ServiceNow, Inc. $NOW Stock Holdings Cut by DJE Kapital AG

Key Points

• DJE Kapital AG cut its ServiceNow stake by 71.2% in the first quarter, selling 52,640 shares and leaving it with 21,285 shares worth about $2.24 million.
• Institutional ownership remains very high at 87.18%, even as several funds made major moves and insiders also sold shares recently.
• Analysts are mixed but still broadly positive: ServiceNow has a Moderate Buy consensus, though some firms cut price targets and Weiss Ratings downgraded the stock to sell.

DJE Kapital AG cut its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 71.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 21,285 shares of the information technology services provider's stock after selling 52,640 shares during the quarter. DJE Kapital AG's holdings in ServiceNow were worth $2,238,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Vanguard Group Inc. boosted its stake in ServiceNow by 404.5% during the fourth 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 in the last quarter. State Street Corp lifted its holdings in 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 acquiring an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Activity

In other news, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider 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 sale was disclosed in a filing with the SEC, which is available at this link. 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 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 transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NOW shares. Weiss Ratings downgraded shares of ServiceNow from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, July 10th. The Goldman Sachs Group restated a "buy" rating and set a $145.00 target price (down from $163.00) on shares of ServiceNow in a report on Wednesday, July 8th. Sanford C. Bernstein restated an "outperform" rating on shares of ServiceNow in a research report on Monday, June 29th. Wells Fargo & Company dropped their price target on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Finally, Piper Sandler reduced their price objective on ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.12.

ServiceNow Stock Performance

Shares of NOW opened at $104.90 on Tuesday. The company has a 50-day moving average of $104.24 and a two-hundred day moving average of $108.92. The stock has a market cap of $108.15 billion, a price-to-earnings ratio of 62.51, a PEG ratio of 1.73 and a beta of 0.96. 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, Inc. has a one year low of $81.24 and a one year high of $210.20.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm's revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 from $122 and reiterated an overweight view, signaling confidence that the stock can recover from current levels. Benzinga report
• Positive Sentiment: Analysts and bullish articles argue ServiceNow’s AI strategy is more about execution than disruption, with the company’s workflow platform and recent integration updates with Ciroos and Esri seen as supportive of long-term demand. ServiceNow (NOW) Adds Ciroos And Esri To Bring AI And GIS Into Workflows
• Positive Sentiment: Multiple previews ahead of earnings highlight that ServiceNow’s own numbers have been contradicting the bearish AI narrative, which could help investor sentiment if results hold up. ServiceNow Is Down 51% as Wall Street Bets AI Will Gut Its Business. July 22 Will Show Who's Right.
• Positive Sentiment: Commentary from value investors says the stock’s decline may be creating a long-term buying opportunity if fundamentals remain solid, which can support dip-buying interest. Should You Buy ServiceNow (NOW) Before Earnings?
• Neutral Sentiment: Wall Street is focused on upcoming quarterly results and key operating metrics, making the next earnings report the main near-term catalyst for the stock. Unveiling ServiceNow (NOW) Q2 Outlook: Wall Street Estimates for Key Metrics
• Negative Sentiment: A critical ServiceNow code execution flaw is reportedly being exploited in attacks, which could raise security concerns and create a temporary headline overhang. Critical ServiceNow code execution flaw now exploited in attacks

ServiceNow 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.