Anita Sands Sells 16,445 Shares of ServiceNow (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) Director Anita Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ServiceNow Stock Down 1.7%

Shares of NYSE:NOW opened at $101.71 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $99.72 and a two-hundred day moving average of $127.48. The stock has a market cap of $104.86 billion, a P/E ratio of 60.61, a PEG ratio of 1.76 and a beta of 0.82. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 EPS. On average, research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On ServiceNow

Hedge funds have recently modified their holdings of the business. IAG Wealth Partners LLC grew its holdings in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC lifted its stake in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted its stake in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC acquired a new position in ServiceNow during the 4th quarter worth about $25,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. UBS Group set a $150.00 target price on ServiceNow in a report on Thursday, April 23rd. KeyCorp set a $85.00 target price on ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. BMO Capital Markets dropped their target price on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $121.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.89.

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.