Rathbones Group PLC Sells 57,755 Shares of ServiceNow, Inc. $NOW

Rathbones Group PLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 714,191 shares of the information technology services provider’s stock after selling 57,755 shares during the period. Rathbones Group PLC’s holdings in ServiceNow were worth $74,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Wealth Watch Advisors INC purchased a new position in ServiceNow in the 3rd quarter worth approximately $29,000. Kelleher Financial Advisors purchased a new stake in ServiceNow during the 3rd quarter valued at approximately $50,000. Pin Oak Investment Advisors Inc. raised its position in shares of ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 23 shares during the last quarter. Jupiter Wealth Management LLC purchased a new position in shares of ServiceNow in the second quarter worth $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.3%

Shares of NYSE NOW opened at $111.57 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $196.40. The firm’s 50-day moving average price is $105.64 and its 200-day moving average price is $106.18. The stock has a market capitalization of $115.36 billion, a price-to-earnings ratio of 69.73, a P/E/G ratio of 1.96 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm’s revenue was up 24.0% on a year-over-year basis. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 business’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 transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,144 shares of company stock valued at $1,730,097 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NOW. HSBC cut their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. BTIG Research reissued a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a report on Wednesday, July 22nd. Citizens Jmp restated a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. FBN Securities reduced their target price on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $143.39.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow raised its full-year revenue outlook, reinforcing confidence in continued demand for its workflow-automation platform and supporting the recent improvement in the stock. Why Shares of ServiceNow Stock Were Rising This Week
• Positive Sentiment: Second-quarter revenue rose approximately 24% year over year to about $4 billion, while adjusted earnings exceeded expectations. Management also highlighted more than $1 billion in AI-related contract value, suggesting AI agents are adding consumption-based revenue rather than simply reducing software-seat demand. ServiceNow Stock Opinions on Q2 Earnings Results
• Positive Sentiment: Analyst commentary remains constructive, with reported price targets materially above the recent trading level. One bullish analysis raised its fair-value estimate to $160, citing accelerating user retention, strong organic growth, pricing power in AI products and a long-term target of $30 billion to $32 billion in subscription revenue. ServiceNow User Retention Is Accelerating
• Neutral Sentiment: Dynamic Lifecycle Innovations launched an IT asset-disposition application on ServiceNow, adding another example of partners expanding the platform’s use cases. The announcement is strategically supportive but is unlikely to materially change near-term revenue expectations. Dynamic Lifecycle Innovations launches new ServiceNow app
• Negative Sentiment: ServiceNow could eliminate up to 1,000 positions this year as part of a post-acquisition “rightsizing” effort. The cuts may improve efficiency and margins, but reports of continuing layoffs create execution, morale and integration concerns for investors. Exclusive: ServiceNow to cut up to 1K jobs

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.