ServiceNow, Inc. $NOW Shares Bought by Twin Capital Management Inc.

Twin Capital Management Inc. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 34.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,986 shares of the information technology services provider’s stock after purchasing an additional 7,107 shares during the quarter. Twin Capital Management Inc.’s holdings in ServiceNow were worth $2,926,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NOW. Bank of New York Mellon Corp grew its position in ServiceNow by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock valued at $891,491,000 after buying an additional 518,263 shares in the last quarter. Three Seasons Wealth LLC raised its position in shares of ServiceNow by 74.9% during the 1st quarter. Three Seasons Wealth LLC now owns 12,948 shares of the information technology services provider’s stock worth $1,354,000 after buying an additional 5,547 shares in the last quarter. Harmony Asset Management LLC lifted its stake in shares of ServiceNow by 388.4% in the 1st quarter. Harmony Asset Management LLC now owns 26,006 shares of the information technology services provider’s stock worth $2,719,000 after acquiring an additional 20,681 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of ServiceNow by 12.1% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,645 shares of the information technology services provider’s stock worth $379,000 after acquiring an additional 392 shares during the period. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new position in shares of ServiceNow in the first quarter valued at approximately $5,018,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: BNP Paribas said ServiceNow has a “constructive setup” for Q2 results, pointing to conservative guidance and improving demand — including healthier federal demand — that could set up an earnings beat. ServiceNow offers ‘constructive setup’ going into Q2 results, BNP says
• Positive Sentiment: UBS raised its price target on NOW to $115 and kept a neutral rating, saying demand trends appear stable and implying some upside from current levels. UBS price target raise
• Positive Sentiment: Several commentary pieces argue the market may be too pessimistic on ServiceNow, with some analysts framing AI as an opportunity rather than a threat and noting the company is raising its AI monetization targets. ServiceNow (NOW) Is Raising Its AI Targets As Investors Shift Toward Software
• Neutral Sentiment: Some pre-earnings notes say ServiceNow may not have the “right combination” for a clear beat, so expectations remain cautious heading into next week’s report. ServiceNow (NOW) Earnings Expected to Grow
• Negative Sentiment: NOW was also dragged lower by a broader software selloff after IBM warned that clients are shifting spending toward servers and cybersecurity, which raised concerns across enterprise software stocks. IBM Plunge Triggers Tech Stock Selloff After Revenue Miss Warning

ServiceNow Stock Down 0.1%

Shares of ServiceNow stock opened at $104.78 on Thursday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The firm has a market capitalization of $108.03 billion, a PE ratio of 62.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $103.52 and its 200-day moving average is $109.98.

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

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on 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 transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOW. BTIG Research reiterated a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research note on Monday, June 29th. Weiss Ratings downgraded ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. Citigroup reaffirmed a “buy” rating and set a $156.00 price target (down from $158.00) on shares of ServiceNow in a research note on Wednesday. The Goldman Sachs Group reissued 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. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.80.

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.