Sei Investments Co. Sells 1,000,374 Shares of ServiceNow, Inc. $NOW

Sei Investments Co. cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 51.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 926,460 shares of the information technology services provider’s stock after selling 1,000,374 shares during the quarter. Sei Investments Co.’s holdings in ServiceNow were worth $96,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MWA Asset Management lifted its stake in ServiceNow by 33.5% in the first quarter. MWA Asset Management now owns 10,631 shares of the information technology services provider’s stock worth $1,112,000 after acquiring an additional 2,670 shares during the period. Alamar Capital Management LLC purchased a new position in shares of ServiceNow during the 1st quarter worth approximately $1,175,000. Davis R M Inc. raised its position in shares of ServiceNow by 5.3% in the 1st quarter. Davis R M Inc. now owns 161,587 shares of the information technology services provider’s stock worth $16,894,000 after acquiring an additional 8,128 shares in the last quarter. Monograph Wealth Advisors LLC bought a new position in shares of ServiceNow in the 1st quarter worth approximately $444,000. Finally, State of Wyoming lifted its stake in shares of ServiceNow by 355.0% in the 1st quarter. State of Wyoming now owns 1,688 shares of the information technology services provider’s stock valued at $176,000 after purchasing an additional 1,317 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Benchmark reiterated a “buy” rating on shares of ServiceNow in a report on Friday, July 17th. Piper Sandler reissued an “overweight” rating and set a $140.00 price objective on shares of ServiceNow in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a research report on Thursday. Finally, KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.39.

ServiceNow Stock Up 7.4%

Shares of NYSE:NOW opened at $98.77 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.84 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $104.77 and a two-hundred day simple moving average of $107.70. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $201.15. The stock has a market capitalization of $101.83 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 1.54 and a beta of 0.96.

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 analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis. On average, research analysts anticipate that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the company’s 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 transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were 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 in the company, valued at $3,919,243.90. This trade represents a 3.23% 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. Insiders sold a total of 19,144 shares of company stock valued at $1,730,097 in the last quarter. 0.34% of the stock is owned by insiders.

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.