Jefferies Financial Group Inc. Sells 50,317 Shares of ServiceNow, Inc. $NOW

Jefferies Financial Group Inc. reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 13.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 314,946 shares of the information technology services provider’s stock after selling 50,317 shares during the period. Jefferies Financial Group Inc.’s holdings in ServiceNow were worth $42,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NOW. Bank of Nova Scotia lifted its stake in ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after purchasing an additional 353,749 shares during the last quarter. Sapient Capital LLC boosted its position in shares of ServiceNow by 266.0% during the second quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock valued at $7,710,000 after buying an additional 56,444 shares during the period. Meeder Advisory Services Inc. bought a new position in shares of ServiceNow during the second quarter valued at approximately $2,881,000. Vestor Capital LLC grew its stake in shares of ServiceNow by 38,987.2% during the first quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider’s stock valued at $12,791,000 after buying an additional 122,030 shares during the last quarter. Finally, Cardano Risk Management B.V. grew its stake in shares of ServiceNow by 6.9% during the second quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider’s stock valued at $48,129,000 after buying an additional 31,119 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Key ServiceNow News

These are some of the NOW news items that stood out recently:

• Positive Sentiment: ServiceNow’s expanding AI capabilities and its Google Cloud partnership—enabling Gemini Enterprise to carry out business workflows—could support long-term growth. However, the financial payoff from AI remains uncertain. Where Will ServiceNow Stock Be in 2 Years?
• Neutral Sentiment: An analyst survey cited an average price target of $154.50, though targets may not reflect the latest market concerns. Insider Jacqueline Canney’s reported share sale was made under a pre-arranged plan to cover tax withholding on equity awards, making it less informative as a signal of her outlook. Analyst price target report
• Negative Sentiment: A law firm is investigating potential investor claims involving ServiceNow. The announcement adds uncertainty, but an investigation is not a finding of wrongdoing. Pomerantz investigation announcement

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NOW shares. JPMorgan Chase & Co. increased their price target on ServiceNow from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Needham & Company LLC boosted their price objective on ServiceNow from $115.00 to $155.00 and gave the company a “buy” rating in a report on Friday, September 11th. Guggenheim reaffirmed a “buy” rating and issued a $175.00 price objective (up from $125.00) on shares of ServiceNow in a research report on Friday, October 23rd. TD Cowen reduced their target price on ServiceNow from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Finally, Zacks Research lowered ServiceNow from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.50.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $101.70, for a total transaction of $131,091.30. Following the sale, the insider directly owned 30,042 shares in the company, valued at approximately $3,055,271.40. This represents a 4.11% 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. Over the last 90 days, insiders have sold 13,870 shares of company stock worth $1,880,595. Insiders own 0.34% of the company’s stock.

ServiceNow Stock Up 3.3%

Shares of NOW stock opened at $102.85 on Thursday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $175.00. The stock’s fifty day moving average price is $133.69 and its 200 day moving average price is $114.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $106.76 billion, a price-to-earnings ratio of 73.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.00.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter last year, the business posted $4.82 earnings per share. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 2.12 earnings per share for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.