Cardano Risk Management B.V. Sells 4,463,794 Shares of ServiceNow, Inc. $NOW

Cardano Risk Management B.V. cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 90.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 453,666 shares of the information technology services provider’s stock after selling 4,463,794 shares during the period. Cardano Risk Management B.V.’s holdings in ServiceNow were worth $47,430,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after buying an additional 81,752,460 shares during the period. State Street Corp increased its holdings in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after acquiring an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ServiceNow by 404.8% in 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 acquiring an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analysts remain constructive on ServiceNow’s long-term outlook, with multiple reports highlighting upside potential and calling the recent pullback an opportunity to buy. Wall Street expects ServiceNow stock to gain 52%, despite AI threat
• Positive Sentiment: Raymond James said ServiceNow may have pricing power that could drive faster revenue growth and support high-margin expansion. Raymond James sees ServiceNow pricing power driving high-margin growth
• Positive Sentiment: ServiceNow continues to expand its AI and workflow ecosystem through new partnerships in AI governance, public sector modernization, and communications billing, which could support future growth. ServiceNow (NOW) Expands AI Governance And Public Sector Reach With New Partnerships
• Neutral Sentiment: The stock has been drawing investor attention recently, with several articles noting increased trading interest and market focus, but without a clear new catalyst. ServiceNow, Inc. (NOW) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Recent coverage also compared ServiceNow with other enterprise software names and discussed how investors are positioning around AI-led business productivity platforms. ScienceLogic Announces New Skylar AI Updates and Recognition as a Leader in IDC MarketScape Reports
• Negative Sentiment: Some investors remain focused on AI concerns, which are being cited as a reason for weakness even after ServiceNow’s solid earnings performance. AI Concerns Hurt ServiceNow (NOW) Despite Strong Earnings
• Negative Sentiment: The latest trading updates show ServiceNow falling more than the broader market, reflecting ongoing selling pressure in software stocks. ServiceNow (NOW) Dips More Than Broader Market: What You Should Know

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of ServiceNow 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 sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE NOW opened at $93.73 on Thursday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The company has a market cap of $96.64 billion, a PE ratio of 55.86, a P/E/G ratio of 1.60 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business has a 50-day simple moving average of $99.98 and a two-hundred day simple moving average of $115.96.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NOW shares. TD Cowen reaffirmed a “buy” rating and set a $140.00 price objective on shares of ServiceNow in a research report on Thursday, April 23rd. Citigroup raised their price target on shares of ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Bank of America initiated coverage on shares of ServiceNow in a research note on Monday, May 18th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $236.00 target price (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $142.17.

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.