Titan Global Capital Management USA LLC Lowers Position in ServiceNow, Inc. $NOW

Key Points

• Titan Global Capital Management USA cut its ServiceNow stake by 51.1% in the first quarter, selling 52,968 shares and ending with 50,640 shares valued at about $5.29 million.
• Several hedge funds and insiders also adjusted positions in ServiceNow, including notable director sales; insiders sold 28,071 shares over the last quarter, while institutional investors still own 87.18% of the company.
• Analysts remain broadly bullish despite recent volatility: Cantor Fitzgerald lifted its target to $141, and the consensus rating is still Moderate Buy with an average target price of $139.12.

Titan Global Capital Management USA LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,640 shares of the information technology services provider's stock after selling 52,968 shares during the quarter. ServiceNow makes up about 0.8% of Titan Global Capital Management USA LLC's holdings, making the stock its 27th largest position. Titan Global Capital Management USA LLC's holdings in ServiceNow were worth $5,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC boosted its holdings in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at about $25,000. Measured Wealth Private Client Group LLC lifted its position in shares of ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC boosted its holdings in ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key ServiceNow News

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

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents 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. Over the last quarter, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by insiders.

ServiceNow Stock Up 1.6%

ServiceNow stock opened at $104.90 on Tuesday. The firm has a 50 day moving average price of $104.24 and a 200-day moving average price of $108.92. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $210.20. The company has a market capitalization of $108.15 billion, a P/E ratio of 62.51, a P/E/G ratio of 1.73 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. ServiceNow's revenue was up 22.1% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 2.33 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an "underweight" rating in a research note on Thursday, April 23rd. Guggenheim upgraded ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 target price on the stock in a research note on Wednesday, July 1st. Jefferies Financial Group reaffirmed a "buy" rating and set a $135.00 price target (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. TD Cowen reiterated a "buy" rating and set a $140.00 price target on shares of ServiceNow in a report on Friday. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $145.00 price objective (down from $163.00) on shares of ServiceNow in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $139.12.

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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