Procyon Advisors LLC Sells 8,672 Shares of ServiceNow, Inc. $NOW

Procyon Advisors LLC lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 54.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,343 shares of the information technology services provider’s stock after selling 8,672 shares during the quarter. Procyon Advisors LLC’s holdings in ServiceNow were worth $768,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Noble Wealth Management PBC raised its holdings in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of ServiceNow by 540.0% in the 4th 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 acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $25,000. Finally, Measured Wealth Private Client Group LLC grew its position in shares of ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: UBS raised its price target on ServiceNow to $115 from $100, suggesting analysts still see upside and stable demand trends. Benzinga
• Positive Sentiment: New partner and government-contract announcements highlighted continued ecosystem momentum, including C1Secure’s ServiceNow-native FedRAMP 20x platform and Empower AI’s GSA enterprise IT award, both reinforcing ServiceNow’s role in AI-enabled workflow and public-sector modernization. Article Title Article Title
• Positive Sentiment: Recent commentary argues ServiceNow’s AI tools, including Now Assist, could become a stronger monetization driver as investors rotate toward application software. Article Title
• Neutral Sentiment: Several analyst-style articles debated ServiceNow’s valuation and long-term prospects, with some calling it attractive for the rebound and others saying it is not the cheapest name in software. Article Title Article Title
• Negative Sentiment: IBM’s revenue warning triggered a broader selloff in tech and dragged ServiceNow lower along with other enterprise software names like Accenture. Article Title Article Title

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This 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 available through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOW shares. Wells Fargo & Company cut their price objective on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. DA Davidson reissued a “buy” rating and issued a $190.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus reduced their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $140.60.

ServiceNow Trading Down 5.7%

NYSE NOW opened at $104.90 on Wednesday. The firm has a market cap of $108.15 billion, a P/E ratio of 62.51, a P/E/G ratio of 1.85 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. The stock’s 50-day moving average is $103.20 and its 200-day moving average is $110.31. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the firm earned $0.81 EPS. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

ServiceNow Company 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.