Whittier Trust Co. of Nevada Inc. Sells 70,726 Shares of ServiceNow, Inc. $NOW

Whittier Trust Co. of Nevada Inc. reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 77.8% in the first quarter, HoldingsChannel.com reports. The fund owned 20,173 shares of the information technology services provider’s stock after selling 70,726 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in ServiceNow were worth $2,066,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Florida Financial Advisors LLC boosted its position in shares of ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after purchasing an additional 14 shares in the last quarter. First Affirmative Financial Network increased its holdings in 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 in the last quarter. Nicolet Advisory Services LLC increased its holdings in ServiceNow by 1.1% in the third quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock worth $1,322,000 after purchasing an additional 16 shares in the last quarter. Opes Wealth Management LLC lifted its stake 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 buying an additional 17 shares during the period. Finally, Clark Capital Management Group Inc. lifted its stake in ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 18 shares during the period. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOW. Canaccord Genuity Group cut their price target on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Citic Securities dropped their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Bank of America started coverage on shares of ServiceNow in a research report on Monday, May 18th. They set a “buy” rating and a $130.00 target price on the stock. BMO Capital Markets reduced their price target on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $141.68.

ServiceNow Stock Up 2.9%

Shares of NOW traded up $3.13 during trading hours on Tuesday, reaching $111.06. The stock had a trading volume of 7,259,858 shares, compared to its average volume of 23,954,566. The firm has a 50-day simple moving average of $100.53 and a 200 day simple moving average of $112.60. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $114.50 billion, a price-to-earnings ratio of 65.86, a P/E/G ratio of 1.77 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 EPS. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 have sold 28,071 shares of company stock valued at $2,529,956 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim’s dismissive take on “software extinction” fears helped ease worries that AI could hurt enterprise software demand, supporting ServiceNow’s recent climb. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: ServiceNow announced additional government and defense AI partnerships, including biosurveillance and health-services modernization projects, reinforcing the company’s AI credibility in mission-critical use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Multiple articles argued that ServiceNow’s numbers continue to show resilience despite AI disruption fears, with commentary suggesting the stock may be undervalued relative to its growth and execution. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Positive Sentiment: Recent coverage also highlighted that analysts still see upside in ServiceNow despite some downgrades, keeping valuation debates in focus but not overturning the bullish long-term thesis. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)

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.