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

Key Points

• Whittier Trust Co. cut its ServiceNow stake by 72.8% in the first quarter, selling 176,237 shares and ending with 65,722 shares worth about $6.73 million.
• Insider selling was also notable: directors Paul Edward Chamberlain and Anita M. Sands sold shares in May, and insiders sold 28,071 shares worth about $2.53 million in the last quarter overall.
• ServiceNow shares rose 2.9% to $111.06, while the company reported quarterly EPS of $0.97 in line with estimates and revenue of $3.77 billion, up 22.1% year over year.

Whittier Trust Co. decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 72.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,722 shares of the information technology services provider's stock after selling 176,237 shares during the quarter. Whittier Trust Co.'s holdings in ServiceNow were worth $6,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after buying an additional 81,752,460 shares during the period. State Street Corp raised its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD increased its stake in ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock worth $4,962,692,000 after purchasing an additional 25,517,218 shares during the period. Geode Capital Management LLC increased its stake in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock worth $3,591,425,000 after buying an additional 18,854,775 shares during the period. Finally, Morgan Stanley increased its position in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents 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 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company's stock.

ServiceNow Stock Up 2.9%

Shares of NYSE NOW traded up $3.13 during midday trading on Tuesday, hitting $111.06. 7,259,858 shares of the company's stock were exchanged, compared to its average volume of 23,954,566. The firm's fifty day simple moving average is $100.53 and its 200-day simple moving average is $112.60. The company has a market cap of $114.50 billion, a PE ratio of 65.86, a P/E/G ratio of 1.77 and a beta of 0.96. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $210.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOW. BTIG Research reiterated a "buy" rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Monday, June 29th. JPMorgan Chase & Co. cut their target price on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Citigroup raised their target price on shares of ServiceNow from $154.00 to $158.00 and gave the company a "buy" rating in a report on Thursday, April 30th. TD Cowen reiterated a "buy" rating and issued a $140.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Robert W. Baird decreased their price target on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus price target of $141.68.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim’s dismissive take on “software extinction” fears helped ease worries that AI could hurt enterprise software demand, supporting ServiceNow’s recent climb. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software 'Extinction' Valuation
• Positive Sentiment: ServiceNow announced additional government and defense AI partnerships, including biosurveillance and health-services modernization projects, reinforcing the company’s AI credibility in mission-critical use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Multiple articles argued that ServiceNow’s numbers continue to show resilience despite AI disruption fears, with commentary suggesting the stock may be undervalued relative to its growth and execution. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Positive Sentiment: Recent coverage also highlighted that analysts still see upside in ServiceNow despite some downgrades, keeping valuation debates in focus but not overturning the bullish long-term thesis. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)

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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