ServiceNow, Inc. $NOW Shares Bought by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 22.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 49,164 shares of the information technology services provider’s stock after buying an additional 8,950 shares during the period. ServiceNow accounts for approximately 3.1% of Brown Shipley& Co Ltd’s portfolio, making the stock its 11th largest position. Brown Shipley& Co Ltd’s holdings in ServiceNow were worth $5,140,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NOW. Noble Wealth Management PBC increased its position in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 128 shares during the period. Millstone Evans Group LLC lifted its position 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 during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of ServiceNow by 540.0% in 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 purchasing an additional 135 shares during the period. Blueline Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $25,000. Finally, Measured Wealth Private Client Group LLC increased its holdings in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $104.04 on Friday. The firm has a market capitalization of $107.27 billion, a PE ratio of 62.00, a P/E/G ratio of 1.74 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 firm’s 50-day simple moving average is $103.73 and its 200 day simple moving average is $109.63. 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 (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, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm’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 transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: BNP Paribas and RBC Capital both raised their outlooks on ServiceNow, citing conservative guidance, improving demand, and strong channel feedback heading into Q2 results. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several recent notes say ServiceNow looks “constructive” going into earnings, with analysts pointing to conservative guidance and signs of strengthening federal and enterprise demand that could help the company beat expectations. ServiceNow Seen Well Positioned for Q2
• Neutral Sentiment: Investor attention is also on ServiceNow’s AI strategy, with commentary suggesting the market may be underestimating the company’s AI pivot and long-term growth runway. Missing ServiceNow’s AI Pivot Could Be Your Biggest Mistake
• Neutral Sentiment: Some valuation-focused articles argue that, despite the stock’s sharp decline over the past year, ServiceNow still screens as expensive, leaving investors split between attractive reset expectations and lingering premium valuation concerns. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?
• Negative Sentiment: One article notes that software stocks, including NOW, fell after IBM warned that some clients are shifting spending toward servers and cybersecurity, which could pressure parts of the software group. ADBE, CRM, NOW, MSFT: Software Stocks Fall After IBM Warns Clients Shifting Spending To Servers, Cybersecurity

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NOW. FBN Securities decreased their price target on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Benchmark boosted their price objective on shares of ServiceNow from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Oppenheimer restated an “outperform” rating and set a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research report on Wednesday. Argus lowered their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, Wells Fargo & Company dropped their price target on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.03.

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.