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

Key Points

• Nixon Peabody Trust Co. boosted its ServiceNow stake by 192.3% in Q1, buying 87,567 additional shares and bringing its total holdings to 133,109 shares worth about $13.9 million.
• Institutional interest in ServiceNow remains high, with 87.18% of shares held by institutions and hedge funds, while several other funds also increased their positions during recent quarters.
• Analysts remain mostly constructive despite valuation concerns: recent coverage included a Guggenheim upgrade to Buy, and the consensus rating is Moderate Buy with an average price target of $141.68.

Nixon Peabody Trust Co. lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 192.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,109 shares of the information technology services provider's stock after purchasing an additional 87,567 shares during the quarter. ServiceNow comprises about 1.1% of Nixon Peabody Trust Co.'s holdings, making the stock its 23rd biggest holding. Nixon Peabody Trust Co.'s holdings in ServiceNow were worth $13,917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Brighton Jones LLC raised its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares during the period. Sivia Capital Partners LLC grew its position in ServiceNow by 4.2% in 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 period. United Bank grew its position in 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 during the period. Riggs Asset Managment Co. Inc. increased its stake in ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after acquiring an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC increased its stake in ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after acquiring an additional 609 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy, saying AI fears have been overdone and that the stock offers meaningful upside from current levels. ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Other commentary framed ServiceNow as a “golden opportunity” for patient investors, reinforcing the view that the recent selloff may be excessive relative to its growth outlook. ServiceNow (NOW): A Golden Opportunity for Patient Investors
• Positive Sentiment: Analysts and investors continue to highlight demand for ServiceNow’s AI Control Tower and AI-enabled workflow tools, which supports the company’s long-term growth narrative. ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: Several articles discuss ServiceNow’s premium valuation, which may limit near-term upside even as growth remains solid. Does Guggenheim’s Upgrade Reframe ServiceNow (NOW) as an AI Workflow Enabler Rather Than a Disruption Risk?
• Negative Sentiment: Some reports still point to concerns about AI disruption, delayed large deal closures, acquisition-related margin pressure, and overall valuation risk, which could temper enthusiasm. ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

Analyst Upgrades and Downgrades

NOW has been the topic of several recent analyst reports. UBS Group reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Tuesday, May 26th. KeyCorp set a $85.00 price objective on ServiceNow and gave the stock an "underweight" rating in a research report on Thursday, April 23rd. Wells Fargo & Company reduced their price objective on shares of ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. The Goldman Sachs Group decreased their target price on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Finally, BTIG Research reaffirmed a "buy" rating and set a $150.00 target price on shares of ServiceNow in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $141.68.

ServiceNow Trading Down 0.2%

NOW opened at $106.06 on Friday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $100.53 and a 200-day simple moving average of $112.88. The firm has a market cap of $109.34 billion, a P/E ratio of 63.20, a P/E/G ratio of 1.77 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company's quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the business'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 sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

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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