TIAA Trust National Association Boosts Position in ServiceNow, Inc. $NOW

TIAA Trust National Association boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 351.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 188,404 shares of the information technology services provider’s stock after buying an additional 146,659 shares during the quarter. TIAA Trust National Association’s holdings in ServiceNow were worth $28,862,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. IAG Wealth Partners LLC raised its stake 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 valued at $25,000 after buying an additional 18 shares during the last quarter. Noble Wealth Management PBC grew its holdings in ServiceNow by 400.0% during the fourth 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 during the period. Millstone Evans Group LLC raised its position in ServiceNow by 400.0% during the fourth 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 in the last quarter. CBIZ Investment Advisory Services LLC raised its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new position in ServiceNow during the fourth quarter valued at approximately $25,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Down 6.5%

ServiceNow stock opened at $106.80 on Wednesday. The stock has a market capitalization of $110.11 billion, a PE ratio of 63.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The business has a 50 day simple moving average of $99.84 and a 200-day simple moving average of $120.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The business 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 business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. On average, analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and NICE launched a joint AI solution that connects real-time customer engagement with enterprise workflow execution, potentially expanding ServiceNow’s role in automated service fulfillment and improving the appeal of its AI-driven platform. ServiceNow NICE AI Alliance Links Customer Engagement To Core Workflows
• Positive Sentiment: Industry commentary from Thoma Bravo’s founder argued that fears of an AI-driven “SaaSpocalypse” are fading, with AI instead seen as a tailwind for software companies like ServiceNow. SaaSpocalypse is over, Thoma Bravo founder says
• Neutral Sentiment: Market coverage noted that ServiceNow was outperforming the broader market in prior sessions, but recent volatility suggests investors are questioning whether the rebound in beaten-down enterprise software can continue. ServiceNow (NOW) Exceeds Market Returns: Some Facts to Consider
• Negative Sentiment: Shares are falling as investors move to a risk-off stance, and sector weakness in high-growth technology is pressuring enterprise software stocks more broadly. ServiceNow Shares Are Sliding Tuesday: What’s Going On?
• Negative Sentiment: Broader market weakness, especially a sharp drop in chip and Nasdaq names, is weighing on sentiment and spilling over into stocks like ServiceNow. Broader Market Settles Lower as Chip Stocks Sink

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. Mizuho reduced their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Citic Securities reduced their price target on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Benchmark initiated coverage on ServiceNow in a research report on Wednesday, April 1st. They set a “buy” rating and a $125.00 price target for the company. Bank of America initiated coverage on ServiceNow in a research report on Monday, May 18th. They set a “buy” rating and a $130.00 price target for the company. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $236.00 price target (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $141.85.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

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.