Renaissance Technologies LLC Trims Stock Position in ServiceNow, Inc. $NOW

Renaissance Technologies LLC trimmed its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,206,018 shares of the information technology services provider's stock after selling 125,959 shares during the period. Renaissance Technologies LLC owned 0.12% of ServiceNow worth $126,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Florida Financial Advisors LLC boosted its position in shares of ServiceNow by 5.4% in the second 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 during the last quarter. Clark Capital Management Group Inc. grew its holdings in ServiceNow by 3.6% in 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 during the period. American Trust increased its position in ServiceNow by 1.8% during the third quarter. American Trust now owns 1,029 shares of the information technology services provider's stock worth $947,000 after purchasing an additional 18 shares during the last quarter. Morse Asset Management Inc increased its position in ServiceNow by 0.5% during the second quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock worth $3,586,000 after purchasing an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC raised its stake in ServiceNow by 3.7% during the third quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock worth $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.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible 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 owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. 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 19,144 shares of company stock valued at $1,730,097 in the last quarter. Company insiders own 0.34% of the company's stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

ServiceNow Stock Up 7.4%

Shares of NYSE:NOW opened at $98.77 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $201.15. The company has a 50 day moving average of $104.77 and a two-hundred day moving average of $107.70. The company has a market capitalization of $101.83 billion, a price-to-earnings ratio of 61.73, a price-to-earnings-growth ratio of 1.54 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The business's quarterly revenue was up 24.0% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price target on shares of ServiceNow in a report on Thursday. Guggenheim upgraded ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 price objective for the company in a report on Wednesday, July 1st. Weiss Ratings lowered ServiceNow from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, July 10th. Cantor Fitzgerald lifted their target price on ServiceNow from $122.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, July 20th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $140.00 price target (up from $135.00) on shares of ServiceNow in a research report on Thursday. 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.39.

About ServiceNow

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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