ServiceNow, Inc. $NOW Shares Sold by Midwest Trust Co

Key Points

• Midwest Trust Co cut its ServiceNow stake by 14.6% in Q1, selling 16,431 shares and leaving it with 96,235 shares valued at about $10.1 million.
• ServiceNow recently posted solid results, with Q1 earnings of $0.97 per share in line with estimates and revenue of $3.77 billion, up 22.1% year over year.
• Wall Street sentiment remains broadly positive: several analysts reiterated or raised buy ratings, and the consensus target price is $141.47, even as some investors have taken profits amid recent AI-related enthusiasm.

Midwest Trust Co lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,235 shares of the information technology services provider's stock after selling 16,431 shares during the quarter. Midwest Trust Co's holdings in ServiceNow were worth $10,061,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Florida Financial Advisors LLC raised its holdings in shares of ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after acquiring an additional 14 shares during the last quarter. First Affirmative Financial Network lifted its position in shares of ServiceNow by 1.7% in the third quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider's stock valued at $821,000 after acquiring an additional 15 shares in the last quarter. Opes Wealth Management LLC boosted its stake in shares of ServiceNow by 3.5% during the third quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider's stock valued at $467,000 after acquiring an additional 17 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock valued at $473,000 after acquiring an additional 18 shares during the last quarter. Finally, American Trust increased its position in ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider's stock worth $947,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What's Going On?

ServiceNow Price Performance

Shares of ServiceNow stock opened at $107.81 on Monday. The business's fifty day moving average price is $102.49 and its 200 day moving average price is $110.95. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $210.20. 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 stock has a market capitalization of $111.16 billion, a P/E ratio of 64.25, a PEG ratio of 1.79 and a beta of 0.96.

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

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares of the company's stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the firm's 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 completion of the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 in the last quarter. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. Citizens Jmp reissued a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Benchmark raised their price target on shares of ServiceNow from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Bank of America initiated coverage on shares of ServiceNow in a report on Monday, May 18th. They set a "buy" rating and a $130.00 price target for the company. UBS Group reissued an "outperform" rating on shares of ServiceNow in a research report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $141.47.

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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