Cardano Risk Management B.V. Reduces Stake in ServiceNow, Inc. $NOW

Cardano Risk Management B.V. lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 90.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 453,666 shares of the information technology services provider’s stock after selling 4,463,794 shares during the period. Cardano Risk Management B.V.’s holdings in ServiceNow were worth $47,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heritage Wealth Management Inc. acquired a new stake in shares of ServiceNow in the first quarter worth $521,000. Dock Street Asset Management Inc. lifted its position in ServiceNow by 25.7% during the first quarter. Dock Street Asset Management Inc. now owns 286,250 shares of the information technology services provider’s stock valued at $29,927,000 after purchasing an additional 58,588 shares during the period. BTC Capital Management Inc. lifted its position in ServiceNow by 36.6% during the first quarter. BTC Capital Management Inc. now owns 15,840 shares of the information technology services provider’s stock valued at $1,655,000 after purchasing an additional 4,247 shares during the period. Hilton Head Capital Partners LLC boosted its holdings in ServiceNow by 39.2% in the first quarter. Hilton Head Capital Partners LLC now owns 710 shares of the information technology services provider’s stock valued at $74,000 after purchasing an additional 200 shares during the last quarter. Finally, Lord & Richards Wealth Management LLC boosted its holdings in ServiceNow by 8.4% in the first quarter. Lord & Richards Wealth Management LLC now owns 8,491 shares of the information technology services provider’s stock valued at $888,000 after purchasing an additional 655 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 2.3%

NOW stock opened at $93.73 on Thursday. The company’s 50-day simple moving average is $99.98 and its 200-day simple moving average is $115.96. 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, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The firm has a market cap of $96.64 billion, a P/E ratio of 55.86, a PEG ratio of 1.60 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NOW shares. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Bank of America began coverage on ServiceNow in a research note on Monday, May 18th. They issued a “buy” rating and a $130.00 target price on the stock. Wolfe Research set a $125.00 target price on ServiceNow in a report on Thursday, April 23rd. DA Davidson reiterated a “buy” rating and set a $190.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, Capital One Financial boosted their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analysts remain constructive on ServiceNow’s long-term outlook, with multiple reports highlighting upside potential and calling the recent pullback an opportunity to buy. Wall Street expects ServiceNow stock to gain 52%, despite AI threat
• Positive Sentiment: Raymond James said ServiceNow may have pricing power that could drive faster revenue growth and support high-margin expansion. Raymond James sees ServiceNow pricing power driving high-margin growth
• Positive Sentiment: ServiceNow continues to expand its AI and workflow ecosystem through new partnerships in AI governance, public sector modernization, and communications billing, which could support future growth. ServiceNow (NOW) Expands AI Governance And Public Sector Reach With New Partnerships
• Neutral Sentiment: The stock has been drawing investor attention recently, with several articles noting increased trading interest and market focus, but without a clear new catalyst. ServiceNow, Inc. (NOW) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Recent coverage also compared ServiceNow with other enterprise software names and discussed how investors are positioning around AI-led business productivity platforms. ScienceLogic Announces New Skylar AI Updates and Recognition as a Leader in IDC MarketScape Reports
• Negative Sentiment: Some investors remain focused on AI concerns, which are being cited as a reason for weakness even after ServiceNow’s solid earnings performance. AI Concerns Hurt ServiceNow (NOW) Despite Strong Earnings
• Negative Sentiment: The latest trading updates show ServiceNow falling more than the broader market, reflecting ongoing selling pressure in software stocks. ServiceNow (NOW) Dips More Than Broader Market: What You Should Know

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.