7,059 ServiceNow, Inc. $NOW Shares Sold by SeaCrest Wealth Management LLC

Key Points

• SeaCrest Wealth Management cut its ServiceNow stake by 58.5% in the third quarter, selling 7,059 shares and retaining 4,999 shares valued at approximately $670,000.
• Institutional ownership remains substantial at 87.18%, with major investors including State Street, UBS Asset Management, Amundi and Bank of New York Mellon increasing their positions.
• Analysts remain broadly optimistic, with ServiceNow receiving a “Moderate Buy” consensus rating and an average price target of $155.10; however, the stock’s premium valuation leaves it vulnerable to disappointing earnings or guidance.

SeaCrest Wealth Management LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 58.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,999 shares of the information technology services provider's stock after selling 7,059 shares during the period. SeaCrest Wealth Management LLC's holdings in ServiceNow were worth $670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. BlackRock Inc. purchased a new position in shares of ServiceNow in the 2nd quarter valued at about $9,536,615,000. State Street Corp boosted its position in shares of ServiceNow by 2.0% during 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ServiceNow by 16.6% in the second 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 valued at $1,651,828,000 after acquiring an additional 2,362,606 shares during the last quarter. Amundi increased its position in shares of ServiceNow by 60.9% during the 1st quarter. Amundi now owns 11,479,098 shares of the information technology services provider's stock worth $1,200,140,000 after purchasing an additional 4,346,722 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of ServiceNow by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider's stock worth $891,491,000 after purchasing an additional 518,263 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on NOW shares. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Needham & Company LLC increased their price target on ServiceNow from $115.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, September 11th. Truist Financial set a $180.00 price target on shares of ServiceNow and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley set a $180.00 target price on ServiceNow in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of ServiceNow from $135.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $155.10.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 7,847 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares of the company's stock, valued at $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. This represents a 5.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 14,081 shares of company stock valued at $1,937,904. Corporate insiders own 0.34% of the company's stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
• Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
• Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
• Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
• Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
• Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $2.29 on Friday, reaching $159.29. 11,079,096 shares of the company were exchanged, compared to its average volume of 11,102,899. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $192.97. The firm has a market cap of $164.71 billion, a price-to-earnings ratio of 99.56, a P/E/G ratio of 2.88 and a beta of 0.99. The company's 50-day moving average is $137.87 and its two-hundred day moving average is $115.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company's revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 2.22 earnings per share for the current fiscal year.

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company's products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.