Procyon Advisors LLC Sells 8,672 Shares of ServiceNow, Inc. $NOW

Procyon Advisors LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 54.1% in the first quarter, HoldingsChannel reports. The fund owned 7,343 shares of the information technology services provider’s stock after selling 8,672 shares during the period. Procyon Advisors LLC’s holdings in ServiceNow were worth $768,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wealth Watch Advisors INC bought a new position in ServiceNow in the third quarter valued at $29,000. Kelleher Financial Advisors bought a new stake in ServiceNow during the 3rd quarter worth about $50,000. Pin Oak Investment Advisors Inc. lifted its position in ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after buying an additional 23 shares in the last quarter. Jupiter Wealth Management LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth about $154,000. Finally, Noble Wealth Management PBC boosted its stake in shares of ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 128 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow News Roundup

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

ServiceNow Price Performance

NYSE:NOW opened at $104.90 on Wednesday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The firm has a market capitalization of $108.15 billion, a price-to-earnings ratio of 62.51, a P/E/G ratio of 1.85 and a beta of 0.96. The stock’s 50 day moving average price is $103.20 and its two-hundred day moving average price is $110.31. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. KeyCorp set a $85.00 price objective on ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a report on Monday, June 29th. Barclays reissued an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. BMO Capital Markets decreased their price target on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Truist Financial boosted their price target on ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.60.

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 transaction of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

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.