ServiceNow, Inc. $NOW Stock Position Reduced by DJE Kapital AG

DJE Kapital AG lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 71.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 21,285 shares of the information technology services provider’s stock after selling 52,640 shares during the quarter. DJE Kapital AG’s holdings in ServiceNow were worth $2,238,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NOW. Covenant Asset Management LLC boosted its holdings in shares of ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after acquiring an additional 13,114 shares in the last quarter. Norges Bank acquired a new stake in ServiceNow during the 4th quarter valued at $2,020,992,000. World Investment Advisors raised its position in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC raised its position in ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its stake in ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $104.90 on Tuesday. The firm has a market cap of $108.15 billion, a price-to-earnings ratio of 62.51, a PEG ratio of 1.73 and a beta of 0.96. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. 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 has a 50-day moving average price of $104.24 and a 200 day moving average price of $108.92.

ServiceNow (NYSE:NOW) last released 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 net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 2.33 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction that occurred 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. The trade was a 7.99% decrease in their ownership of the stock. 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 ninety days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wolfe Research set a $125.00 target price on ServiceNow in a report on Thursday, April 23rd. Canaccord Genuity Group cut their price target on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Barclays reiterated an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Oppenheimer restated an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research report on Wednesday, July 15th. Finally, Citigroup restated a “buy” rating and issued a $156.00 price objective (down from $158.00) on shares of ServiceNow in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.12.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 from $122 and reiterated an overweight view, signaling confidence that the stock can recover from current levels. Benzinga report
• Positive Sentiment: Analysts and bullish articles argue ServiceNow’s AI strategy is more about execution than disruption, with the company’s workflow platform and recent integration updates with Ciroos and Esri seen as supportive of long-term demand. ServiceNow (NOW) Adds Ciroos And Esri To Bring AI And GIS Into Workflows
• Positive Sentiment: Multiple previews ahead of earnings highlight that ServiceNow’s own numbers have been contradicting the bearish AI narrative, which could help investor sentiment if results hold up. ServiceNow Is Down 51% as Wall Street Bets AI Will Gut Its Business. July 22 Will Show Who’s Right.
• Positive Sentiment: Commentary from value investors says the stock’s decline may be creating a long-term buying opportunity if fundamentals remain solid, which can support dip-buying interest. Should You Buy ServiceNow (NOW) Before Earnings?
• Neutral Sentiment: Wall Street is focused on upcoming quarterly results and key operating metrics, making the next earnings report the main near-term catalyst for the stock. Unveiling ServiceNow (NOW) Q2 Outlook: Wall Street Estimates for Key Metrics
• Negative Sentiment: A critical ServiceNow code execution flaw is reportedly being exploited in attacks, which could raise security concerns and create a temporary headline overhang. Critical ServiceNow code execution flaw now exploited in attacks

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.