Frank Rimerman Advisors LLC Sells 6,900 Shares of ServiceNow, Inc. $NOW

Frank Rimerman Advisors LLC cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 38.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,039 shares of the information technology services provider’s stock after selling 6,900 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in ServiceNow were worth $1,154,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Noble Wealth Management PBC increased its holdings 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 purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC boosted its position in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in ServiceNow by 540.0% in 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 buying an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at $25,000. Finally, Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the period. 87.18% of the stock is owned by institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Truist Financial raised its price target on ServiceNow to $130 from $120 and reiterated a buy rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Several recent articles highlighted ServiceNow as a strong AI/software name, with commentary suggesting the market is becoming more constructive on the company’s long-term growth story.
• Positive Sentiment: An article on “final trades” and other media coverage kept ServiceNow in the spotlight, reinforcing investor interest and supporting sentiment around the stock.
• Neutral Sentiment: ServiceNow was also mentioned in broader cloud and software market discussions, including an AI trade rotation away from semiconductors and toward software, which may be helping the stock but does not reflect company-specific news. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Other coverage noted that ServiceNow is consolidating after recent moves, suggesting traders are digesting the stock’s valuation and AI expectations rather than reacting to a single new catalyst. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Some recent pieces continued to question the stock’s performance this year and pointed to investor concern about the company’s future growth, which may cap enthusiasm.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business’s 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 transaction, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade 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. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $108.88 on Friday. The stock has a market cap of $112.26 billion, a P/E ratio of 64.89, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $210.20. The stock’s 50-day moving average price is $102.11 and its two-hundred day moving average price is $111.29. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the business posted $0.81 EPS. ServiceNow’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. DA Davidson reaffirmed a “buy” rating and set a $190.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Morgan Stanley lowered their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Piper Sandler dropped their price objective on ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Benchmark upped their target price on shares of ServiceNow from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Weiss Ratings lowered shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.47.

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.