ServiceNow, Inc. $NOW Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 5.9% during the 3rd quarter, Holdings Channel reports. The fund owned 182,881 shares of the information technology services provider’s stock after selling 11,505 shares during the period. Sterling Capital Management LLC’s holdings in ServiceNow were worth $24,508,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NOW. WASHINGTON TRUST Co purchased a new stake in ServiceNow during the 3rd quarter worth about $11,154,000. Washington Trust Advisors Inc. raised its stake in ServiceNow by 6,772.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 1,512 shares of the information technology services provider’s stock valued at $203,000 after purchasing an additional 1,490 shares during the last quarter. XXI Wealth LLC purchased a new position in ServiceNow in the 3rd quarter valued at about $482,000. Private Wealth Partners LLC purchased a new position in ServiceNow in the 3rd quarter valued at about $251,000. Finally, Insight Advisors LLC PA purchased a new position in ServiceNow in the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America lifted their price target on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Zacks Research downgraded shares of ServiceNow from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. TD Cowen raised their target price on shares of ServiceNow from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 15th. Evercore restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada boosted their price target on ServiceNow from $130.00 to $176.00 and gave the company an “outperform” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.10.

ServiceNow Trading Up 1.5%

Shares of NOW traded up $2.29 during mid-day trading on Friday, hitting $159.29. The company had a trading volume of 11,079,096 shares, compared to its average volume of 11,102,899. The business’s 50-day simple moving average is $137.87 and its 200-day simple moving average is $115.39. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $192.97. The stock has a market cap of $164.71 billion, a PE ratio of 99.56, a P/E/G ratio of 2.88 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 2.22 earnings per share for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
• Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
• Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
• Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
• Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
• Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 7,847 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares in the company, valued at $4,145,796. This represents a 20.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the transaction, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,081 shares of company stock worth $1,937,904 in the last quarter. 0.34% of the stock is owned by insiders.

ServiceNow Company Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.