ServiceNow, Inc. $NOW Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 118.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 304,399 shares of the information technology services provider’s stock after purchasing an additional 165,171 shares during the period. D.A. Davidson & CO.’s holdings in ServiceNow were worth $31,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Covenant Asset Management LLC increased its stake in ServiceNow by 169.2% during the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after buying an additional 13,114 shares in the last quarter. Norges Bank acquired a new stake in shares of ServiceNow in the fourth quarter worth approximately $2,020,992,000. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after acquiring an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NOW shares. HSBC decreased their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company reduced their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $145.00 price target (down from $163.00) on shares of ServiceNow in a research note on Wednesday, July 8th. Citigroup restated a “buy” rating and set a $156.00 price target (down from $158.00) on shares of ServiceNow in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.80.

Insider Activity

In other news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 firm’s stock in a transaction 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 sale, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

ServiceNow Stock Down 0.1%

Shares of NYSE:NOW opened at $104.78 on Thursday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. The stock has a market cap of $108.03 billion, a P/E ratio of 62.44, a PEG ratio of 1.74 and a beta of 0.96. The business has a fifty day moving average of $103.52 and a two-hundred day moving average of $109.98. 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 quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for 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%.The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. On average, research analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: BNP Paribas said ServiceNow has a “constructive setup” for Q2 results, pointing to conservative guidance and improving demand — including healthier federal demand — that could set up an earnings beat. ServiceNow offers ‘constructive setup’ going into Q2 results, BNP says
• Positive Sentiment: UBS raised its price target on NOW to $115 and kept a neutral rating, saying demand trends appear stable and implying some upside from current levels. UBS price target raise
• Positive Sentiment: Several commentary pieces argue the market may be too pessimistic on ServiceNow, with some analysts framing AI as an opportunity rather than a threat and noting the company is raising its AI monetization targets. ServiceNow (NOW) Is Raising Its AI Targets As Investors Shift Toward Software
• Neutral Sentiment: Some pre-earnings notes say ServiceNow may not have the “right combination” for a clear beat, so expectations remain cautious heading into next week’s report. ServiceNow (NOW) Earnings Expected to Grow
• Negative Sentiment: NOW was also dragged lower by a broader software selloff after IBM warned that clients are shifting spending toward servers and cybersecurity, which raised concerns across enterprise software stocks. IBM Plunge Triggers Tech Stock Selloff After Revenue Miss Warning

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.