20,000 Shares in ServiceNow, Inc. $NOW Acquired by Telligent Fund LP

Telligent Fund LP acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the first quarter, HoldingsChannel reports. The institutional investor acquired 20,000 shares of the information technology services provider’s stock, valued at approximately $2,091,000. ServiceNow accounts for approximately 2.2% of Telligent Fund LP’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors have also modified their holdings of NOW. Brighton Jones LLC grew its position in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 30 shares during the last quarter. Sivia Capital Partners LLC raised its stake in ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after acquiring an additional 34 shares in the last quarter. United Bank lifted its position in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after acquiring an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after acquiring an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after acquiring an additional 609 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 2.5%

NYSE NOW opened at $102.04 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $105.20 billion, a PE ratio of 60.81, a P/E/G ratio of 1.75 and a beta of 0.96. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20. The firm’s fifty day moving average is $104.50 and its two-hundred day moving average is $108.56.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jefferies expects ServiceNow to deliver solid second-quarter results, with subscription revenue and cRPO likely coming in above guidance. The firm also sees a possible raise to full-year subscription revenue guidance, supported by strong execution, early contract renewals, and AI-related demand. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 and kept an overweight rating, signaling confidence in upside if earnings and guidance remain strong. Article Title
• Positive Sentiment: Morgan Stanley said software sentiment has become “too negative” and named top picks in the sector, reinforcing the idea that high-quality software names like ServiceNow could rebound if the market mood improves. Article Title
• Neutral Sentiment: ServiceNow is in the spotlight ahead of earnings, with mixed analyst views and a bearish technical setup adding uncertainty into the report. Article Title
• Neutral Sentiment: ServiceNow is expected to report after the market close on July 22, and several articles frame the stock as a high-stakes earnings setup rather than a clear fundamental change. Article Title
• Negative Sentiment: CLSA initiated coverage with a bearish view, which has added pressure ahead of earnings and contributed to cautious investor sentiment around the name. Article Title
• Negative Sentiment: A separate security report said a critical ServiceNow code-execution flaw is being exploited in attacks, which could create near-term reputational and security concerns for the company. Article Title

Insider Buying and Selling

In related 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 transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 company’s stock in a transaction that occurred 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 sale, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NOW. Benchmark reiterated a “buy” rating on shares of ServiceNow in a research report on Friday. JPMorgan Chase & Co. reduced their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Argus decreased their target price on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Wolfe Research set a $125.00 price target on ServiceNow in a research note on Thursday, April 23rd. Finally, Truist Financial lifted their price target on ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $139.12.

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.