Groupama Asset Managment Sells 24,865 Shares of ServiceNow, Inc. $NOW

Groupama Asset Managment trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 39.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,385 shares of the information technology services provider’s stock after selling 24,865 shares during the period. Groupama Asset Managment’s holdings in ServiceNow were worth $3,909,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares during the period. State Street Corp raised its position in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 371.0% in the fourth 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 boosted its stake in shares of ServiceNow by 404.8% during the 4th 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 acquiring an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after acquiring an additional 17,514,679 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Trending Headlines about ServiceNow

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

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,144 shares of company stock worth $1,730,097 in the last three months. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Stifel Nicolaus lowered their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Citigroup reissued a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Cantor Fitzgerald upped their price target on ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of ServiceNow in a research note on Thursday, July 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 given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $143.39.

ServiceNow Trading Up 1.4%

Shares of ServiceNow stock opened at $111.57 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $196.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $115.36 billion, a P/E ratio of 69.73, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a fifty day moving average of $105.64 and a 200 day moving average of $106.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating 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 business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 24.0% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 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.