Cannell & Spears LLC Sells 49,047 Shares of ServiceNow, Inc. $NOW

Cannell & Spears LLC trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 36.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,713 shares of the information technology services provider’s stock after selling 49,047 shares during the period. Cannell & Spears LLC’s holdings in ServiceNow were worth $8,876,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Millstone Evans Group LLC lifted its position in ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Blueline Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter valued at $25,000. Measured Wealth Private Client Group LLC raised its stake in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares during the period. Finally, Wealth Watch Advisors INC lifted its holdings in shares of ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 7.4%

NOW opened at $98.77 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $104.77 and its two-hundred day moving average is $107.70. The company has a market capitalization of $101.83 billion, a P/E ratio of 61.73, a PEG ratio of 1.54 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $201.15.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Analysts forecast that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

NOW has been the subject of a number of recent analyst reports. Mizuho dropped their price target on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. UBS Group set a $248.00 price objective on shares of ServiceNow in a research note on Thursday. Weiss Ratings cut ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald boosted their price objective on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.39.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were 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 in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,144 shares of company stock worth $1,730,097 in the last three months. Corporate insiders own 0.34% of the company’s stock.

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.