Gibbs Wealth Management Has $1.73 Million Stock Position in ServiceNow, Inc. $NOW

Gibbs Wealth Management raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 57.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,518 shares of the information technology services provider’s stock after buying an additional 6,050 shares during the quarter. Gibbs Wealth Management’s holdings in ServiceNow were worth $1,727,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NOW. Vanguard Group Inc. grew its stake in shares of ServiceNow by 404.5% in 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 period. State Street Corp raised its stake in ServiceNow by 406.6% during 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 buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in ServiceNow by 371.0% in the fourth 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 in the last quarter. Geode Capital Management LLC boosted its holdings in 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 worth $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley grew its stake in ServiceNow by 335.6% in 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 period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat Q2 earnings and revenue estimates, showing that demand for its workflow and AI products remains healthy.
• Positive Sentiment: The company raised its annual subscription revenue forecast again, which signals management confidence in continued growth.
• Positive Sentiment: AI-related momentum was a major highlight, with AI contract value topping $1 billion and multiple reports saying customers are adopting ServiceNow’s AI platform more aggressively.
• Positive Sentiment: Several analysts turned more constructive after earnings, including price-target increases and reaffirmed buy/overweight ratings.
• Neutral Sentiment: New partnerships and customer wins, including Experian, Leidos, TeamViewer, and Exclusive Networks, support the long-term platform story but are less likely to move the stock immediately. Article Title
• Negative Sentiment: Some investors remain worried that new AI tools from OpenAI and others could pressure legacy enterprise software, which has created volatility even after the earnings beat.

ServiceNow Trading Down 3.5%

NYSE:NOW opened at $92.15 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $95.00 billion, a price-to-earnings ratio of 57.59, a price-to-earnings-growth ratio of 1.60 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20. The firm has a 50-day moving average price of $104.70 and a two-hundred day moving average price of $107.77.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.63% and a net margin of 11.34%.The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction on Monday, May 18th. The stock was 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 of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, 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 ownership of the stock. 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. Over the last quarter, insiders have sold 19,144 shares of company stock valued at $1,730,097. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Argus decreased their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. Citic Securities reduced their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Weiss Ratings lowered shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. BMO Capital Markets boosted their price target on shares of ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, CLSA initiated coverage on shares of ServiceNow in a report on Monday. They set an “underperform” rating and a $72.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.39.

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.