CNB Bank Raises Position in ServiceNow, Inc. $NOW

CNB Bank lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 391.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,849 shares of the information technology services provider’s stock after purchasing an additional 7,845 shares during the period. CNB Bank’s holdings in ServiceNow were worth $1,509,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NOW. Vanguard Group Inc. increased its stake in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Norges Bank purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $2,020,992,000. Capital International Investors increased its stake in shares of ServiceNow by 396.0% during the 4th quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock worth $1,592,310,000 after purchasing an additional 8,297,818 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of ServiceNow by 404.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock worth $1,279,416,000 after purchasing an additional 6,695,802 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

ServiceNow Stock Up 0.0%

Shares of NYSE:NOW opened at $112.45 on Monday. The firm has a fifty day moving average price of $99.48 and a two-hundred day moving average price of $121.71. 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 $211.48. The company has a market cap of $115.94 billion, a price-to-earnings ratio of 67.02, a PEG ratio of 1.86 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NOW shares. BMO Capital Markets decreased their price target on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Cantor Fitzgerald cut their price objective on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Finally, TD Cowen reaffirmed a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $141.85.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company’s 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 transaction, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last 90 days. 0.34% of the stock is owned by insiders.

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.