ABN Amro Investment Solutions Cuts Position in ServiceNow, Inc. $NOW

ABN Amro Investment Solutions decreased its position in ServiceNow, Inc. (NYSE:NOW) by 56.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,631 shares of the information technology services provider’s stock after selling 188,444 shares during the quarter. ABN Amro Investment Solutions’ holdings in ServiceNow were worth $15,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC raised its stake in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Blueline Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC lifted its holdings in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC grew its position in ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. 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. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Down 2.5%

Shares of NOW opened at $102.04 on Wednesday. The firm has a fifty day moving average price of $104.50 and a 200-day moving average price of $108.56. 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 firm has a market capitalization of $105.20 billion, a P/E ratio of 60.81, a P/E/G ratio of 1.75 and a beta of 0.96. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Equities research analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NOW shares. UBS Group boosted their price objective on ServiceNow from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group restated a “buy” rating and issued a $145.00 price target (down from $163.00) on shares of ServiceNow in a research report on Wednesday, July 8th. BTIG Research reiterated a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research report on Monday, June 29th. Stifel Nicolaus reduced their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Oppenheimer restated an “outperform” rating and issued a $140.00 target price (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.12.

Key Headlines Impacting 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

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.