Paul Fipps Sells 1,048 Shares of ServiceNow (NYSE:NOW) Stock

ServiceNow, Inc. (NYSE:NOW) insider Paul Fipps sold 1,048 shares of ServiceNow 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 completion of the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

Paul Fipps also recently made the following trade(s):

• On Friday, May 8th, Paul Fipps sold 151 shares of ServiceNow stock. The stock was sold at an average price of $90.47, for a total transaction of $13,660.97.
• On Monday, February 23rd, Paul Fipps sold 3,696 shares of ServiceNow stock. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92.
• On Wednesday, February 18th, Paul Fipps sold 9,641 shares of ServiceNow stock. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13.

ServiceNow Price Performance

NOW stock opened at $101.71 on Wednesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a market cap of $104.86 billion, a P/E ratio of 60.61, a PEG ratio of 1.76 and a beta of 0.82. The firm has a 50-day moving average of $99.72 and a 200 day moving average of $127.48. 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 (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.81 EPS. The business’s revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on NOW. UBS Group set a $150.00 price objective on ServiceNow in a report on Thursday, April 23rd. Cantor Fitzgerald dropped their target price on shares of ServiceNow to $122.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. The Goldman Sachs Group decreased their price target on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Macquarie Infrastructure lowered their price target on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.89.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated ServiceNow with a Buy rating and $130 price target, saying the company is well positioned for the agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports said concerns about AI disrupting ServiceNow may be overblown and that AI could instead strengthen its enterprise workflow business. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow’s partnership with Experian and its new AI governance products support the view that the company is becoming more central to enterprise AI infrastructure. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader software-sector strength is also helping NOW, as investors rotate back into beaten-down application software names. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still point to lingering valuation and “SaaSpocalypse” concerns, suggesting the rebound may not be fully settled yet. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Institutional Trading of ServiceNow

A number of institutional investors have recently made changes to their positions in NOW. IAG Wealth Partners LLC lifted its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares during the period. Wealth Watch Advisors INC purchased a new stake in ServiceNow in the third quarter worth approximately $29,000. Texas Capital Bancshares Inc TX bought a new stake in ServiceNow in the 3rd quarter worth approximately $37,000. Ameriflex Group Inc. raised its stake in ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new stake in ServiceNow during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 87.18% 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.