ServiceNow, Inc. $NOW Shares Acquired by Trust Co of Kansas

Key Points

• Trust Co of Kansas boosted its ServiceNow stake by 611.1% in the fourth quarter, buying 25,723 additional shares and bringing its total holdings to 29,932 shares worth about $4.6 million.
• ServiceNow reported Q1 earnings of $0.97 per share, matching analyst expectations, while revenue of $3.77 billion slightly topped estimates and rose 22.1% year over year.
• Despite mixed stock performance and some recent insider selling, analysts remain generally positive on NOW, with a Moderate Buy consensus and an average price target of $141.85.

Trust Co of Kansas lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 611.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,932 shares of the information technology services provider's stock after purchasing an additional 25,723 shares during the quarter. ServiceNow comprises approximately 2.1% of Trust Co of Kansas' portfolio, making the stock its 20th biggest position. Trust Co of Kansas' holdings in ServiceNow were worth $4,585,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IAG Wealth Partners LLC lifted its stake in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 18 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow during the third quarter worth about $29,000. Texas Capital Bancshares Inc TX acquired a new position in shares of ServiceNow during the third quarter worth about $37,000. Ameriflex Group Inc. raised its holdings in ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors purchased a new position in ServiceNow during the third quarter worth about $50,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.0%

NOW opened at $112.45 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $115.94 billion, a price-to-earnings ratio of 67.02, a PEG ratio of 1.86 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The business's fifty day moving average is $99.48 and its two-hundred day moving average is $121.71.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the business posted $0.81 earnings per share. The business's revenue for the quarter was up 22.1% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of ServiceNow 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 in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company's stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOW. Wolfe Research set a $125.00 price objective on ServiceNow in a report on Thursday, April 23rd. Canaccord Genuity Group cut their target price on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Citigroup raised their price target on ServiceNow from $154.00 to $158.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Raymond James Financial decreased their price target on ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Finally, Wall Street Zen lowered ServiceNow from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $141.85.

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.