ServiceNow, Inc. $NOW Stock Holdings Cut by Glenview Trust Co

Glenview Trust Co cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 104,606 shares of the information technology services provider’s stock after selling 5,742 shares during the quarter. Glenview Trust Co’s holdings in ServiceNow were worth $10,937,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Piar LLC lifted its holdings in ServiceNow by 97.7% in the 1st quarter. Piar LLC now owns 27,210 shares of the information technology services provider’s stock valued at $2,845,000 after acquiring an additional 13,450 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its position in shares of ServiceNow by 5.0% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 5,064 shares of the information technology services provider’s stock valued at $529,000 after purchasing an additional 239 shares in the last quarter. MWA Asset Management boosted its position in shares of ServiceNow by 33.1% during the 1st quarter. MWA Asset Management now owns 10,593 shares of the information technology services provider’s stock valued at $1,107,000 after purchasing an additional 2,632 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of ServiceNow by 229.4% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 76,089 shares of the information technology services provider’s stock worth $7,955,000 after purchasing an additional 52,989 shares during the last quarter. Finally, Florida Financial Advisors LLC grew its stake in shares of ServiceNow by 30.5% in the 1st quarter. Florida Financial Advisors LLC now owns 2,369 shares of the information technology services provider’s stock worth $248,000 after purchasing an additional 554 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on 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 approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the business’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 sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents 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. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. JPMorgan Chase & Co. cut their target price on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of ServiceNow in a research report on Thursday. Citigroup reaffirmed a “buy” rating and issued a $156.00 price target (down from $158.00) on shares of ServiceNow in a report on Wednesday, July 15th. Raymond James Financial cut their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus reduced their price objective on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $139.12.

ServiceNow Stock Performance

Shares of NOW opened at $104.90 on Tuesday. The company has a 50-day moving average of $104.24 and a two-hundred day moving average of $108.92. The stock 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. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20.

ServiceNow (NYSE:NOW) last released its quarterly 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. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

Trending Headlines about ServiceNow

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.