SouthState Bank Corp Sells 6,005 Shares of ServiceNow, Inc. $NOW

SouthState Bank Corp cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,990 shares of the information technology services provider’s stock after selling 6,005 shares during the quarter. SouthState Bank Corp’s holdings in ServiceNow were worth $10,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the 3rd quarter valued at $29,000. Kelleher Financial Advisors purchased a new stake in ServiceNow in the 3rd quarter worth $50,000. Pin Oak Investment Advisors Inc. raised its holdings in ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 23 shares during the period. Jupiter Wealth Management LLC bought a new stake in ServiceNow during the second quarter valued at about $154,000. Finally, Noble Wealth Management PBC lifted its position in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $190.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Truist Financial boosted their price target on ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Citigroup upped their price target on ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Cantor Fitzgerald set a $130.00 price objective on shares of ServiceNow in a report on Monday, June 15th. Finally, BMO Capital Markets reduced their price objective on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $140.60.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Corporate insiders own 0.34% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: UBS raised its price target on ServiceNow to $115 from $100, suggesting analysts still see upside and stable demand trends. Benzinga
• Positive Sentiment: New partner and government-contract announcements highlighted continued ecosystem momentum, including C1Secure’s ServiceNow-native FedRAMP 20x platform and Empower AI’s GSA enterprise IT award, both reinforcing ServiceNow’s role in AI-enabled workflow and public-sector modernization. Article Title Article Title
• Positive Sentiment: Recent commentary argues ServiceNow’s AI tools, including Now Assist, could become a stronger monetization driver as investors rotate toward application software. Article Title
• Neutral Sentiment: Several analyst-style articles debated ServiceNow’s valuation and long-term prospects, with some calling it attractive for the rebound and others saying it is not the cheapest name in software. Article Title Article Title
• Negative Sentiment: IBM’s revenue warning triggered a broader selloff in tech and dragged ServiceNow lower along with other enterprise software names like Accenture. Article Title Article Title

ServiceNow Stock Down 5.7%

NYSE NOW opened at $104.90 on Wednesday. The stock has a 50 day moving average price of $103.20 and a 200-day moving average price of $110.31. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $108.15 billion, a P/E ratio of 62.51, a P/E/G ratio of 1.85 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

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.