Renaissance Technologies LLC Trims Holdings in ServiceNow, Inc. $NOW

Renaissance Technologies LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,206,018 shares of the information technology services provider’s stock after selling 125,959 shares during the quarter. Renaissance Technologies LLC’s holdings in ServiceNow were worth $126,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC boosted 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 valued at $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings 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. Blueline Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC increased its position in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC raised its stake in shares of ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the 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 sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the firm’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 completion of the sale, the director directly owned 30,090 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 19,144 shares of company stock worth $1,730,097. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on NOW shares. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a research report on Tuesday. DA Davidson set a $170.00 price objective on ServiceNow and gave the company a “buy” rating in a report on Monday. Truist Financial upped their price objective on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Stifel Nicolaus reduced their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Citic Securities decreased their target price on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.39.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $98.77 on Friday. The company has a market cap of $101.83 billion, a PE ratio of 61.73, a P/E/G ratio of 1.54 and a beta of 0.96. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $201.15. The firm has a 50-day simple moving average of $104.77 and a 200 day simple moving average of $107.70. The company has a quick ratio of 0.84, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the company posted $0.81 earnings per share. ServiceNow’s revenue was up 24.0% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.33 EPS for the current year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

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.