KBC Group NV Decreases Stock Holdings in ServiceNow, Inc. $NOW

KBC Group NV lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,064 shares of the information technology services provider’s stock after selling 216,925 shares during the quarter. KBC Group NV owned about 0.06% of ServiceNow worth $61,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Little House Capital LLC raised its stake in shares of ServiceNow by 47.7% during the 1st quarter. Little House Capital LLC now owns 16,303 shares of the information technology services provider’s stock worth $1,704,000 after acquiring an additional 5,268 shares in the last quarter. True North Advisors LLC boosted its stake in ServiceNow by 12.1% in the first quarter. True North Advisors LLC now owns 3,105 shares of the information technology services provider’s stock valued at $325,000 after acquiring an additional 335 shares in the last quarter. SEB Asset Management AB acquired a new stake in ServiceNow in the first quarter valued at approximately $50,673,000. Swiss National Bank grew its holdings in ServiceNow by 6.8% in the first quarter. Swiss National Bank now owns 3,044,540 shares of the information technology services provider’s stock worth $318,307,000 after purchasing an additional 194,640 shares during the last quarter. Finally, Valley Wealth Managers Inc. grew its holdings in ServiceNow by 52.6% in the first quarter. Valley Wealth Managers Inc. now owns 6,211 shares of the information technology services provider’s stock worth $649,000 after purchasing an additional 2,142 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 from $122 and reiterated an overweight view, signaling confidence that the stock can recover from current levels. Benzinga report
• Positive Sentiment: Analysts and bullish articles argue ServiceNow’s AI strategy is more about execution than disruption, with the company’s workflow platform and recent integration updates with Ciroos and Esri seen as supportive of long-term demand. ServiceNow (NOW) Adds Ciroos And Esri To Bring AI And GIS Into Workflows
• Positive Sentiment: Multiple previews ahead of earnings highlight that ServiceNow’s own numbers have been contradicting the bearish AI narrative, which could help investor sentiment if results hold up. ServiceNow Is Down 51% as Wall Street Bets AI Will Gut Its Business. July 22 Will Show Who’s Right.
• Positive Sentiment: Commentary from value investors says the stock’s decline may be creating a long-term buying opportunity if fundamentals remain solid, which can support dip-buying interest. Should You Buy ServiceNow (NOW) Before Earnings?
• Neutral Sentiment: Wall Street is focused on upcoming quarterly results and key operating metrics, making the next earnings report the main near-term catalyst for the stock. Unveiling ServiceNow (NOW) Q2 Outlook: Wall Street Estimates for Key Metrics
• Negative Sentiment: A critical ServiceNow code execution flaw is reportedly being exploited in attacks, which could raise security concerns and create a temporary headline overhang. Critical ServiceNow code execution flaw now exploited in attacks

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NOW shares. JPMorgan Chase & Co. decreased their price objective on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Oppenheimer restated an “outperform” rating and set a $140.00 target price (up from $130.00) on shares of ServiceNow in a research note on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, HSBC lowered their price target on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.12.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred 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 directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.6%

Shares of NOW stock opened at $104.90 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The firm has a market capitalization of $108.15 billion, a PE ratio of 62.51, a P/E/G ratio of 1.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day simple moving average is $104.24 and its 200-day simple moving average is $108.92.

ServiceNow (NYSE:NOW) last released its earnings results 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 the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Equities analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current year.

ServiceNow 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.