Frank Rimerman Advisors LLC Sells 6,900 Shares of ServiceNow, Inc. $NOW

Frank Rimerman Advisors LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 38.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,039 shares of the information technology services provider’s stock after selling 6,900 shares during the period. Frank Rimerman Advisors LLC’s holdings in ServiceNow were worth $1,154,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC grew its holdings in shares of ServiceNow by 110.8% during the first quarter. Axxcess Wealth Management LLC now owns 7,099 shares of the information technology services provider’s stock worth $742,000 after buying an additional 3,731 shares in the last quarter. Childress Capital Advisors LLC lifted its stake in ServiceNow by 12.3% in the 1st quarter. Childress Capital Advisors LLC now owns 4,828 shares of the information technology services provider’s stock valued at $505,000 after acquiring an additional 530 shares in the last quarter. Flatrock Wealth Partners LLC bought a new stake in ServiceNow in the 1st quarter valued at approximately $226,000. Montag A & Associates Inc. boosted its position in ServiceNow by 3,264.2% during the 1st quarter. Montag A & Associates Inc. now owns 28,259 shares of the information technology services provider’s stock worth $2,954,000 after acquiring an additional 27,419 shares during the last quarter. Finally, Renasant Bank boosted its position in ServiceNow by 11.3% during the 1st quarter. Renasant Bank now owns 4,145 shares of the information technology services provider’s stock worth $433,000 after acquiring an additional 420 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Truist Financial raised its price target on ServiceNow to $130 from $120 and reiterated a buy rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Several recent articles highlighted ServiceNow as a strong AI/software name, with commentary suggesting the market is becoming more constructive on the company’s long-term growth story.
• Positive Sentiment: An article on “final trades” and other media coverage kept ServiceNow in the spotlight, reinforcing investor interest and supporting sentiment around the stock.
• Neutral Sentiment: ServiceNow was also mentioned in broader cloud and software market discussions, including an AI trade rotation away from semiconductors and toward software, which may be helping the stock but does not reflect company-specific news. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Other coverage noted that ServiceNow is consolidating after recent moves, suggesting traders are digesting the stock’s valuation and AI expectations rather than reacting to a single new catalyst. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Some recent pieces continued to question the stock’s performance this year and pointed to investor concern about the company’s future growth, which may cap enthusiasm.

ServiceNow Trading Up 1.0%

Shares of NYSE:NOW opened at $108.88 on Friday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. 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 company has a market capitalization of $112.26 billion, a P/E ratio of 64.89, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a 50-day simple moving average of $102.11 and a 200 day simple moving average of $111.29.

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, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NOW. BTIG Research reiterated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a report on Monday, June 29th. Robert W. Baird decreased their target price on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lowered their price target on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Mizuho cut their price target on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.47.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow 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 transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

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.