ServiceNow, Inc. $NOW Shares Sold by Modern Wealth Management LLC

Modern Wealth Management LLC decreased its position in ServiceNow, Inc. (NYSE:NOW) by 76.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,664 shares of the information technology services provider’s stock after selling 12,054 shares during the period. Modern Wealth Management LLC’s holdings in ServiceNow were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. State Street Corp raised its stake in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its stake in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Software-sector rebound: ServiceNow rose alongside Salesforce and Workday as investors shifted from chip stocks toward enterprise software, viewing established software vendors as potential beneficiaries of the AI spending cycle. Software stocks rebound on AI rotation
• Positive Sentiment: Growth and guidance support: Recent coverage points to accelerating revenue, subscription revenue growth of roughly 25%, and management raising its full-year outlook. ServiceNow’s latest quarterly results also exceeded consensus estimates for earnings and revenue, reinforcing the fundamental case for the stock. ServiceNow revenue growth is accelerating
• Positive Sentiment: AI partnerships and adoption: ServiceNow and TeamViewer agreed to a multiyear partnership linking TeamViewer’s remote-connectivity tools with the ServiceNow AI Platform. Experian is also expanding its use of the platform for AI-driven workflows, supporting the company’s positioning as an enterprise AI control center. ServiceNow partners with TeamViewer and expands Experian deployment
• Positive Sentiment: Analyst and valuation optimism: Coverage includes an analyst upgrade and a broadly Buy-rated brokerage consensus. Some investors argue that the year’s selloff has left NOW attractively valued relative to its AI-led growth and cross-selling potential. ServiceNow stock rises after analyst upgrade
• Neutral Sentiment: Although analyst recommendations remain favorable, coverage cautions that consensus ratings can be overly optimistic and should not be treated as a standalone buy signal. Broker recommendations for ServiceNow
• Negative Sentiment: AI-disruption concerns remain a valuation and execution risk. ServiceNow has already suffered a substantial yearly decline, and its premium multiple leaves the stock sensitive to any slowdown in growth or disappointment from agentic-AI initiatives.

Insider Buying and Selling

In other ServiceNow 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 transaction of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 19,144 shares of company stock valued at $1,730,097. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

NOW opened at $105.71 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market cap of $109.31 billion, a PE ratio of 66.07, a P/E/G ratio of 1.67 and a beta of 0.96. The business has a fifty day simple moving average of $104.81 and a 200-day simple moving average of $107.12. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $201.15.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NOW. Jefferies Financial Group restated a “buy” rating and set a $140.00 price objective (up from $135.00) on shares of ServiceNow in a research note on Thursday. KeyCorp reissued an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. CLSA began coverage on shares of ServiceNow in a research report on Monday, July 20th. They set an “underperform” rating and a $72.00 price target on the stock. Evercore reaffirmed an “outperform” rating and issued a $160.00 price target on shares of ServiceNow in a research note on Thursday. Finally, Stifel Nicolaus decreased their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.39.

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.