Citizens Financial Group Inc. RI Acquires Shares of 93,420 ServiceNow, Inc. $NOW

Citizens Financial Group Inc. RI bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 93,420 shares of the information technology services provider’s stock, valued at approximately $9,275,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew 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 worth $2,919,000 after buying an additional 30 shares during the last quarter. Sivia Capital Partners LLC increased its position in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after buying an additional 34 shares during the period. United Bank lifted its stake in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after buying an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of ServiceNow by 2.2% in 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 acquiring an additional 42 shares during the period. Finally, Nebula Research & Development LLC boosted its holdings in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after acquiring an additional 609 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

ServiceNow stock opened at $117.70 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50 day simple moving average of $107.15 and a 200-day simple moving average of $105.49. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The stock has a market capitalization of $121.70 billion, a PE ratio of 73.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period last year, the firm posted $0.81 EPS. Equities analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOW. BTIG Research reaffirmed a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a report on Wednesday, July 22nd. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. Wells Fargo & Company reissued an “overweight” rating and set a $175.00 price objective (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. TD Cowen restated a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Monday. Finally, Robert W. Baird lifted their price objective on shares of ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $143.76.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cybersecurity expansion supports long-term growth. ServiceNow’s planned $7.75 billion acquisition of Armis would broaden its AI-powered security platform and strengthen its preventive cyber-defense offerings. The appointment of former Armis executive Simon Mouyal as chief marketing officer also signals an increased focus on security and go-to-market execution. ServiceNow Is Spending $7.75 Billion On AI Security
• Positive Sentiment: Analyst support remains firm. TD Cowen reaffirmed its Buy rating and assigned a $140 price target, implying meaningful upside from the referenced market level. Analysts cited ServiceNow’s expanding security platform, AI workflow opportunities and recurring-revenue model. ServiceNow Earns Buy Rating
• Positive Sentiment: Fundamentals and AI momentum continue to attract dip buyers. Recent commentary points to roughly 24% year-over-year revenue growth and a substantial rebound from the stock’s lows. Some investors view support near the 200-day moving average as an opportunity if the company’s growth remains intact. NOW Stock Has Rebounded Over 54%
• Neutral Sentiment: Institutional positioning is mixed. JPMorgan added a large position, while T. Rowe Price, Wellington Management and several other firms reduced holdings. The split suggests continued disagreement about valuation and the pace of the recovery.
• Neutral Sentiment: A director sold shares under a pre-arranged Rule 10b5-1 plan. Paul Edward Chamberlain sold 1,500 shares worth approximately $188,400, reducing his holdings by 3.11%. Because the transaction was scheduled in advance, it provides limited evidence of a change in the company’s outlook. SEC Insider Filing
• Negative Sentiment: Valuation remains a major concern. Even after a reported 30.5% decline over the past year, commentary argues that ServiceNow still does not look inexpensive, leaving the stock vulnerable to further pressure if growth expectations soften. ServiceNow Stock Still Looks Expensive
• Negative Sentiment: Broad software-sector weakness is weighing on the shares. Investors have been rotating toward semiconductor and AI-hardware stocks, pressuring software names including ServiceNow, Adobe and Intuit. The sizable Armis acquisition also introduces execution, integration and spending risks.

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.