Tiger Global Management LLC Sells 626,890 Shares of ServiceNow, Inc. $NOW

Key Points

• Tiger Global Management cut its ServiceNow stake by 29.5% in the first quarter, selling 626,890 shares and ending with 1.5 million shares valued at about $156.8 million.
• ServiceNow’s latest quarterly results were solid, with revenue up 24% year over year to $3.99 billion and EPS of $0.90, topping Wall Street estimates; the company also raised guidance amid strong AI momentum.
• Analysts remain broadly constructive despite some lowered price targets, with ServiceNow holding a Moderate Buy consensus and an average target price of $143.39, while insider selling and mixed institutional moves suggest some portfolio rebalancing.

Tiger Global Management LLC reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 29.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,500,000 shares of the information technology services provider's stock after selling 626,890 shares during the period. ServiceNow makes up about 0.7% of Tiger Global Management LLC's investment portfolio, making the stock its 27th biggest position. Tiger Global Management LLC owned approximately 0.15% of ServiceNow worth $156,825,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NOW. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares during the period. Sivia Capital Partners LLC grew its position in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after buying an additional 34 shares during the period. United Bank grew its position in ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after buying an additional 204 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after buying an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC raised its position in ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after acquiring an additional 609 shares during the period. Institutional investors own 87.18% of the company's stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 19,144 shares of company stock valued at $1,730,097. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NOW shares. Citic Securities dropped their price target 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. KeyCorp restated an "underweight" rating on shares of ServiceNow in a research note on Tuesday. Argus lowered their target price on ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, April 24th. Piper Sandler reissued an "overweight" rating and set a $140.00 price target on shares of ServiceNow in a report on Thursday. Finally, TD Cowen restated a "buy" rating and issued a $140.00 price target on shares of ServiceNow in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $143.39.

ServiceNow Trading Up 7.4%

Shares of ServiceNow stock opened at $98.77 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $201.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.84 and a current ratio of 0.70. The company has a market capitalization of $101.83 billion, a P/E ratio of 61.73, a P/E/G ratio of 1.65 and a beta of 0.96. The company has a fifty day moving average of $104.77 and a 200 day moving average of $107.70.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same period last year, the firm earned $0.81 earnings per share. The business's quarterly revenue was up 24.0% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.33 earnings per share 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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