Grove Bank & Trust Sells 6,662 Shares of ServiceNow, Inc. $NOW

Grove Bank & Trust reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 77.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,985 shares of the information technology services provider’s stock after selling 6,662 shares during the quarter. Grove Bank & Trust’s holdings in ServiceNow were worth $197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. State Street Corp boosted its holdings in shares of ServiceNow by 406.6% in 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 acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of ServiceNow by 371.0% in the fourth 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 purchasing an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ServiceNow by 404.8% in the fourth 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 purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of ServiceNow by 335.6% during 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 purchasing an additional 17,514,679 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Down 0.9%

Shares of NYSE:NOW opened at $117.10 on Thursday. The firm has a market capitalization of $121.08 billion, a PE ratio of 73.19, a price-to-earnings-growth ratio of 2.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The firm has a fifty day moving average of $106.55 and a 200 day moving average of $105.80.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last three months, insiders have sold 19,144 shares of company stock worth $1,730,097. 0.34% of the stock is currently owned by insiders.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow launched six autonomous security products built on its Armis and Veza acquisitions, strengthening its position in enterprise cybersecurity and expanding its AI-driven product portfolio. ServiceNow debuts six autonomous security products built on Armis and Veza
• Positive Sentiment: New healthcare partnerships with Hyro and Autonomize AI are adding agentic AI, workflow automation, and fraud-prevention applications to the ServiceNow Store, supporting use-case expansion and potential recurring revenue growth. Hyro partners with ServiceNow
• Positive Sentiment: Analysts and investment commentators continue to describe NOW as an “enterprise AI bargain,” citing strong subscription growth, AI monetization, and a cybersecurity business that reportedly exceeds $1 billion and is growing rapidly. ServiceNow built a billion-dollar cybersecurity business
• Neutral Sentiment: ServiceNow named Simon Mouyal as chief marketing officer, an executive change that could support go-to-market efforts but has no immediate financial impact. ServiceNow names Simon Mouyal chief marketing officer
• Negative Sentiment: The main overhang is that NOW’s sizable year-to-date decline reflects investor concerns about AI competition, elevated valuation, and the broader software sell-off. These concerns are pressuring the stock even though operating growth remains solid. ServiceNow drops 23 percent year to date
• Negative Sentiment: ServiceNow’s planned reduction of approximately 1,000 jobs may improve efficiency and margins, but it also signals cost discipline and potential uncertainty around near-term growth, contributing to investor caution. ServiceNow cuts 1,000 jobs

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $140.00 price objective (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. BMO Capital Markets lifted their target price on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Bank of America started coverage on shares of ServiceNow in a report on Monday, May 18th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.39.

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.