ServiceNow, Inc. $NOW Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 22.9% in the second quarter, Holdings Channel.com reports. The fund owned 674,659 shares of the information technology services provider’s stock after selling 200,938 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ServiceNow were worth $66,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in shares of ServiceNow by 9,980.9% in the 2nd quarter. California State Teachers Retirement System now owns 154,496,061 shares of the information technology services provider’s stock valued at $15,338,369,000 after purchasing an additional 152,963,494 shares in the last quarter. BlackRock Inc. acquired a new stake in ServiceNow during the 2nd quarter worth approximately $9,536,615,000. State Street Corp raised its holdings in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after buying an additional 25,517,218 shares during the period. Finally, Geode Capital Management LLC lifted its position in ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Needham raises ServiceNow target to $155: Needham & Company upgraded NOW to “buy” and increased its price target from $115 to $155, implying approximately 17% upside from the referenced share price. The move was part of a broader group of analyst target increases and is the clearest near-term catalyst for the stock. ServiceNow analyst forecasts
• Positive Sentiment: Agentic AI adoption is accelerating: ServiceNow is described as a leader in enterprise agentic AI, with production deployments increasing ninefold over nine months. Analysts expect AI-related revenue to grow substantially through 2030, supporting the long-term growth narrative. ServiceNow agentic AI analysis
• Positive Sentiment: Expanded AI visibility and ecosystem activity: ServiceNow will partner with Fortune on an October AI summit focused on commercializing AI, while RoboMQ launched an identity-governance application on the ServiceNow Store. These developments reinforce ServiceNow’s positioning as an enterprise workflow and AI platform, although they are unlikely to materially affect near-term revenue. Fortune AIQ Summit partnership
• Neutral Sentiment: Coverage on AI and cybersecurity highlights ServiceNow’s strategic relevance as businesses seek integrated automation, security and governance tools. However, the reports provide limited new financial guidance. AI and cybersecurity reshaping ServiceNow
• Negative Sentiment: Despite its growth prospects, AI revenue remains a relatively small portion of ServiceNow’s overall business, and the stock’s elevated valuation leaves it sensitive to any slowdown in enterprise spending or AI monetization.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline Canney sold 7,847 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 30,042 shares of the company’s stock, valued at $4,145,796. This represents a 20.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the sale, the director owned 43,990 shares of the company’s stock, valued at $5,960,645. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,081 shares of company stock worth $1,937,904 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NOW shares. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, July 1st. Benchmark restated a “buy” rating on shares of ServiceNow in a report on Friday, July 17th. Cantor Fitzgerald upped their price target on shares of ServiceNow from $122.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Evercore reiterated an “outperform” rating and issued a $160.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $145.71.

ServiceNow Trading Up 1.0%

NOW opened at $132.49 on Friday. The firm’s 50 day moving average is $120.27 and its 200-day moving average is $108.91. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $136.99 billion, a P/E ratio of 82.81, a P/E/G ratio of 2.41 and a beta of 0.97.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Analysts expect that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc is a cloud-based enterprise software company that provides digital workflow and automation solutions. Its Now Platform enables organizations to manage and connect business processes across information technology, customer service, human resources, finance, legal operations and other departments.

The company’s products and services include IT service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance management, strategic portfolio management and application development tools.