Pier 88 Investment Partners LLC Grows Stock Holdings in ServiceNow, Inc. $NOW

Pier 88 Investment Partners LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 393.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,200 shares of the information technology services provider’s stock after buying an additional 5,740 shares during the period. Pier 88 Investment Partners LLC’s holdings in ServiceNow were worth $1,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of NOW. Vanguard Group Inc. raised its stake in shares of ServiceNow by 404.5% in the fourth 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 in the last quarter. Jennison Associates LLC raised its stake in shares of ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock valued at $1,291,758,000 after acquiring an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock valued at $720,325,000 after acquiring an additional 3,743,087 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of ServiceNow by 613.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock valued at $588,326,000 after acquiring an additional 3,301,962 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of ServiceNow by 326.9% in the fourth quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider’s stock valued at $523,243,000 after acquiring an additional 2,615,500 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: FedEx is expanding its partnership with ServiceNow, which suggests continued enterprise demand for ServiceNow’s workflow and automation tools and could strengthen future revenue opportunities. FedEx expands ServiceNow partnership
• Positive Sentiment: Analysts remain constructive on ServiceNow, with BMO Capital reaffirming an Outperform rating and a $115 price target, citing the platform’s defensive positioning around autonomous execution, governance, and context. Why analysts still favor ServiceNow
• Positive Sentiment: ServiceNow is highlighting new AI governance tools through its AI Control Tower and related partnerships, which may appeal to enterprises looking for more control over AI agents and compliance. ServiceNow seeks AI control role as stock struggles and partnerships grow
• Neutral Sentiment: ServiceNow plans to raise $4 billion in a bond sale, which could provide financing flexibility but also adds leverage and is not a direct operating catalyst. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale
• Neutral Sentiment: Recent commentary about the stock “resetting” after a large decline reflects valuation debate rather than a clear new fundamental development. Is ServiceNow resetting after a 52% slide and DCF upside scenario?

Analyst Ratings Changes

NOW has been the topic of several analyst reports. Wolfe Research set a $125.00 price objective on ServiceNow in a research note on Thursday, April 23rd. KeyCorp set a $85.00 price objective on ServiceNow and gave the company an “underweight” rating in a research note on Thursday, April 23rd. Robert W. Baird reduced their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $236.00 price objective (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Finally, Truist Financial reduced their price objective on ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.71.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director owned 46,430 shares in the company, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,164 shares of company stock valued at $2,497,021 in the last three months. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Stock Up 0.4%

ServiceNow stock opened at $91.51 on Tuesday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $94.35 billion, a PE ratio of 54.53, a P/E/G ratio of 1.61 and a beta of 0.82. The stock’s fifty day moving average is $102.18 and its two-hundred day moving average is $131.38.

ServiceNow (NYSE:NOW) last posted 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 company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the firm earned $0.81 earnings per share. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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.