ServiceNow, Inc. $NOW Shares Bought by Siren L.L.C.

Siren L.L.C. grew its position in ServiceNow, Inc. (NYSE:NOW) by 144.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 87,090 shares of the information technology services provider’s stock after purchasing an additional 51,460 shares during the period. Siren L.L.C.’s holdings in ServiceNow were worth $9,105,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Florida Financial Advisors LLC raised its position in ServiceNow by 5.4% in 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 during the period. Clark Capital Management Group Inc. lifted its stake in shares of ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after purchasing an additional 18 shares during the last quarter. American Trust grew its holdings 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 worth $947,000 after purchasing an additional 18 shares during the period. Morse Asset Management Inc grew its holdings 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 worth $3,586,000 after purchasing an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC increased its position 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 worth $522,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% 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. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 19,144 shares of company stock worth $1,730,097. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup restated a “market outperform” rating on shares of ServiceNow in a report on Thursday. DA Davidson set a $170.00 price target on shares of ServiceNow and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company dropped their price target on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Evercore reissued an “outperform” rating and issued a $160.00 price target on shares of ServiceNow in a research note on Thursday. Finally, Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given 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, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $143.39.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $92.15 on Friday. The stock has a market capitalization of $95.00 billion, a price-to-earnings ratio of 57.59, a price-to-earnings-growth ratio of 1.60 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. The business has a 50-day moving average of $104.70 and a 200 day moving average of $107.77. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20.

ServiceNow (NYSE:NOW) last issued 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 company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.63%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat Q2 earnings and revenue estimates, showing that demand for its workflow and AI products remains healthy.
• Positive Sentiment: The company raised its annual subscription revenue forecast again, which signals management confidence in continued growth.
• Positive Sentiment: AI-related momentum was a major highlight, with AI contract value topping $1 billion and multiple reports saying customers are adopting ServiceNow’s AI platform more aggressively.
• Positive Sentiment: Several analysts turned more constructive after earnings, including price-target increases and reaffirmed buy/overweight ratings.
• Neutral Sentiment: New partnerships and customer wins, including Experian, Leidos, TeamViewer, and Exclusive Networks, support the long-term platform story but are less likely to move the stock immediately. Article Title
• Negative Sentiment: Some investors remain worried that new AI tools from OpenAI and others could pressure legacy enterprise software, which has created volatility even after the earnings beat.

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.