The Manufacturers Life Insurance Company Purchases New Position in ServiceNow, Inc. $NOW

The Manufacturers Life Insurance Company purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 674,659 shares of the information technology services provider’s stock, valued at approximately $66,980,000.

Several other hedge funds have also recently bought and sold shares of the stock. Wealth Watch Advisors INC acquired a new stake in ServiceNow during the 3rd quarter worth approximately $29,000. Kelleher Financial Advisors acquired a new position in ServiceNow in the 3rd quarter valued at $50,000. Pin Oak Investment Advisors Inc. increased its position in ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after buying an additional 23 shares during the period. Jupiter Wealth Management LLC bought a new position in ServiceNow during the 2nd quarter worth $154,000. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NOW stock opened at $126.98 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $131.29 billion, a price-to-earnings ratio of 79.36, a P/E/G ratio of 2.25 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The company has a 50 day simple moving average of $109.87 and a 200 day simple moving average of $105.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. Research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s expanded, multiyear AI partnership with Tech Mahindra is intended to accelerate enterprise deployments, strengthen AI governance and support monetization. The agreement could improve ServiceNow’s competitive position against Salesforce and Microsoft. Can NOW’s Tech Mahindra Deal Boost Its AI Edge Over CRM & MSFT?
• Positive Sentiment: ServiceNow partners are building implementation and advisory offerings around its AI platform. CoreX’s launch of AI Horizon highlights growing ecosystem support and may help customers adopt AI-native workflows, potentially increasing platform usage and services demand. CoreX Launches AI Horizon to Guide Enterprises to AI-Native Work
• Positive Sentiment: Bank of America’s decision to raise price targets across software stocks suggests analysts see the sector selloff as potentially stabilizing, providing a more supportive backdrop for NOW. Bank of America raises price targets on 10 software stocks
• Neutral Sentiment: Analysts view ServiceNow as a major beneficiary of AI-driven enterprise workflow spending, but the stock’s move toward the $150 area makes continued gains dependent on stronger execution, growth and evidence that AI products are generating material revenue. ServiceNow Just Ripped 29% in a Month
• Negative Sentiment: Datadog is currently favored over ServiceNow because of faster growth, stronger earnings surprises and expanding AI opportunities, reinforcing concerns that NOW’s premium valuation may be difficult to sustain. DDOG vs. NOW: Which Cloud Software Stock Has an Edge Right Now?
• Negative Sentiment: Investors remain concerned that AI-generated or “vibe-coded” applications could eventually reduce demand for traditional SaaS platforms, including ServiceNow. Questions about acquisitions and capital allocation add further risk, while a broader rotation away from technology could limit near-term upside.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director directly owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NOW shares. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. BTIG Research reissued a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a report on Wednesday, July 22nd. Capital One Financial increased their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, UBS Group set a $248.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $144.24.

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.