Brown Shipley& Co Ltd Raises Stake in ServiceNow, Inc. $NOW

Brown Shipley& Co Ltd grew its stake in ServiceNow, Inc. (NYSE:NOW) by 22.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,164 shares of the information technology services provider’s stock after acquiring an additional 8,950 shares during the quarter. ServiceNow comprises approximately 3.1% of Brown Shipley& Co Ltd’s investment portfolio, making the stock its 11th biggest position. Brown Shipley& Co Ltd’s holdings in ServiceNow were worth $5,140,000 at the end of the most recent reporting period.

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

ServiceNow News Summary

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 Analysts Forecast Growth

Several research analysts have commented on NOW shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of ServiceNow in a report on Monday, June 29th. Citigroup restated a “buy” rating and issued a $156.00 price objective (down from $158.00) on shares of ServiceNow in a report on Wednesday. Stifel Nicolaus lowered their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Bank of America initiated coverage on ServiceNow in a report on Monday, May 18th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Truist Financial raised their price target on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.03.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value 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. The trade was a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last quarter. Company insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 0.7%

NYSE NOW opened at $104.04 on Friday. The firm’s fifty day moving average price is $103.73 and its 200 day moving average price is $109.63. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $107.27 billion, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 1.74 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 for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

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.