ServiceNow, Inc. $NOW Stock Holdings Reduced by Swedbank AB

Key Points

• Swedbank AB cut its ServiceNow stake by 10.7% in the first quarter, selling 364,174 shares and ending with 3,051,476 shares valued at about $319 million.
• Insiders also trimmed holdings, including a notable sale by Jacqueline P. Canney and another by Director Paul Edward Chamberlain; insiders sold 28,071 shares over the last 90 days.
• Analysts remain mixed but generally constructive, with several lowering price targets while consensus still sits at a “Moderate Buy” and an average target of $141.68.

Swedbank AB reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,051,476 shares of the information technology services provider's stock after selling 364,174 shares during the period. Swedbank AB owned about 0.30% of ServiceNow worth $319,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow during the 3rd quarter worth $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of ServiceNow during the 3rd quarter valued at $37,000. Ameriflex Group Inc. lifted its stake in shares of ServiceNow by 187.5% in the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Kelleher Financial Advisors bought a new stake in ServiceNow in the third quarter worth $50,000. Finally, Pin Oak Investment Advisors Inc. boosted its holdings in ServiceNow by 20.7% in the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider's stock worth $123,000 after purchasing an additional 23 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings lowered ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, April 21st. Wells Fargo & Company decreased their price target on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lowered their price objective on ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. KeyCorp set a $85.00 price objective on ServiceNow and gave the company an "underweight" rating in a research note on Thursday, April 23rd. Finally, FBN Securities lowered their price target on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. One equities 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $141.68.

Key ServiceNow News

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)

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $3.73 during midday trading on Tuesday, hitting $111.66. The company had a trading volume of 8,464,379 shares, compared to its average volume of 23,961,117. The business's 50 day simple moving average is $100.53 and its two-hundred day simple moving average is $112.60. The stock has a market cap of $115.12 billion, a PE ratio of 66.44, a P/E/G ratio of 1.77 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 1-year low of $81.24 and a 1-year high of $210.20.

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

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.

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