333,678 ServiceNow, Inc. $NOW Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its ServiceNow stake by 13.5%, selling 333,678 shares during the second quarter but retaining 2.14 million shares valued at approximately $212 million. Institutional investors collectively own 87.18% of the company.
• Analyst sentiment remains broadly positive: ServiceNow has a consensus “Moderate Buy” rating and a $147 average price target, with Deutsche Bank recently raising its target to $155.
• ServiceNow reported quarterly revenue of $3.99 billion, up 24% year over year, and earnings of $0.90 per share versus the $0.86 consensus estimate. However, the stock trades at a relatively high price-to-earnings ratio of 86.22.

Envestnet Asset Management Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,135,278 shares of the information technology services provider's stock after selling 333,678 shares during the quarter. Envestnet Asset Management Inc. owned 0.21% of ServiceNow worth $211,989,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NOW. BlackRock Inc. purchased a new position in ServiceNow in the 2nd quarter worth about $9,536,615,000. State Street Corp lifted its position in shares of ServiceNow by 2.0% in the 2nd quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider's stock valued at $4,868,514,000 after acquiring an additional 979,726 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in ServiceNow by 16.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider's stock worth $1,651,828,000 after purchasing an additional 2,362,606 shares during the period. Finally, Norges Bank acquired a new position in ServiceNow in the 4th quarter worth approximately $2,020,992,000. Institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup reissued a "market outperform" rating on shares of ServiceNow in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on ServiceNow from $135.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday. CLSA assumed coverage on ServiceNow in a report on Monday, July 20th. They set an "underperform" rating and a $72.00 price target on the stock. TD Cowen reissued a "buy" rating and set a $140.00 price target on shares of ServiceNow in a research report on Monday, August 17th. Finally, BMO Capital Markets increased their price objective on ServiceNow from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Chamberlain sold 2,700 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director directly owned 43,990 shares of the company's stock, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is currently owned by corporate insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Deutsche Bank raised its price target to $155 from $135 and maintained a “buy” rating. The new target implies approximately 11% upside from the referenced price, providing fresh analyst support for ServiceNow. TickerReport analyst upgrade
• Positive Sentiment: ServiceNow is benefiting from demand for AI-driven workflow automation. The company is replacing legacy CRM and workflow tools with its AI platform, potentially expanding customer relationships and increasing adoption across enterprise functions. Zacks AI platform report
• Positive Sentiment: ServiceNow EmployeeWorks is gaining implementation traction. Partner INRY deployed the employee-facing AI platform in six weeks and is rolling it out to clients, offering evidence that the product can be adopted quickly and broaden ServiceNow’s workflow footprint. Yahoo Finance EmployeeWorks report
• Neutral Sentiment: ServiceNow continues to attract significant investor and analyst attention. Articles citing favorable brokerage recommendations may support sentiment, but the reports also caution that consensus ratings can be overly optimistic and should not replace analysis of valuation and execution. Yahoo Finance analyst recommendations report
• Neutral Sentiment: ServiceNow compares favorably with other technology stocks on profitability. Figma is growing faster, but ServiceNow generated nearly $4.6 billion in annual free cash flow, highlighting its financial strength and mature enterprise business model. Motley Fool Figma versus ServiceNow comparison
• Negative Sentiment: NOW underperformed the broader market in the latest session. The decline suggests investors may be taking profits or weighing ServiceNow’s relatively rich valuation, with the stock’s reported price-to-earnings ratio above 86 despite strong revenue growth. Zacks ServiceNow market performance report

ServiceNow Price Performance

NOW opened at $137.96 on Friday. The stock has a fifty day moving average price of $125.94 and a 200 day moving average price of $110.70. 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 1 year low of $81.24 and a 1 year high of $192.97. The stock has a market cap of $142.65 billion, a price-to-earnings ratio of 86.22, a PEG ratio of 2.52 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business's revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. Analysts forecast that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.

About ServiceNow

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company's products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.

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