ServiceNow, Inc. $NOW Shares Sold by Sands Capital Management LLC

Key Points

• Sands Capital Management trimmed its ServiceNow stake by 11.5% in Q3, selling 162,056 shares and ending the quarter with 1,246,277 shares (about 0.60% of ServiceNow), valued at roughly $1.147 billion and representing 3.2% of Sands' portfolio.
• ServiceNow beat expectations with quarterly EPS of $0.92 (vs. $0.89 est.) and revenue of $3.57 billion (+20.7% YoY), while expanding its AI/workflow footprint via partnerships (Cohesity, Aiva) and new products that support long-term subscription growth.
• Market sentiment is mixed: several recent price-target cuts and institutional rebalancing have pressured the stock, yet analysts hold a consensus "Moderate Buy" with a $192.06 target, and insider activity is mixed (CEO bought ~$3M while other insiders have sold recently).

Sands Capital Management LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,246,277 shares of the information technology services provider's stock after selling 162,056 shares during the quarter. ServiceNow accounts for 3.2% of Sands Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Sands Capital Management LLC owned about 0.60% of ServiceNow worth $1,146,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Kilter Group LLC acquired a new position in shares of ServiceNow during the 2nd quarter valued at $25,000. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 18 shares during the period. Bogart Wealth LLC grew its holdings in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 15 shares during the period. Total Investment Management Inc. bought a new stake in ServiceNow in the second quarter valued at $31,000. Finally, Albion Financial Group UT increased its stake in ServiceNow by 78.9% in the third quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 15 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOW. Capital One Financial cut their price objective on shares of ServiceNow from $188.00 to $161.00 and set an "overweight" rating on the stock in a research report on Friday, January 16th. UBS Group set a $115.00 target price on ServiceNow in a research report on Thursday, January 29th. Citigroup upped their price target on ServiceNow from $235.00 to $237.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Wells Fargo & Company set a $225.00 price objective on ServiceNow and gave the company an "overweight" rating in a research note on Thursday, January 8th. Finally, BNP Paribas Exane reduced their price objective on ServiceNow from $186.00 to $120.00 and set a "neutral" rating for the company in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $192.06.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Strategic partnership with Cohesity to deliver real-time recovery and resilience for enterprise AI agents — strengthens ServiceNow’s positioning as an “AI control tower” and helps customers operationalize autonomous agents, supporting long-term revenue expansion for AI services. Cohesity and ServiceNow Deliver Real-Time Recovery for Enterprise AI Agents
• Positive Sentiment: Partnership with Aiva to embed voice-driven AI into hospital workflows — expands ServiceNow’s vertical use cases (healthcare) and could accelerate adoption of Now Assist and workflow automation in clinical settings. ServiceNow And Aiva Bring Voice AI Deeper Into Hospital Workflows
• Positive Sentiment: Product expansion and ecosystem moves — ServiceNow launched Autonomous Workforce and EmployeeWorks, earned strong Forrester recognition, and added partnerships (Autonomize AI, NTT DOCOMO, StarHub), reinforcing its AI workflow platform story and addressable market. These product wins support long-term subscription growth. ServiceNow Expands AI Platform As Shares Trade Below Analyst Valuations
• Positive Sentiment: Insider buying by CEO William McDermott (~$3M) has surfaced, which investors often view as management showing conviction in the company’s outlook during pullbacks. Top Superinvestors Are Buying ServiceNow, Inc.
• Neutral Sentiment: Analyst comparisons and industry context — pieces comparing ServiceNow to Salesforce highlight that ServiceNow’s subscription growth has been stronger recently, but overall software multiples are under pressure; useful perspective but not an immediate catalyst. Salesforce vs. ServiceNow: Which AI Stock Is a Better Buy?
• Neutral Sentiment: Market commentary/upgrade calls — some bullish takes (Seeking Alpha upgrade, options-interest notes) argue the sell-off creates a buying opportunity; these are opinion-based and may influence sentiment but are not hard catalysts. Software Has Crashed, Now Is The Time To Buy ServiceNow (Upgrade)
• Negative Sentiment: Analyst price-target cuts / downgrades and related headlines have triggered selling pressure — coverage noting a lowered target prompted exits and contributed to intraday weakness. That appears to be the primary short-term reason for the stock decline today. Why ServiceNow Stock is Falling Today
• Negative Sentiment: Large institutional repositioning — filings show significant portfolio reductions (e.g., UBS AM’s large Q4 trim), which can pressure the stock and keep volatility elevated while funds rebalance. ServiceNow Stock (NOW) Opinions on CEO Insider Buying

ServiceNow Price Performance

Shares of NYSE:NOW opened at $116.42 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock has a market cap of $121.77 billion, a PE ratio of 69.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99. The stock's fifty day simple moving average is $121.48 and its two-hundred day simple moving average is $156.38. ServiceNow, Inc. has a 1-year low of $98.00 and a 1-year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the prior year, the business posted $0.73 EPS. The business's revenue was up 20.7% compared to the same quarter last year. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the sale, the insider directly owned 8,061 shares of the company's stock, valued at approximately $820,367.97. This represents a 31.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares of the company's stock, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,237 shares of company stock valued at $1,697,162. Corporate insiders own 0.34% of the company's stock.

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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