Wealth High Governance Asset Management Ltda. Takes Position in ServiceNow, Inc. $NOW

Wealth High Governance Asset Management Ltda. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the first quarter, HoldingsChannel reports. The institutional investor acquired 5,994 shares of the information technology services provider’s stock, valued at approximately $627,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC lifted its holdings in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after purchasing an additional 14 shares in the last quarter. Clark Capital Management Group Inc. increased its stake in shares of ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares in the last quarter. American Trust raised its position in shares of ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after purchasing an additional 18 shares during the period. Morse Asset Management Inc raised its position in shares of ServiceNow by 0.5% during the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after purchasing an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its stake in shares of ServiceNow by 3.7% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after buying an additional 20 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $111.57 on Monday. The stock has a 50 day moving average of $105.64 and a 200 day moving average of $106.18. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $196.40. The firm has a market cap of $115.36 billion, a PE ratio of 69.73, a PEG ratio of 1.96 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, 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 value of $103,238.48. Following the sale, the insider 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction 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 sale, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 19,144 shares of company stock valued at $1,730,097. 0.34% of the stock is owned by corporate insiders.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow raised its full-year revenue outlook, reinforcing confidence in continued demand for its workflow-automation platform and supporting the recent improvement in the stock. Why Shares of ServiceNow Stock Were Rising This Week
• Positive Sentiment: Second-quarter revenue rose approximately 24% year over year to about $4 billion, while adjusted earnings exceeded expectations. Management also highlighted more than $1 billion in AI-related contract value, suggesting AI agents are adding consumption-based revenue rather than simply reducing software-seat demand. ServiceNow Stock Opinions on Q2 Earnings Results
• Positive Sentiment: Analyst commentary remains constructive, with reported price targets materially above the recent trading level. One bullish analysis raised its fair-value estimate to $160, citing accelerating user retention, strong organic growth, pricing power in AI products and a long-term target of $30 billion to $32 billion in subscription revenue. ServiceNow User Retention Is Accelerating
• Neutral Sentiment: Dynamic Lifecycle Innovations launched an IT asset-disposition application on ServiceNow, adding another example of partners expanding the platform’s use cases. The announcement is strategically supportive but is unlikely to materially change near-term revenue expectations. Dynamic Lifecycle Innovations launches new ServiceNow app
• Negative Sentiment: ServiceNow could eliminate up to 1,000 positions this year as part of a post-acquisition “rightsizing” effort. The cuts may improve efficiency and margins, but reports of continuing layoffs create execution, morale and integration concerns for investors. Exclusive: ServiceNow to cut up to 1K jobs

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a report on Friday, July 17th. Stifel Nicolaus lowered their price objective on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. Jefferies Financial Group reiterated a “buy” rating and set a $140.00 target price (up from $135.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, BTIG Research reissued a “buy” rating and set a $150.00 target price on shares of ServiceNow in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.