NFSG Corp Cuts Stake in ServiceNow, Inc. $NOW

NFSG Corp reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 30.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,269 shares of the information technology services provider’s stock after selling 13,386 shares during the quarter. NFSG Corp’s holdings in ServiceNow were worth $3,269,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after purchasing an additional 34 shares during the last quarter. United Bank raised its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on NOW shares. Cantor Fitzgerald set a $130.00 price objective on ServiceNow in a report on Monday, June 15th. Wells Fargo & Company lowered their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Canaccord Genuity Group dropped their price target on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Oppenheimer reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Finally, Guggenheim raised shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $140.60.

ServiceNow Trading Down 5.7%

Shares of NYSE:NOW opened at $104.90 on Wednesday. The stock’s 50-day simple moving average is $103.20 and its two-hundred day simple moving average is $110.31. The stock has a market capitalization of $108.15 billion, a price-to-earnings ratio of 62.51, a PEG ratio of 1.85 and a beta of 0.96. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW) last released its quarterly earnings results 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 firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: UBS raised its price target on ServiceNow to $115 from $100, suggesting analysts still see upside and stable demand trends. Benzinga
• Positive Sentiment: New partner and government-contract announcements highlighted continued ecosystem momentum, including C1Secure’s ServiceNow-native FedRAMP 20x platform and Empower AI’s GSA enterprise IT award, both reinforcing ServiceNow’s role in AI-enabled workflow and public-sector modernization. Article Title Article Title
• Positive Sentiment: Recent commentary argues ServiceNow’s AI tools, including Now Assist, could become a stronger monetization driver as investors rotate toward application software. Article Title
• Neutral Sentiment: Several analyst-style articles debated ServiceNow’s valuation and long-term prospects, with some calling it attractive for the rebound and others saying it is not the cheapest name in software. Article Title Article Title
• Negative Sentiment: IBM’s revenue warning triggered a broader selloff in tech and dragged ServiceNow lower along with other enterprise software names like Accenture. Article Title Article Title

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by corporate insiders.

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.