ServiceNow, Inc. $NOW Position Cut by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors LLC trimmed its ServiceNow stake by 6.0% in the first quarter, selling 9,689 shares and leaving it with 152,033 shares valued at about $15.9 million.
• Several other major institutional investors hold large positions in ServiceNow, and overall 87.18% of the stock is owned by institutions and hedge funds.
• ServiceNow recently reported quarterly results that met EPS expectations at $0.97 per share and topped revenue estimates with $3.77 billion, up 22.1% year over year, while analysts currently rate the stock a Moderate Buy with an average price target of $141.03.

Sanctuary Advisors LLC lowered its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 152,033 shares of the information technology services provider's stock after selling 9,689 shares during the period. Sanctuary Advisors LLC's holdings in ServiceNow were worth $15,895,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 404.5% during 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 buying an additional 81,752,460 shares during the last quarter. State Street Corp raised its stake in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its stake in shares of ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock worth $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% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Down 0.7%

ServiceNow stock opened at $104.04 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The firm has a fifty day moving average price of $103.73 and a two-hundred day moving average price of $109.63. The firm has a market cap of $107.27 billion, a price-to-earnings ratio of 62.00, a P/E/G ratio of 1.74 and a beta of 0.96.

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

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Citic Securities decreased their target price on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Weiss Ratings lowered ServiceNow from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, July 10th. DA Davidson reissued a "buy" rating and issued a $190.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. FBN Securities reduced their target price on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $141.03.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: BNP Paribas and RBC Capital both raised their outlooks on ServiceNow, citing conservative guidance, improving demand, and strong channel feedback heading into Q2 results. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several recent notes say ServiceNow looks “constructive” going into earnings, with analysts pointing to conservative guidance and signs of strengthening federal and enterprise demand that could help the company beat expectations. ServiceNow Seen Well Positioned for Q2
• Neutral Sentiment: Investor attention is also on ServiceNow’s AI strategy, with commentary suggesting the market may be underestimating the company’s AI pivot and long-term growth runway. Missing ServiceNow's AI Pivot Could Be Your Biggest Mistake
• Neutral Sentiment: Some valuation-focused articles argue that, despite the stock’s sharp decline over the past year, ServiceNow still screens as expensive, leaving investors split between attractive reset expectations and lingering premium valuation concerns. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?
• Negative Sentiment: One article notes that software stocks, including NOW, fell after IBM warned that some clients are shifting spending toward servers and cybersecurity, which could pressure parts of the software group. ADBE, CRM, NOW, MSFT: Software Stocks Fall After IBM Warns Clients Shifting Spending To Servers, Cybersecurity

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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