BDF Gestion Sells 17,824 Shares of ServiceNow, Inc. $NOW

BDF Gestion cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 48.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,342 shares of the information technology services provider's stock after selling 17,824 shares during the quarter. BDF Gestion's holdings in ServiceNow were worth $1,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of ServiceNow by 404.5% in 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 acquiring an additional 81,752,460 shares during the period. State Street Corp lifted its stake in ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its position 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 valued at $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $118.25 on Wednesday. The company has a 50-day moving average price of $106.25 and a 200-day moving average price of $105.90. The company has a market cap of $122.27 billion, a price-to-earnings ratio of 73.91, a price-to-earnings-growth ratio of 2.01 and a beta of 0.94. 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 $194.73.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company's revenue was up 24.0% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank Of Canada restated an "outperform" rating and issued a $130.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Benchmark reissued a "buy" rating on shares of ServiceNow in a report on Friday, July 17th. TD Cowen reaffirmed a "buy" rating and set a $140.00 price objective on shares of ServiceNow in a report on Friday, July 17th. Cantor Fitzgerald increased their target price on ServiceNow from $122.00 to $141.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Finally, Barclays reaffirmed an "overweight" rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $143.39.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction 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 directly owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,144 shares of company stock valued at $1,730,097 over the last 90 days. Company insiders own 0.34% of the company's stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: AI business surpasses $1 billion: ServiceNow’s AI portfolio exceeded $1 billion in annual contract value, reinforcing the company’s ability to monetize AI-enabled workflows and supporting the bullish case for continued growth. ServiceNow AI ACV and layoffs article
• Positive Sentiment: Cost savings through AI restructuring: ServiceNow plans to eliminate up to 1,000 positions while keeping overall headcount roughly flat, redirecting resources toward AI-focused roles. Investors appear to view the move as a way to improve operating leverage and margins rather than as a sign of weakening demand. ServiceNow job cuts article
• Positive Sentiment: Cybersecurity expansion: ServiceNow introduced six autonomous security products built on its Armis and Veza acquisitions. The offerings are designed to connect security data, identity and enterprise workflows, potentially giving ServiceNow a broader competitive position than standalone security vendors. ServiceNow autonomous security products article
• Positive Sentiment: Customer adoption of AI-enabled IT operations: A major multi-hospital system selected 3CLogic’s Voice AI solution for ServiceNow, providing another example of customers using the platform to automate service operations. 3CLogic hospital system announcement

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.

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.

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