ServiceNow, Inc. $NOW Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky decreased its position in ServiceNow, Inc. (NYSE:NOW) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,594 shares of the information technology services provider’s stock after selling 5,038 shares during the period. Independence Bank of Kentucky’s holdings in ServiceNow were worth $3,430,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in ServiceNow during the 2nd quarter valued at about $9,536,615,000. State Street Corp grew its holdings in shares of ServiceNow by 2.0% during the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock valued at $4,868,514,000 after buying an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ServiceNow by 16.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider’s stock valued at $1,651,828,000 after buying an additional 2,362,606 shares during the last quarter. Amundi increased its position in shares of ServiceNow by 60.9% during the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock valued at $1,200,140,000 after acquiring an additional 4,346,722 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of ServiceNow by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider’s stock valued at $891,491,000 after acquiring an additional 518,263 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOW has been the topic of several analyst reports. CLSA initiated coverage on ServiceNow in a research report on Monday, July 20th. They issued an “underperform” rating and a $72.00 price objective on the stock. Weiss Ratings upgraded ServiceNow from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. BTIG Research reissued a “buy” rating and issued a $170.00 target price on shares of ServiceNow in a report on Monday, October 12th. Mizuho set a $170.00 price target on ServiceNow and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $190.00 price target (up from $175.00) on shares of ServiceNow in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $155.74.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 7,847 shares of ServiceNow stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. The trade was a 20.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the sale, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,081 shares of company stock worth $1,937,904 over the last quarter. Company insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 2.1%

Shares of NOW stock opened at $154.84 on Wednesday. The company has a 50 day moving average price of $138.95 and a 200-day moving average price of $115.78. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $192.97.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Google Cloud expanded their partnership to connect ServiceNow Action Fabric with Gemini Enterprise. The integration is intended to help AI agents execute actions across enterprise workflows, strengthening ServiceNow’s position in agentic AI and potentially increasing customer adoption. ServiceNow, Google Cloud Expand Partnership to Cover Agentic AI
• Positive Sentiment: Analysts remain constructive ahead of earnings. Cantor Fitzgerald raised its price target to $201 from $174 and maintained an overweight rating, while Bank of America lifted its target to $180 and kept a buy rating. Morgan Stanley also reiterated its buy rating, citing strong execution, AI-led demand and federal-sector opportunities. Cantor Fitzgerald Price Target Bank of America Raises ServiceNow Price Target
• Neutral Sentiment: The consensus outlook calls for third-quarter revenue of approximately $4.09 billion, representing about 20% year-over-year growth. Investors are likely to focus on current remaining performance obligations (CRPO), subscription growth, AI monetization and forward guidance. ServiceNow Q3 Earnings Preview
• Negative Sentiment: ServiceNow’s recent rally has intensified valuation concerns. With a high price-to-earnings multiple, investors may already be pricing in substantial AI-driven growth. Rising costs, competition and the possibility of cautious guidance could pressure the shares if earnings fail to exceed elevated expectations. ServiceNow: The 3 Big Reasons I’m Bailing on This Stock Ahead of Earnings

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.