Trust Co of Kansas Raises Stake in ServiceNow, Inc. $NOW

Trust Co of Kansas increased its position in ServiceNow, Inc. (NYSE:NOW) by 611.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,932 shares of the information technology services provider’s stock after acquiring an additional 25,723 shares during the period. ServiceNow comprises about 2.1% of Trust Co of Kansas’ holdings, making the stock its 20th biggest position. Trust Co of Kansas’ holdings in ServiceNow were worth $4,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NOW. Vanguard Group Inc. grew its stake in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. Geode Capital Management LLC raised its position in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after buying an additional 18,854,775 shares during the period. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at about $2,020,992,000. Capital International Investors grew its stake in ServiceNow by 396.0% during the fourth quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock worth $1,592,310,000 after buying an additional 8,297,818 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of ServiceNow by 404.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock valued at $1,279,416,000 after acquiring an additional 6,695,802 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NOW shares. Mizuho cut their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Raymond James Financial dropped their target price on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Benchmark initiated coverage on ServiceNow in a research report on Wednesday, April 1st. They set a “buy” rating and a $125.00 price target on the stock. Stifel Nicolaus cut their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Weiss Ratings downgraded ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction on Monday, May 18th. The shares were 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 in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. 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 worth $2,529,956 over the last quarter. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $112.45 on Monday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The stock’s 50-day moving average price is $99.48 and its two-hundred day moving average price is $121.71. 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 cap of $115.94 billion, a PE ratio of 67.02, a PEG ratio of 1.86 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The firm 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 company’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

ServiceNow Company 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.