ServiceNow, Inc. $NOW Holdings Trimmed by Werba Rubin Papier Wealth Management

Werba Rubin Papier Wealth Management trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 65.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,466 shares of the information technology services provider’s stock after selling 15,830 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in ServiceNow were worth $1,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in ServiceNow in the second quarter valued at approximately $9,536,615,000. Bank of New York Mellon Corp purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $712,573,000. Legal & General Group Plc bought a new position in shares of ServiceNow in the second quarter worth approximately $641,888,000. Bank of America Corp DE bought a new position in shares of ServiceNow in the second quarter worth approximately $627,355,000. Finally, Deutsche Bank AG purchased a new position in shares of ServiceNow in the second quarter worth $595,157,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW stock opened at $100.65 on Friday. The business’s fifty day moving average is $132.97 and its 200 day moving average is $114.22. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. The stock has a market cap of $104.47 billion, a price-to-earnings ratio of 72.41, a PEG ratio of 2.01 and a beta of 1.00. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $175.00.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the business posted $4.82 EPS. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Key Headlines Impacting ServiceNow

Here are a few of the latest headlines about NOW:

• Positive Sentiment: Argus maintains a Buy rating, citing ServiceNow’s AI opportunity despite shares trading well below their high. The company also appeared on a list of AI stocks following Wells Fargo’s more constructive outlook on AI infrastructure. Argus still rates ServiceNow a Buy
• Neutral Sentiment: LicenseFortress added ServiceNow to its software-licensing advisory services, including cost reviews and renewal support. This may help customers manage licensing but does not directly signal new ServiceNow revenue. LicenseFortress expands services to include ServiceNow
• Negative Sentiment: A Pomerantz law firm investigation into potential investor claims adds uncertainty; the announcement does not establish wrongdoing. Pomerantz investigation announcement

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the sale, the insider owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Chamberlain sold 2,700 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the sale, the director owned 43,990 shares in the company, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,870 shares of company stock valued at $1,880,595 in the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. Royal Bank Of Canada set a $165.00 price target on shares of ServiceNow and gave the company an “outperform” rating in a report on Thursday, October 29th. Needham & Company LLC raised their price target on shares of ServiceNow from $115.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Guggenheim reissued a “buy” rating and issued a $175.00 price target (up from $125.00) on shares of ServiceNow in a report on Friday, October 23rd. Deutsche Bank boosted their price objective on shares of ServiceNow from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, September 21st. Finally, Yorkville Ives began coverage on shares of ServiceNow in a research note on Monday, October 5th. They set an “outperform” rating and a $160.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $154.50.

ServiceNow Company Profile

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.