ServiceNow, Inc. $NOW Shares Acquired by Siren L.L.C.

Siren L.L.C. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 144.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,090 shares of the information technology services provider’s stock after acquiring an additional 51,460 shares during the quarter. Siren L.L.C.’s holdings in ServiceNow were worth $9,105,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC lifted its position in shares of 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 buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in ServiceNow by 540.0% in 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 purchased a new stake in ServiceNow in the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC raised its position in ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new position in ServiceNow during the fourth quarter worth $25,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

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 transaction of $103,238.48. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,144 shares of company stock worth $1,730,097 in the last ninety days. Insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $92.15 on Friday. The firm has a 50-day simple moving average of $104.70 and a 200-day simple moving average of $107.77. 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 stock has a market capitalization of $95.00 billion, a price-to-earnings ratio of 57.59, a price-to-earnings-growth ratio of 1.60 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.63%. ServiceNow’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat Q2 earnings and revenue estimates, showing that demand for its workflow and AI products remains healthy.
• Positive Sentiment: The company raised its annual subscription revenue forecast again, which signals management confidence in continued growth.
• Positive Sentiment: AI-related momentum was a major highlight, with AI contract value topping $1 billion and multiple reports saying customers are adopting ServiceNow’s AI platform more aggressively.
• Positive Sentiment: Several analysts turned more constructive after earnings, including price-target increases and reaffirmed buy/overweight ratings.
• Neutral Sentiment: New partnerships and customer wins, including Experian, Leidos, TeamViewer, and Exclusive Networks, support the long-term platform story but are less likely to move the stock immediately. Article Title
• Negative Sentiment: Some investors remain worried that new AI tools from OpenAI and others could pressure legacy enterprise software, which has created volatility even after the earnings beat.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. FBN Securities dropped their target price on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Citigroup restated a “market outperform” rating on shares of ServiceNow in a research report on Thursday. Bank of America began coverage on ServiceNow in a report on Monday, May 18th. They issued a “buy” rating and a $130.00 price objective on the stock. Wells Fargo & Company cut their price objective on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Finally, Argus cut their price objective on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.39.

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.