Krane Funds Advisors LLC Increases Stock Holdings in ServiceNow, Inc. $NOW

Krane Funds Advisors LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 769.2% during the fourth quarter, HoldingsChannel reports. The firm owned 24,233 shares of the information technology services provider’s stock after purchasing an additional 21,445 shares during the quarter. ServiceNow comprises approximately 0.1% of Krane Funds Advisors LLC’s portfolio, making the stock its 20th biggest holding. Krane Funds Advisors LLC’s holdings in ServiceNow were worth $3,712,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Meridian Wealth Advisors LLC increased its stake in ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after buying an additional 12 shares during the period. Catalyst Financial Partners LLC increased its stake in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after acquiring an additional 13 shares during the period. JT Stratford LLC increased its stake in shares of ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after acquiring an additional 13 shares during the period. Abbot Financial Management Inc. raised its holdings in ServiceNow by 2.9% during the third quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider’s stock worth $462,000 after purchasing an additional 14 shares in the last quarter. Finally, Cozad Asset Management Inc. lifted its position in ServiceNow by 6.7% in the third quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock valued at $205,000 after purchasing an additional 14 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NOW shares. Wells Fargo & Company lowered their price objective on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Bank of America initiated coverage on ServiceNow in a research note on Monday, May 18th. They issued a “buy” rating and a $130.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 price objective (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Citigroup raised their target price on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.85.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the firm’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 completion of the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at $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 three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by insiders.

ServiceNow Stock Up 0.0%

NOW opened at $112.45 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $115.94 billion, a price-to-earnings ratio of 67.02, a PEG ratio of 1.86 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The business’s fifty day moving average is $99.48 and its two-hundred day moving average is $121.71.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 2.35 EPS 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.