Lmcg Investments LLC Sells 49,365 Shares of ServiceNow, Inc. $NOW

Key Points

• Lmcg Investments LLC cut its ServiceNow stake by 90.5% in the first quarter, selling 49,365 shares and leaving it with 5,169 shares worth about $540,000.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 87.18% of the stock despite some recent trimming and modest adds by other funds.
• Analysts remain generally positive on ServiceNow: Truist raised its price target to $130 and reiterated a buy rating, while the broader consensus is a Moderate Buy with a target price of $141.47.

Lmcg Investments LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 90.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,169 shares of the information technology services provider's stock after selling 49,365 shares during the quarter. Lmcg Investments LLC's holdings in ServiceNow were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Florida Financial Advisors LLC grew its position in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock valued at $280,000 after buying an additional 14 shares during the period. First Affirmative Financial Network boosted its stake in shares of ServiceNow by 1.7% during the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider's stock worth $821,000 after acquiring an additional 15 shares during the last quarter. Nicolet Advisory Services LLC boosted its stake in shares of ServiceNow by 1.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider's stock worth $1,322,000 after acquiring an additional 16 shares during the last quarter. Opes Wealth Management LLC grew its position in shares of ServiceNow by 3.5% during the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider's stock valued at $467,000 after acquiring an additional 17 shares during the period. Finally, Clark Capital Management Group Inc. grew its position in shares of ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock valued at $473,000 after acquiring an additional 18 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Truist Financial raised its price target on ServiceNow to $130 from $120 and reiterated a buy rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Several recent articles highlighted ServiceNow as a strong AI/software name, with commentary suggesting the market is becoming more constructive on the company’s long-term growth story.
• Positive Sentiment: An article on “final trades” and other media coverage kept ServiceNow in the spotlight, reinforcing investor interest and supporting sentiment around the stock.
• Neutral Sentiment: ServiceNow was also mentioned in broader cloud and software market discussions, including an AI trade rotation away from semiconductors and toward software, which may be helping the stock but does not reflect company-specific news. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Other coverage noted that ServiceNow is consolidating after recent moves, suggesting traders are digesting the stock’s valuation and AI expectations rather than reacting to a single new catalyst. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Some recent pieces continued to question the stock’s performance this year and pointed to investor concern about the company’s future growth, which may cap enthusiasm.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated 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 transaction, the insider owned 12,072 shares of the company's stock, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on NOW shares. Oppenheimer reaffirmed an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. DA Davidson restated a "buy" rating and issued a $190.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. KeyCorp set a $85.00 price objective on ServiceNow and gave the company an "underweight" rating in a research report on Thursday, April 23rd. Finally, Raymond James Financial reduced their target price on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.47.

ServiceNow Stock Up 1.0%

Shares of NOW opened at $108.88 on Friday. The business's 50 day moving average is $102.11 and its 200 day moving average is $111.29. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The company has a market capitalization of $112.26 billion, a PE ratio of 64.89, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the firm posted $0.81 EPS. The company's revenue was up 22.1% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

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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