ServiceNow, Inc. $NOW Shares Sold by Modern Wealth Management LLC

Key Points

• Modern Wealth Management cut its ServiceNow stake by 76.7% in the first quarter, selling 12,054 shares and retaining 3,664 shares valued at approximately $381,000. Institutional investors and hedge funds collectively own 87.18% of the company.
• ServiceNow reported quarterly earnings of $0.90 per share and revenue of $3.99 billion, exceeding analyst expectations; revenue increased 24% year over year.
• Analysts remain broadly optimistic, with a “Moderate Buy” consensus rating and an average price target of $143.39, although the stock’s premium valuation and potential AI-related execution risks remain concerns.

Modern Wealth Management LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 76.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,664 shares of the information technology services provider's stock after selling 12,054 shares during the quarter. Modern Wealth Management LLC's holdings in ServiceNow were worth $381,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow in the 3rd quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new stake in shares of ServiceNow during the third quarter worth approximately $50,000. Pin Oak Investment Advisors Inc. grew its position in shares of ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider's stock worth $123,000 after buying an additional 23 shares in the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of ServiceNow in the second quarter worth $154,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,048 shares of the 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 sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,144 shares of company stock worth $1,730,097 over the last quarter. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $105.71 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $201.15. The company has a fifty day moving average price of $104.81 and a two-hundred day moving average price of $107.12. The company has a market cap of $109.31 billion, a PE ratio of 66.07, a P/E/G ratio of 1.67 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The firm's revenue was up 24.0% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Software-sector rebound: ServiceNow rose alongside Salesforce and Workday as investors shifted from chip stocks toward enterprise software, viewing established software vendors as potential beneficiaries of the AI spending cycle. Software stocks rebound on AI rotation
• Positive Sentiment: Growth and guidance support: Recent coverage points to accelerating revenue, subscription revenue growth of roughly 25%, and management raising its full-year outlook. ServiceNow’s latest quarterly results also exceeded consensus estimates for earnings and revenue, reinforcing the fundamental case for the stock. ServiceNow revenue growth is accelerating
• Positive Sentiment: AI partnerships and adoption: ServiceNow and TeamViewer agreed to a multiyear partnership linking TeamViewer’s remote-connectivity tools with the ServiceNow AI Platform. Experian is also expanding its use of the platform for AI-driven workflows, supporting the company’s positioning as an enterprise AI control center. ServiceNow partners with TeamViewer and expands Experian deployment
• Positive Sentiment: Analyst and valuation optimism: Coverage includes an analyst upgrade and a broadly Buy-rated brokerage consensus. Some investors argue that the year’s selloff has left NOW attractively valued relative to its AI-led growth and cross-selling potential. ServiceNow stock rises after analyst upgrade
• Neutral Sentiment: Although analyst recommendations remain favorable, coverage cautions that consensus ratings can be overly optimistic and should not be treated as a standalone buy signal. Broker recommendations for ServiceNow
• Negative Sentiment: AI-disruption concerns remain a valuation and execution risk. ServiceNow has already suffered a substantial yearly decline, and its premium multiple leaves the stock sensitive to any slowdown in growth or disappointment from agentic-AI initiatives.

Wall Street Analyst Weigh In

A number of research firms have commented on NOW. Citic Securities reduced their price objective on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Royal Bank Of Canada reissued an "outperform" rating and issued a $130.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. BMO Capital Markets upped their target price on shares of ServiceNow from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Capital One Financial increased their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Finally, Morgan Stanley set a $180.00 price target on ServiceNow in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $143.39.

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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