ServiceNow, Inc. $NOW Shares Bought by Acumen Wealth Advisors LLC

Acumen Wealth Advisors LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 14,043.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,779 shares of the information technology services provider’s stock after purchasing an additional 7,724 shares during the period. Acumen Wealth Advisors LLC’s holdings in ServiceNow were worth $813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Trust Advisors LP increased its position in ServiceNow by 8.0% during the 1st quarter. First Trust Advisors LP now owns 878,021 shares of the information technology services provider’s stock valued at $91,797,000 after buying an additional 65,405 shares in the last quarter. a16z Perennial Management L.P. acquired a new stake in ServiceNow in the first quarter worth about $259,000. Westpac Banking Corp grew its stake in shares of ServiceNow by 4.5% during the first quarter. Westpac Banking Corp now owns 7,368 shares of the information technology services provider’s stock worth $770,000 after acquiring an additional 318 shares during the last quarter. Saturna Capital Corp increased its holdings in shares of ServiceNow by 21.4% during the first quarter. Saturna Capital Corp now owns 1,151,313 shares of the information technology services provider’s stock valued at $120,370,000 after acquiring an additional 203,138 shares in the last quarter. Finally, Fortis Capital Management LLC increased its holdings in shares of ServiceNow by 1.2% during the first quarter. Fortis Capital Management LLC now owns 48,942 shares of the information technology services provider’s stock valued at $5,117,000 after acquiring an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow 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 completion of the sale, 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 2.5%

NOW stock opened at $102.04 on Wednesday. The company’s 50-day simple moving average is $104.50 and its 200-day simple moving average is $108.56. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. The firm has a market cap of $105.20 billion, a P/E ratio of 60.81, a PEG ratio of 1.75 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The firm 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%.ServiceNow’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jefferies expects ServiceNow to deliver solid second-quarter results, with subscription revenue and cRPO likely coming in above guidance. The firm also sees a possible raise to full-year subscription revenue guidance, supported by strong execution, early contract renewals, and AI-related demand. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 and kept an overweight rating, signaling confidence in upside if earnings and guidance remain strong. Article Title
• Positive Sentiment: Morgan Stanley said software sentiment has become “too negative” and named top picks in the sector, reinforcing the idea that high-quality software names like ServiceNow could rebound if the market mood improves. Article Title
• Neutral Sentiment: ServiceNow is in the spotlight ahead of earnings, with mixed analyst views and a bearish technical setup adding uncertainty into the report. Article Title
• Neutral Sentiment: ServiceNow is expected to report after the market close on July 22, and several articles frame the stock as a high-stakes earnings setup rather than a clear fundamental change. Article Title
• Negative Sentiment: CLSA initiated coverage with a bearish view, which has added pressure ahead of earnings and contributed to cautious investor sentiment around the name. Article Title
• Negative Sentiment: A separate security report said a critical ServiceNow code-execution flaw is being exploited in attacks, which could create near-term reputational and security concerns for the company. Article Title

Analysts Set New Price Targets

Several equities analysts recently issued reports on NOW shares. Citigroup reissued a “buy” rating and issued a $156.00 target price (down from $158.00) on shares of ServiceNow in a research report on Wednesday, July 15th. Bank of America initiated coverage on ServiceNow in a research report on Monday, May 18th. They set a “buy” rating and a $130.00 price target for the company. Barclays reiterated an “overweight” rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Truist Financial raised their price target on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $139.12.

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.