ABN AMRO Bank N.V. Sells 59,372 Shares of ServiceNow, Inc. $NOW

ABN AMRO Bank N.V. decreased its position in ServiceNow, Inc. (NYSE:NOW) by 8.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 682,855 shares of the information technology services provider’s stock after selling 59,372 shares during the period. ABN AMRO Bank N.V.’s holdings in ServiceNow were worth $72,018,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares during the last quarter. Noble Wealth Management PBC grew its stake 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 worth $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its holdings in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Finally, Blueline Advisors LLC bought a new position in ServiceNow during the 4th quarter valued at approximately $25,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citizens Jmp reiterated a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Citic Securities reduced their target price on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Stifel Nicolaus decreased their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an “underweight” rating in a research report on Thursday, April 23rd. One research analyst has 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a market rotation into software, with the stock trading near the top of the S&P 500 alongside peers like Workday and AppLovin as investors favor software over chips. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Positive Sentiment: Oppenheimer reiterated an Outperform rating and $130 price target, citing AI growth and ServiceNow’s partnership with Cognizant, which supports expectations for a second-half 2026 reacceleration. Oppenheimer Reaffirms Bullish Outlook on ServiceNow (NOW) Amid AI Growth and Cognizant Partnership
• Positive Sentiment: Recent commentary argues ServiceNow remains a high-quality business trading at a discount, reinforcing the bullish valuation case if growth stays steady. ServiceNow: An Excellent Business Trading at a Discount
• Neutral Sentiment: Industry coverage and comparisons versus Salesforce highlight that ServiceNow’s revenue growth has been more consistent, but the articles are mostly informational rather than a direct catalyst. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?
• Neutral Sentiment: HCLTech’s expanded work with Google Cloud and ServiceNow on AI agents adds ecosystem momentum, but it is not a direct financial update for NOW. HCLTech unveils AI agents on Gemini Enterprise with Google Cloud, ServiceNow
• Negative Sentiment: The recent pullback in tech and AI stocks, especially semiconductors, has kept valuation pressure on the broader sector and likely contributed to recent volatility in ServiceNow shares. Palantir Joins Software Stock Rally Amid Semiconductor, Tech Sell-Off

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. 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. In the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Up 10.2%

NYSE:NOW opened at $98.64 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50-day simple moving average is $100.10 and its 200 day simple moving average is $115.27. The firm has a market capitalization of $101.70 billion, a P/E ratio of 58.79, a PEG ratio of 1.64 and a beta of 0.94.

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 analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. As a group, analysts forecast 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.