Stephens Inc. AR Purchases 13,026 Shares of ServiceNow, Inc. $NOW

Stephens Inc. AR increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 42.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 43,503 shares of the information technology services provider’s stock after buying an additional 13,026 shares during the period. Stephens Inc. AR’s holdings in ServiceNow were worth $4,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in ServiceNow by 404.5% in 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 purchasing an additional 81,752,460 shares during the period. State Street Corp boosted its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after buying an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 valued at $4,962,692,000 after buying an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $3,591,425,000 after buying an additional 18,854,775 shares during the period. Finally, Morgan Stanley increased its holdings in ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after buying an additional 17,514,679 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Shares are benefiting from a broader rotation into software stocks as money moves out of semiconductors and into names that have lagged. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Positive Sentiment: Traders are reacting to AI-related product momentum and a more constructive analyst tone after Guggenheim pushed back on bearish “software extinction” arguments. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: New AI partnerships with defense and state agencies suggest ServiceNow’s platform is expanding beyond traditional workflow automation into mission-critical public sector use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Analysts and commentators are increasingly arguing that fears AI would disrupt ServiceNow’s software model may be overdone, which is improving the stock’s valuation narrative. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Neutral Sentiment: Recent coverage noted ServiceNow has outperformed the broader market and continues to attract attention as a possible contrarian software name, but this is more a reflection of momentum than a new fundamental catalyst. ServiceNow (NOW) Outperforms Broader Market: What You Need to Know

ServiceNow Stock Up 2.4%

NOW opened at $110.57 on Wednesday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. The company has a market cap of $114.00 billion, a PE ratio of 65.90, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $101.40 and a 200 day moving average of $111.94.

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, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on NOW. Oppenheimer reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. Morgan Stanley decreased their price target on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Citizens Jmp reiterated a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company reduced their price objective on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.68.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. 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 firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by company insiders.

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.