Glenmede Trust Co. NA Boosts Stock Position in ServiceNow, Inc. $NOW

Glenmede Trust Co. NA lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 232.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,146 shares of the information technology services provider's stock after buying an additional 297,879 shares during the quarter. Glenmede Trust Co. NA's holdings in ServiceNow were worth $44,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Florida Financial Advisors LLC increased its holdings in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after acquiring an additional 14 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock valued at $473,000 after purchasing an additional 18 shares in the last quarter. American Trust lifted its holdings in ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider's stock valued at $947,000 after purchasing an additional 18 shares in the last quarter. Morse Asset Management Inc grew its position in shares of ServiceNow by 0.5% in the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock valued at $3,586,000 after purchasing an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC grew its position in shares of ServiceNow by 3.7% in the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock valued at $522,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key Headlines Impacting 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

ServiceNow Stock Performance

NYSE:NOW opened at $111.57 on Friday. The company has a market cap 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. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $196.40. The company's 50-day moving average price is $105.64 and its 200-day moving average price is $106.43. 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 (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping 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 firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm's revenue was up 24.0% compared to the same quarter last year. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction 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 sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 19,144 shares of company stock worth $1,730,097. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. Capital One Financial upped their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. DA Davidson set a $170.00 price objective on ServiceNow and gave the stock a "buy" rating in a report on Monday, July 20th. HSBC cut their price objective on ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Jefferies Financial Group reissued a "buy" rating and set a $140.00 target price (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Mizuho decreased their target price on ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. One 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 company. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $143.39.

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.

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