ServiceNow (NYSE:NOW) Insider Sells $131,091.30 in Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline Canney sold 1,289 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $101.70, for a total value of $131,091.30. Following the completion of the transaction, the insider owned 30,042 shares of the company’s stock, valued at $3,055,271.40. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.

ServiceNow Trading Down 3.3%

NOW traded down $3.41 during trading on Tuesday, reaching $99.35. The company had a trading volume of 18,934,472 shares, compared to its average volume of 20,141,456. The firm’s 50-day simple moving average is $134.49 and its 200 day simple moving average is $114.55. The company has a market cap of $103.13 billion, a price-to-earnings ratio of 56.15, a PEG ratio of 2.01 and a beta of 1.00. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $175.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the firm posted $4.82 EPS. ServiceNow’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 2.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $160.00 price target on shares of ServiceNow in a report on Thursday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Cantor Fitzgerald lifted their price objective on shares of ServiceNow from $174.00 to $201.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Canaccord Genuity Group set a $145.00 target price on shares of ServiceNow in a research note on Thursday, October 29th. Finally, Stifel Nicolaus set a $160.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.50.

Hedge Funds Weigh In On ServiceNow

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of ServiceNow during the second quarter worth approximately $9,536,615,000. State Street Corp increased its stake in ServiceNow by 2.0% in the 2nd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in ServiceNow by 16.6% in the 2nd 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 period. Amundi lifted its position in ServiceNow by 60.9% in the 1st quarter. Amundi now owns 11,479,098 shares of the information technology services provider’s stock worth $1,200,140,000 after buying an additional 4,346,722 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in ServiceNow by 8.8% in the 3rd quarter. Fisher Asset Management LLC now owns 8,724,159 shares of the information technology services provider’s stock worth $1,169,125,000 after buying an additional 705,841 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Kyndryl and ServiceNow launched a jointly developed autonomous-operations offering on the ServiceNow Store. The AI-powered product is designed to improve productivity and automate IT issue resolution, supporting the case for ServiceNow’s AI opportunity. Kyndryl expands partnership with ServiceNow
• Positive Sentiment: Broward County, Florida, has gone live with ServiceNow’s IT Service Management and Workflow Data Fabric, providing a concrete public-sector deployment that may help demonstrate customer adoption of its workflow platform. Broward County selects ServiceNow
• Neutral Sentiment: Institutional ownership reports were mixed: 71 West Capital Partners increased its stake, while Alps Advisors reduced its position. These filings reflect differing investor views and may have limited near-term significance. 71 West Capital Partners increases stake
• Negative Sentiment: Shares weakened as Anthropic introduced new Claude tools, renewing fears that AI products could intensify competition or erode demand for enterprise software. The concern is part of a broader slide in software stocks. ServiceNow stock drops amid Anthropic’s new AI tools
• Negative Sentiment: Reports describe a steep recent decline, with investors still reacting to the October quarterly results: revenue exceeded estimates and grew year over year, but EPS came in slightly below consensus. A Pomerantz law firm investigation into potential investor claims adds another source of uncertainty, although an investigation is not a finding of wrongdoing. Pomerantz investigation notice

ServiceNow Company Profile

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.