Cane Capital Partners LLC Decreases Stake in ServiceNow, Inc. $NOW

Cane Capital Partners LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 76.1% during the 1st quarter, HoldingsChannel reports. The firm owned 7,636 shares of the information technology services provider’s stock after selling 24,348 shares during the quarter. Cane Capital Partners LLC’s holdings in ServiceNow were worth $798,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after acquiring an additional 34 shares during the period. United Bank grew its holdings in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares during the period. Finally, Nebula Research & Development LLC increased its position in ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 609 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy and said the stock’s valuation looks too depressed despite real AI-related risks, helping spark a rally in the shares. ServiceNow and Salesforce shares now look like buys, as ‘Armageddon’ fears are too extreme, analyst says
• Positive Sentiment: ServiceNow and Accenture launched a joint initiative to modernize enterprise risk management with agentic AI, reinforcing the company’s position in AI-powered workflow and security software. Why ServiceNow Stock Is Rising Today
• Positive Sentiment: Analysts and recent articles highlighted ServiceNow’s enterprise AI adoption, security expansion, and strong workflow demand as potential supports for long-term growth and future earnings upside. NOW Benefits From Enterprise AI Adoption: Buy, Sell, or Hold the Stock?

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. Argus decreased their target price on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 price target (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Robert W. Baird lowered their price objective on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. The Goldman Sachs Group cut their target price on ServiceNow from $188.00 to $163.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Wolfe Research set a $125.00 target price on ServiceNow in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.68.

ServiceNow Stock Performance

NYSE:NOW opened at $105.81 on Thursday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month 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 firm has a market capitalization of $109.09 billion, a PE ratio of 63.06, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. The business’s fifty day moving average price is $100.35 and its 200 day moving average price is $113.40.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 of the company’s stock, 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 three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by insiders.

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.