Sanctuary Advisors LLC Sells 9,689 Shares of ServiceNow, Inc. $NOW

Sanctuary Advisors LLC reduced its position in ServiceNow, Inc. (NYSE:NOW) by 6.0% in the 1st quarter, Holdings Channel reports. The firm owned 152,033 shares of the information technology services provider’s stock after selling 9,689 shares during the quarter. Sanctuary Advisors LLC’s holdings in ServiceNow were worth $15,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sigma Planning Corp raised its stake in shares of ServiceNow by 16.8% in the 1st quarter. Sigma Planning Corp now owns 18,765 shares of the information technology services provider’s stock valued at $1,962,000 after buying an additional 2,694 shares in the last quarter. Cornerstone Advisory LLC raised its position in ServiceNow by 43.4% in the first quarter. Cornerstone Advisory LLC now owns 2,210 shares of the information technology services provider’s stock worth $231,000 after purchasing an additional 669 shares in the last quarter. 1ST Source Bank acquired a new position in ServiceNow in the first quarter worth about $1,339,000. Checchi Capital Advisers LLC lifted its stake in ServiceNow by 9.3% during the first quarter. Checchi Capital Advisers LLC now owns 6,212 shares of the information technology services provider’s stock worth $649,000 after purchasing an additional 530 shares during the period. Finally, First National Bank of Hutchinson bought a new position in ServiceNow during the first quarter worth about $495,000. Institutional investors own 87.18% of the company’s stock.

More ServiceNow News

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

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. 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 for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of ServiceNow in a report on Thursday. UBS Group upped their target price on shares of ServiceNow from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays reissued an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Finally, TD Cowen reaffirmed a “buy” rating and set a $140.00 price objective on shares of 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 assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.03.

ServiceNow Trading Down 0.7%

Shares of NYSE NOW opened at $104.04 on Friday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20. The company has a 50-day moving average of $103.73 and a two-hundred day moving average of $109.63. The company has a market cap of $107.27 billion, a PE ratio of 62.00, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

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

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.