SouthState Bank Corp Reduces Holdings in ServiceNow, Inc. $NOW

SouthState Bank Corp decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.7% during the first quarter, HoldingsChannel reports. The fund owned 98,990 shares of the information technology services provider’s stock after selling 6,005 shares during the quarter. SouthState Bank Corp’s holdings in ServiceNow were worth $10,349,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Noble Wealth Management PBC grew its holdings in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC raised its position in ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC bought a new stake in ServiceNow in the fourth quarter worth about $25,000. Finally, Measured Wealth Private Client Group LLC boosted its position in shares of ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction 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 owned 30,090 shares of the company’s stock, 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 can be accessed through this link. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold a total of 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Down 5.7%

Shares of NYSE NOW opened at $104.90 on Wednesday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $210.20. The firm has a market capitalization of $108.15 billion, a price-to-earnings ratio of 62.51, a PEG ratio of 1.85 and a beta of 0.96. The stock has a 50 day moving average price of $103.20 and a 200 day moving average price of $110.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Canaccord Genuity Group cut their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. HSBC decreased their price target on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Wolfe Research set a $125.00 price objective on ServiceNow in a research report on Thursday, April 23rd. BMO Capital Markets cut their price objective on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, Morgan Stanley decreased their target price on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: UBS raised its price target on ServiceNow to $115 from $100, suggesting analysts still see upside and stable demand trends. Benzinga
• Positive Sentiment: New partner and government-contract announcements highlighted continued ecosystem momentum, including C1Secure’s ServiceNow-native FedRAMP 20x platform and Empower AI’s GSA enterprise IT award, both reinforcing ServiceNow’s role in AI-enabled workflow and public-sector modernization. Article Title Article Title
• Positive Sentiment: Recent commentary argues ServiceNow’s AI tools, including Now Assist, could become a stronger monetization driver as investors rotate toward application software. Article Title
• Neutral Sentiment: Several analyst-style articles debated ServiceNow’s valuation and long-term prospects, with some calling it attractive for the rebound and others saying it is not the cheapest name in software. Article Title Article Title
• Negative Sentiment: IBM’s revenue warning triggered a broader selloff in tech and dragged ServiceNow lower along with other enterprise software names like Accenture. Article Title 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.