WESPAC Advisors SoCal LLC Sells 14,170 Shares of ServiceNow, Inc. $NOW

Key Points

• WESPAC Advisors SoCal LLC sharply cut its ServiceNow position in the first quarter, selling 14,170 shares and reducing its holdings by 78% to 4,002 shares worth about $418,000.
• ServiceNow continues to attract strong institutional and analyst support, with major funds increasing stakes and Wall Street maintaining a consensus Moderate Buy rating with an average price target of $142.17.
• The company’s latest earnings showed solid growth, as revenue rose 22.1% year over year to $3.77 billion and EPS matched expectations at $0.97, while recent news has centered on expanding its agentic AI partnerships and platform offerings.

WESPAC Advisors SoCal LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 78.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,002 shares of the information technology services provider's stock after selling 14,170 shares during the period. WESPAC Advisors SoCal LLC's holdings in ServiceNow were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $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% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock worth $7,337,280,000 after buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD boosted its position in ServiceNow by 371.0% during 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 in the last quarter. Geode Capital Management LLC boosted its position 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 valued at $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of ServiceNow by 335.6% in 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 acquiring an additional 17,514,679 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem through new partnerships with Wipro, Digimarc, and HPE, reinforcing demand for its platform in enterprise automation and AIOps. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Analyst-style coverage is constructive, with articles highlighting ServiceNow as a leading generative AI software name and citing strong buy ratings and upside potential from current levels. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Positive Sentiment: ServiceNow’s AI Control Tower is being viewed as a potential growth engine as enterprises look for governance and orchestration tools to manage expanding AI deployments. Can AI Control Tower Become ServiceNow's Next Growth Engine?
• Positive Sentiment: New ecosystem announcements with Aria Systems and Cognizant suggest ServiceNow is deepening integration across telecom and multi-agent enterprise workflows, which could support future platform adoption. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Neutral Sentiment: Several AI infrastructure and industry commentary pieces underscore the broader demand for enterprise AI tools, but they are more thematic than directly tied to near-term ServiceNow financial results. Cloud AI Update - Exploring AI's Future Infrastructure Challenges And Solutions
• Negative Sentiment: The Seeking Alpha piece arguing that the “AI threat is overstated” implies there is still debate about whether AI could pressure software vendors, though the article itself is more reassuring than alarming for ServiceNow. ServiceNow: The AI Threat Is Overstated

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group reduced their price target on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Tuesday, May 26th. DA Davidson reiterated a "buy" rating and issued a $190.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Morgan Stanley cut their target price on ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Finally, TD Cowen reiterated a "buy" rating and issued a $140.00 target price on shares of ServiceNow in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $142.17.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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, insider Jacqueline P. Canney sold 8,927 shares of the business's 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 sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last quarter. Insiders own 0.34% of the company's stock.

ServiceNow Stock Up 0.5%

NYSE:NOW opened at $95.51 on Friday. The company has a market cap of $98.47 billion, a PE ratio of 56.92, a P/E/G ratio of 1.58 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $99.56 and its two-hundred day moving average is $117.81.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (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 business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business's quarterly revenue was up 22.1% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current year.

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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