Bastion Asset Management Inc. Acquires Shares of 15,901 ServiceNow, Inc. $NOW

Bastion Asset Management Inc. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 15,901 shares of the information technology services provider’s stock, valued at approximately $1,643,000.

Other large investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC increased its stake 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 valued at $25,000 after buying an additional 128 shares in the last quarter. Millstone Evans Group LLC grew its holdings in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new position in shares of ServiceNow during the 4th quarter worth about $25,000. Finally, Measured Wealth Private Client Group LLC increased its stake in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’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 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 SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is currently owned by company insiders.

ServiceNow Stock Down 0.7%

NOW stock opened at $104.04 on Friday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. 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 stock has a market capitalization of $107.27 billion, a P/E ratio of 62.00, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The firm has a 50-day moving average price of $103.73 and a 200-day moving average price of $109.63.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: BNP Paribas and RBC Capital both raised their outlooks on ServiceNow, citing conservative guidance, improving demand, and strong channel feedback heading into Q2 results. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several recent notes say ServiceNow looks “constructive” going into earnings, with analysts pointing to conservative guidance and signs of strengthening federal and enterprise demand that could help the company beat expectations. ServiceNow Seen Well Positioned for Q2
• Neutral Sentiment: Investor attention is also on ServiceNow’s AI strategy, with commentary suggesting the market may be underestimating the company’s AI pivot and long-term growth runway. Missing ServiceNow’s AI Pivot Could Be Your Biggest Mistake
• Neutral Sentiment: Some valuation-focused articles argue that, despite the stock’s sharp decline over the past year, ServiceNow still screens as expensive, leaving investors split between attractive reset expectations and lingering premium valuation concerns. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?
• Negative Sentiment: One article notes that software stocks, including NOW, fell after IBM warned that some clients are shifting spending toward servers and cybersecurity, which could pressure parts of the software group. ADBE, CRM, NOW, MSFT: Software Stocks Fall After IBM Warns Clients Shifting Spending To Servers, Cybersecurity

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOW. Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday, July 1st. UBS Group boosted their price target on shares of ServiceNow from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wolfe Research set a $125.00 price target on ServiceNow in a research note on Thursday, April 23rd. Bank of America began coverage on shares of ServiceNow in a research note on Monday, May 18th. They set a “buy” rating and a $130.00 price objective on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $141.03.

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.