United Asset Strategies Inc. Boosts Stake in ServiceNow, Inc. $NOW

United Asset Strategies Inc. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,056 shares of the information technology services provider’s stock after purchasing an additional 8,484 shares during the period. United Asset Strategies Inc.’s holdings in ServiceNow were worth $13,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of NOW. Vanguard Group Inc. boosted its holdings in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. State Street Corp increased its stake in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after purchasing an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. HSBC reduced their price target on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. lowered their price objective on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Capital One Financial upped their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Mizuho decreased their price target on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Citic Securities dropped their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.68.

ServiceNow Stock Up 4.1%

Shares of NYSE:NOW traded up $4.41 during trading on Tuesday, reaching $112.34. The stock had a trading volume of 9,095,780 shares, compared to its average volume of 23,972,527. The firm’s 50-day simple moving average is $100.53 and its 200 day simple moving average is $112.60. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20. The company has a market capitalization of $115.82 billion, a P/E ratio of 67.00, a PEG ratio of 1.77 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS 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 analyst estimates of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 EPS. ServiceNow’s revenue was up 22.1% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim’s dismissive take on “software extinction” fears helped ease worries that AI could hurt enterprise software demand, supporting ServiceNow’s recent climb. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: ServiceNow announced additional government and defense AI partnerships, including biosurveillance and health-services modernization projects, reinforcing the company’s AI credibility in mission-critical use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Multiple articles argued that ServiceNow’s numbers continue to show resilience despite AI disruption fears, with commentary suggesting the stock may be undervalued relative to its growth and execution. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Positive Sentiment: Recent coverage also highlighted that analysts still see upside in ServiceNow despite some downgrades, keeping valuation debates in focus but not overturning the bullish long-term thesis. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)

About ServiceNow

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.