SkyOak Wealth LLC Purchases 10,836 Shares of ServiceNow, Inc. $NOW

SkyOak Wealth LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 400.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,545 shares of the information technology services provider’s stock after acquiring an additional 10,836 shares during the period. SkyOak Wealth LLC’s holdings in ServiceNow were worth $2,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NOW. IAG Wealth Partners LLC boosted its position in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC boosted its position in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC boosted its position in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares during the period. Lodestone Wealth Management LLC bought a new position in shares of ServiceNow during the fourth quarter worth $26,000. Finally, Albion Financial Group UT boosted 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 worth $26,000 after acquiring an additional 136 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 3,696 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. This represents a 31.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 22,415 shares of company stock worth $2,210,933. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Macquarie Infrastructure dropped their target price on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Canaccord Genuity Group dropped their target price on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Barclays restated an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. HSBC dropped their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.71.

ServiceNow Price Performance

NOW stock opened at $90.56 on Friday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $100.89 and a two-hundred day simple moving average of $129.31. The firm has a market capitalization of $93.37 billion, a P/E ratio of 53.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.82.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the business earned $0.81 earnings per share. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi to improve real-time data activation across enterprise systems, strengthening its positioning as a platform for agentic AI and workflow automation. ServiceNow and Boomi partner for data activation
• Positive Sentiment: FedEx is deepening its ServiceNow relationship with a procurement integration, a sign that major enterprise customers are broadening use of the platform and could drive more recurring revenue. FedEx advances ServiceNow partnership with procurement integration
• Positive Sentiment: ServiceNow and Accenture launched an engineering program to scale agentic AI for enterprise clients, which supports the company’s AI growth narrative and suggests more commercialization of its platform. ServiceNow (NOW), Accenture Launch Engineering Program to Scale Agentic AI for Enterprises
• Positive Sentiment: Several articles highlighted ServiceNow as an attractive AI/software name, with commentary suggesting the recent sell-off may be overdone and that investors are focusing on the stock’s long-term AI upside. 1 Incredible Artificial Intelligence (AI) Stock to Buy After Its Post-Earnings Sell-Off
• Neutral Sentiment: Analyst and media coverage remains mixed but generally constructive, with pieces debating whether the market is underestimating the impact of AI on ServiceNow’s business. ServiceNow: The Market Is Misunderstanding The Effects Of AI
• Negative Sentiment: A bearish options trade and commentary about further downside show that some traders still expect weakness, reflecting lingering pressure on the stock after its post-earnings decline. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
• Negative Sentiment: An insider sale by Paul Fipps was disclosed, which can add to short-term caution even though it was small and made under a pre-arranged trading plan. SEC insider filing for Paul Fipps

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.