Clearstead Trust LLC Has $56,000 Holdings in ServiceNow, Inc. $NOW

Key Points

• Clearstead Trust LLC cut its ServiceNow stake by 97.3% in the first quarter, selling 19,016 shares and leaving it with 533 shares worth about $56,000.
• ServiceNow reported Q1 earnings in line with expectations, with EPS of $0.97 and revenue of $3.77 billion, up 22.1% year over year. Analysts still expect the company to earn $2.34 per share for the full year.
• Despite some insider selling and a recent 0.6% stock decline, analysts remain generally positive: TD Cowen reiterated a buy rating with a $140 target, and the stock carries a consensus Moderate Buy rating with an average target of $141.03.

Clearstead Trust LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 97.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 533 shares of the information technology services provider's stock after selling 19,016 shares during the period. Clearstead Trust LLC's holdings in ServiceNow were worth $56,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NOW. Brighton Jones LLC raised its holdings in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the period. Sivia Capital Partners LLC grew its stake in shares of ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after buying an additional 34 shares during the period. United Bank increased its position in ServiceNow by 15.5% in the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after buying an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after acquiring an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC increased its position in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after acquiring an additional 609 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 0.6%

NOW opened at $103.40 on Friday. The company's 50-day moving average price is $103.97 and its two-hundred day moving average price is $109.58. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $210.20. The stock has a market cap of $106.60 billion, a price-to-earnings ratio of 61.62, a PEG ratio of 1.73 and a beta of 0.96. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.97. The business had revenue of $3.77 billion during 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 for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company's stock, valued at $1,189,212.72. The trade was a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by company insiders.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $130.00 price target on shares of ServiceNow in a research report on Thursday. HSBC dropped their target price on ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Sanford C. Bernstein restated an "outperform" rating on shares of ServiceNow in a research note on Monday, June 29th. Benchmark reaffirmed a "buy" rating on shares of ServiceNow in a report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $115.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $141.03.

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.

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