Tiger Global Management LLC Sells 626,890 Shares of ServiceNow, Inc. $NOW

Tiger Global Management LLC decreased its position in ServiceNow, Inc. (NYSE:NOW) by 29.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,500,000 shares of the information technology services provider’s stock after selling 626,890 shares during the quarter. ServiceNow accounts for 0.7% of Tiger Global Management LLC’s portfolio, making the stock its 27th biggest holding. Tiger Global Management LLC’s holdings in ServiceNow were worth $156,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Florida Financial Advisors LLC increased its position in ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in 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 valued at $473,000 after purchasing an additional 18 shares during the last quarter. American Trust grew its stake in shares of ServiceNow by 1.8% in the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after buying an additional 18 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after buying an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC increased its holdings in shares of ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after buying an additional 20 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Morgan Stanley set a $180.00 target price on shares of ServiceNow in a research report on Tuesday. Argus dropped their price target on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Wells Fargo & Company reduced their price objective on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Robert W. Baird upped their price objective on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Benchmark reaffirmed a “buy” rating on shares of ServiceNow in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.39.

Insider Buying and Selling at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the firm’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 completion of the sale, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 business’s stock in a transaction 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 transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,144 shares of company stock worth $1,730,097 over the last 90 days. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

ServiceNow stock opened at $98.77 on Friday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $201.15. The company has a current ratio of 0.70, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $104.77 and a 200-day moving average price of $107.70. The firm has a market capitalization of $101.83 billion, a PE ratio of 61.73, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 2.33 EPS for the current year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

ServiceNow 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.