ServiceNow, Inc. $NOW Shares Acquired by Nixon Peabody Trust Co.

Key Points

• Nixon Peabody Trust Co. sharply increased its ServiceNow stake by 536.3% in the fourth quarter, ending with 45,542 shares worth about $6.98 million. Institutional investors still own a very large portion of the company, at 87.18%.
• ServiceNow’s latest quarterly results were solid, with EPS of $0.97 matching estimates and revenue of $3.77 billion topping forecasts. Revenue rose 22.1% year over year, while analysts now expect full-year EPS of 2.35.
• Wall Street remains broadly positive despite multiple target cuts: several firms kept Buy/Overweight ratings, and the consensus rating is Moderate Buy with an average price target of $141.85. Recent coverage also points to ServiceNow’s AI workflow strategy as a key support for the stock.

Nixon Peabody Trust Co. increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 536.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,542 shares of the information technology services provider's stock after buying an additional 38,385 shares during the period. Nixon Peabody Trust Co.'s holdings in ServiceNow were worth $6,977,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Brighton Jones LLC grew its stake 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 acquiring an additional 30 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock worth $861,000 after acquiring an additional 34 shares during the last quarter. United Bank lifted its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider's stock worth $1,562,000 after acquiring 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 valued at $1,976,000 after purchasing an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its holdings in ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after purchasing an additional 609 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $102.13 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $105.29 billion, a price-to-earnings ratio of 60.86, a price-to-earnings-growth ratio of 1.81 and a beta of 0.82. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The business has a 50 day simple moving average of $98.74 and a 200-day simple moving average of $126.13.

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, hitting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm'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 research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NOW shares. Argus dropped their price objective on ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, April 24th. Wells Fargo & Company reduced their target price on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Mizuho decreased their price target on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Citic Securities dropped their price target on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price target on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.85.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 3,696 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the transaction, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. This trade represents a 31.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director directly owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This represents a 3.23% 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. In the last quarter, insiders have sold 31,767 shares of company stock valued at $2,906,098. Corporate insiders own 0.34% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.