Lombard Odier Asset Management Europe Ltd Has $10.44 Million Stock Holdings in ServiceNow, Inc. $NOW

Lombard Odier Asset Management Europe Ltd lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 104.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,813 shares of the information technology services provider’s stock after purchasing an additional 51,108 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in ServiceNow were worth $10,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Covenant Asset Management LLC increased its holdings in ServiceNow by 169.2% in the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock valued at $3,196,000 after purchasing an additional 13,114 shares during the period. Norges Bank acquired a new position in ServiceNow during the 4th quarter worth about $2,020,992,000. World Investment Advisors lifted its holdings in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after buying an additional 38,583 shares during the period. Moors & Cabot Inc. grew its position in shares of ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after buying an additional 2,064,440 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow 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 directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 19,144 shares of company stock valued at $1,730,097. 0.34% of the stock is currently owned by company insiders.

ServiceNow Stock Up 0.3%

Shares of NYSE:NOW opened at $111.57 on Monday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $196.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50-day moving average is $105.64 and its 200-day moving average is $106.18. The company has a market capitalization of $115.36 billion, a price-to-earnings ratio of 69.73, a P/E/G ratio of 1.96 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm’s revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NOW shares. Bank of America assumed coverage on ServiceNow in a research note on Monday, May 18th. They issued a “buy” rating and a $130.00 price target for the company. Morgan Stanley set a $180.00 target price on ServiceNow in a report on Tuesday, July 21st. Cantor Fitzgerald increased their target price on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Capital One Financial raised their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Barclays restated an “overweight” rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.39.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow raised its full-year revenue outlook, reinforcing confidence in continued demand for its workflow-automation platform and supporting the recent improvement in the stock. Why Shares of ServiceNow Stock Were Rising This Week
• Positive Sentiment: Second-quarter revenue rose approximately 24% year over year to about $4 billion, while adjusted earnings exceeded expectations. Management also highlighted more than $1 billion in AI-related contract value, suggesting AI agents are adding consumption-based revenue rather than simply reducing software-seat demand. ServiceNow Stock Opinions on Q2 Earnings Results
• Positive Sentiment: Analyst commentary remains constructive, with reported price targets materially above the recent trading level. One bullish analysis raised its fair-value estimate to $160, citing accelerating user retention, strong organic growth, pricing power in AI products and a long-term target of $30 billion to $32 billion in subscription revenue. ServiceNow User Retention Is Accelerating
• Neutral Sentiment: Dynamic Lifecycle Innovations launched an IT asset-disposition application on ServiceNow, adding another example of partners expanding the platform’s use cases. The announcement is strategically supportive but is unlikely to materially change near-term revenue expectations. Dynamic Lifecycle Innovations launches new ServiceNow app
• Negative Sentiment: ServiceNow could eliminate up to 1,000 positions this year as part of a post-acquisition “rightsizing” effort. The cuts may improve efficiency and margins, but reports of continuing layoffs create execution, morale and integration concerns for investors. Exclusive: ServiceNow to cut up to 1K jobs

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.