Mathes Company Inc. Grows Stock Position in ServiceNow, Inc. $NOW

Mathes Company Inc. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 225.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,800 shares of the information technology services provider’s stock after purchasing an additional 6,100 shares during the quarter. Mathes Company Inc.’s holdings in ServiceNow were worth $920,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Covenant Asset Management LLC raised its holdings in shares of ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock valued at $3,196,000 after buying an additional 13,114 shares during the period. Norges Bank purchased a new position in ServiceNow during the 4th quarter valued at about $2,020,992,000. World Investment Advisors grew its position in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after acquiring an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC increased its stake in ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Down 2.5%

Shares of NYSE NOW opened at $102.04 on Wednesday. The business has a 50-day moving average price of $104.50 and a 200 day moving average price of $108.56. The stock has a market cap of $105.20 billion, a PE ratio of 60.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. 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 $210.20.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates 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 revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jefferies expects ServiceNow to deliver solid second-quarter results, with subscription revenue and cRPO likely coming in above guidance. The firm also sees a possible raise to full-year subscription revenue guidance, supported by strong execution, early contract renewals, and AI-related demand. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 and kept an overweight rating, signaling confidence in upside if earnings and guidance remain strong. Article Title
• Positive Sentiment: Morgan Stanley said software sentiment has become “too negative” and named top picks in the sector, reinforcing the idea that high-quality software names like ServiceNow could rebound if the market mood improves. Article Title
• Neutral Sentiment: ServiceNow is in the spotlight ahead of earnings, with mixed analyst views and a bearish technical setup adding uncertainty into the report. Article Title
• Neutral Sentiment: ServiceNow is expected to report after the market close on July 22, and several articles frame the stock as a high-stakes earnings setup rather than a clear fundamental change. Article Title
• Negative Sentiment: CLSA initiated coverage with a bearish view, which has added pressure ahead of earnings and contributed to cautious investor sentiment around the name. Article Title
• Negative Sentiment: A separate security report said a critical ServiceNow code-execution flaw is being exploited in attacks, which could create near-term reputational and security concerns for the company. Article Title

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated 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 sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NOW shares. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. JPMorgan Chase & Co. cut their price target on ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price target (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, BTIG Research reiterated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.12.

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.