Bleakley Financial Group LLC Purchases 5,545 Shares of ServiceNow, Inc. $NOW

Bleakley Financial Group LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 23.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,200 shares of the information technology services provider’s stock after buying an additional 5,545 shares during the period. Bleakley Financial Group LLC’s holdings in ServiceNow were worth $3,053,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC lifted its holdings in shares of ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the period. First Affirmative Financial Network grew its stake in shares of ServiceNow by 1.7% in the third quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock worth $821,000 after purchasing an additional 15 shares during the last quarter. Opes Wealth Management LLC increased its holdings in ServiceNow by 3.5% in the third quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock valued at $467,000 after purchasing an additional 17 shares during the period. Clark Capital Management Group Inc. raised its position in ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares during the last quarter. Finally, American Trust raised its position in 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 last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction 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 transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was 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 quarter, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Down 0.1%

Shares of NYSE:NOW opened at $104.78 on Thursday. The business’s 50 day simple moving average is $103.52 and its two-hundred day simple moving average is $109.98. The firm has a market cap of $108.03 billion, a P/E ratio of 62.44, a PEG ratio of 1.74 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on NOW shares. Evercore upped their target price on ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. BMO Capital Markets dropped their price target 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Citizens Jmp reissued a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, HSBC dropped their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.80.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: BNP Paribas said ServiceNow has a “constructive setup” for Q2 results, pointing to conservative guidance and improving demand — including healthier federal demand — that could set up an earnings beat. ServiceNow offers ‘constructive setup’ going into Q2 results, BNP says
• Positive Sentiment: UBS raised its price target on NOW to $115 and kept a neutral rating, saying demand trends appear stable and implying some upside from current levels. UBS price target raise
• Positive Sentiment: Several commentary pieces argue the market may be too pessimistic on ServiceNow, with some analysts framing AI as an opportunity rather than a threat and noting the company is raising its AI monetization targets. ServiceNow (NOW) Is Raising Its AI Targets As Investors Shift Toward Software
• Neutral Sentiment: Some pre-earnings notes say ServiceNow may not have the “right combination” for a clear beat, so expectations remain cautious heading into next week’s report. ServiceNow (NOW) Earnings Expected to Grow
• Negative Sentiment: NOW was also dragged lower by a broader software selloff after IBM warned that clients are shifting spending toward servers and cybersecurity, which raised concerns across enterprise software stocks. IBM Plunge Triggers Tech Stock Selloff After Revenue Miss Warning

ServiceNow 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.