ServiceNow, Inc. $NOW Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 37.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,123,795 shares of the information technology services provider’s stock after selling 674,367 shares during the quarter. Bessemer Group Inc.’s holdings in ServiceNow were worth $117,493,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after purchasing an additional 34 shares during the last quarter. United Bank lifted its holdings in shares of ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after purchasing an additional 204 shares during the period. Riggs Asset Managment Co. Inc. lifted its holdings in shares of 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 worth $1,976,000 after purchasing an additional 42 shares during the period. Finally, Nebula Research & Development LLC boosted 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 valued at $931,000 after buying an additional 609 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

ServiceNow Stock Down 0.6%

ServiceNow stock opened at $103.40 on Friday. 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 has a market capitalization of $106.60 billion, a PE ratio of 61.62, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. The business has a 50 day simple moving average of $103.97 and a 200-day simple moving average of $109.58. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on NOW shares. Wells Fargo & Company cut their price target 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. Evercore lifted their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Capital One Financial upped their price objective on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Citigroup reiterated a “buy” rating and issued a $156.00 price objective (down from $158.00) on shares of ServiceNow in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a 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 data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $141.03.

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.