Grove Bank & Trust Sells 6,662 Shares of ServiceNow, Inc. $NOW

Grove Bank & Trust lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 77.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,985 shares of the information technology services provider’s stock after selling 6,662 shares during the period. Grove Bank & Trust’s holdings in ServiceNow were worth $197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares during the last quarter. State Street Corp grew its holdings in ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares during the period. Finally, Morgan Stanley raised its stake in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after acquiring an additional 17,514,679 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow launched six autonomous security products built on its Armis and Veza acquisitions, strengthening its position in enterprise cybersecurity and expanding its AI-driven product portfolio. ServiceNow debuts six autonomous security products built on Armis and Veza
• Positive Sentiment: New healthcare partnerships with Hyro and Autonomize AI are adding agentic AI, workflow automation, and fraud-prevention applications to the ServiceNow Store, supporting use-case expansion and potential recurring revenue growth. Hyro partners with ServiceNow
• Positive Sentiment: Analysts and investment commentators continue to describe NOW as an “enterprise AI bargain,” citing strong subscription growth, AI monetization, and a cybersecurity business that reportedly exceeds $1 billion and is growing rapidly. ServiceNow built a billion-dollar cybersecurity business
• Neutral Sentiment: ServiceNow named Simon Mouyal as chief marketing officer, an executive change that could support go-to-market efforts but has no immediate financial impact. ServiceNow names Simon Mouyal chief marketing officer
• Negative Sentiment: The main overhang is that NOW’s sizable year-to-date decline reflects investor concerns about AI competition, elevated valuation, and the broader software sell-off. These concerns are pressuring the stock even though operating growth remains solid. ServiceNow drops 23 percent year to date
• Negative Sentiment: ServiceNow’s planned reduction of approximately 1,000 jobs may improve efficiency and margins, but it also signals cost discipline and potential uncertainty around near-term growth, contributing to investor caution. ServiceNow cuts 1,000 jobs

Insider Activity

In other news, Director Anita M. Sands sold 16,445 shares of the firm’s 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 completion of the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,144 shares of company stock worth $1,730,097 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $117.10 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $121.08 billion, a P/E ratio of 73.19, a PEG ratio of 2.08 and a beta of 0.94. The stock’s 50 day moving average is $106.55 and its 200 day moving average is $105.80. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOW. Citizens Jmp reiterated a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Canaccord Genuity Group dropped their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research report on Friday, July 17th. Finally, TD Cowen reissued a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $143.39.

About ServiceNow

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.