ServiceNow, Inc. $NOW Shares Sold by Avalon Trust Co

Avalon Trust Co reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 98.7% during the 1st quarter, Holdings Channel reports. The fund owned 1,426 shares of the information technology services provider’s stock after selling 108,509 shares during the period. Avalon Trust Co’s holdings in ServiceNow were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of ServiceNow by 3.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 608,412 shares of the information technology services provider’s stock worth $63,299,000 after buying an additional 17,729 shares during the period. Independent Financial Group LLC purchased a new position in ServiceNow in the 1st quarter worth approximately $1,055,000. Prosperity Consulting Group LLC raised its holdings in shares of ServiceNow by 42.5% during the 1st quarter. Prosperity Consulting Group LLC now owns 8,179 shares of the information technology services provider’s stock worth $855,000 after acquiring an additional 2,439 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $17,909,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in ServiceNow during the first quarter worth $7,967,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last quarter. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Down 0.6%

NOW opened at $103.40 on Friday. The firm has a 50 day moving average price of $103.97 and a 200 day moving average price of $109.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $210.20. The company has a market cap of $106.60 billion, a PE ratio of 61.62, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on NOW. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Wednesday, July 1st. Capital One Financial lifted their price objective on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research note on Friday. KeyCorp set a $85.00 price target on shares of ServiceNow and gave the company an “underweight” rating in a research report on Thursday, April 23rd. Finally, Wolfe Research set a $125.00 target price on ServiceNow in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.03.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

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.