ServiceNow, Inc. $NOW Shares Sold by Carmignac Gestion

Key Points

• Carmignac Gestion cut its ServiceNow stake by 12.7%, selling 221,076 shares and retaining 1.51 million shares worth approximately $158.3 million. Institutional investors collectively own 87.18% of the company.
• Analyst sentiment remains positive, with 36 Buy ratings, one Strong Buy, two Holds and three Sells; the stock carries a “Moderate Buy” consensus and an average price target of $143.39.
• ServiceNow reported quarterly revenue of $3.99 billion, up 24% year over year, and adjusted EPS of $0.90, exceeding expectations. The company also raised its full-year revenue outlook, though reported plans to eliminate up to 1,000 positions create execution and integration concerns.

Carmignac Gestion reduced its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,513,849 shares of the information technology services provider's stock after selling 221,076 shares during the period. ServiceNow comprises 2.4% of Carmignac Gestion's holdings, making the stock its 16th biggest position. Carmignac Gestion owned about 0.15% of ServiceNow worth $158,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Millstone Evans Group LLC grew its position in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 135 shares during the period. Blueline Advisors LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC boosted its stake in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC boosted its stake in shares of ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Raymond James Financial dropped their target price on ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Benchmark restated a "buy" rating on shares of ServiceNow in a research report on Friday, July 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $130.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the company a "buy" rating in a report on Monday, July 20th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.39.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the 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 transaction, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,144 shares of company stock valued at $1,730,097. 0.34% of the stock is owned by company insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow raised its full-year revenue outlook, reinforcing confidence in continued demand for its workflow-automation platform and supporting the recent improvement in the stock. Why Shares of ServiceNow Stock Were Rising This Week
• Positive Sentiment: Second-quarter revenue rose approximately 24% year over year to about $4 billion, while adjusted earnings exceeded expectations. Management also highlighted more than $1 billion in AI-related contract value, suggesting AI agents are adding consumption-based revenue rather than simply reducing software-seat demand. ServiceNow Stock Opinions on Q2 Earnings Results
• Positive Sentiment: Analyst commentary remains constructive, with reported price targets materially above the recent trading level. One bullish analysis raised its fair-value estimate to $160, citing accelerating user retention, strong organic growth, pricing power in AI products and a long-term target of $30 billion to $32 billion in subscription revenue. ServiceNow User Retention Is Accelerating
• Neutral Sentiment: Dynamic Lifecycle Innovations launched an IT asset-disposition application on ServiceNow, adding another example of partners expanding the platform’s use cases. The announcement is strategically supportive but is unlikely to materially change near-term revenue expectations. Dynamic Lifecycle Innovations launches new ServiceNow app
• Negative Sentiment: ServiceNow could eliminate up to 1,000 positions this year as part of a post-acquisition “rightsizing” effort. The cuts may improve efficiency and margins, but reports of continuing layoffs create execution, morale and integration concerns for investors. Exclusive: ServiceNow to cut up to 1K jobs

ServiceNow Stock Performance

Shares of NOW stock opened at $111.57 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $196.40. The business's 50 day moving average is $105.64 and its two-hundred day moving average is $106.18. The company has a market capitalization of $115.36 billion, a P/E ratio of 69.73, a P/E/G ratio of 1.96 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business's revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. Analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

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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