Pittenger & Anderson Inc. Trims Holdings in ServiceNow, Inc. $NOW

Pittenger & Anderson Inc. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 99.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 790 shares of the information technology services provider’s stock after selling 152,776 shares during the quarter. Pittenger & Anderson Inc.’s holdings in ServiceNow were worth $83,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Florida Financial Advisors LLC lifted its holdings in ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after buying an additional 14 shares in the last quarter. First Affirmative Financial Network grew its stake in ServiceNow by 1.7% in the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after acquiring an additional 15 shares in the last quarter. Opes Wealth Management LLC grew its stake in ServiceNow by 3.5% in the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock worth $467,000 after acquiring an additional 17 shares in the last quarter. Clark Capital Management Group Inc. increased its position in shares of ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after acquiring an additional 18 shares during the period. Finally, American Trust increased its position in shares of ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after acquiring an additional 18 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW stock opened at $107.81 on Monday. The firm has a market cap of $111.16 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 1.79 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 company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $102.49 and its 200 day moving average is $110.95.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NOW shares. Capital One Financial lifted their price target on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. KeyCorp set a $85.00 price objective on ServiceNow and gave the stock an “underweight” rating in a research note on Thursday, April 23rd. BNP Paribas Exane upgraded ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Monday, March 16th. Robert W. Baird decreased their target price on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, FBN Securities lowered their target price on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.47.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by 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.