally, FBN Securities dropped their price objective on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.85.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were 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 in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. 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. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on 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 owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 0.0%

Shares of NYSE NOW opened at $102.13 on Monday. The firm’s 50 day moving average price is $98.74 and its 200-day moving average price is $125.73. The company has a market cap of $105.29 billion, a PE ratio of 60.86, a P/E/G ratio of 1.85 and a beta of 0.82. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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.