ServiceNow, Inc. $NOW Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. cut its position in ServiceNow, Inc. (NYSE:NOW) by 68.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,762 shares of the information technology services provider’s stock after selling 3,809 shares during the period. Simplify Asset Management Inc.’s holdings in ServiceNow were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Financial Management LLC raised its stake in ServiceNow by 72.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 107 shares during the last quarter. Marquette Asset Management LLC lifted its holdings in ServiceNow by 75.0% in the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 129 shares in the last quarter. Kilter Group LLC purchased a new position in ServiceNow in the 2nd quarter valued at $31,000. Solstein Capital LLC acquired a new stake in ServiceNow during the 2nd quarter worth $35,000. Finally, Main Street Group LTD acquired a new stake in ServiceNow during the 1st quarter worth $40,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow reported third-quarter revenue of $4.11 billion, up 20.5% year over year and above the $4.09 billion analyst estimate. Subscription revenue reached $3.988 billion, representing 21% growth. ServiceNow Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Management highlighted continued momentum in enterprise AI, including an expanded partnership with OpenAI to connect AI reasoning with governed business workflows and cybersecurity applications. ServiceNow and OpenAI partnership
• Positive Sentiment: HPE selected ServiceNow for a five-year agreement to support its Cloud & AI business, while ServiceNow also launched a Control Tower Alliance with major technology and security partners. These developments could support longer-term AI adoption and recurring revenue. HPE selects ServiceNow
• Neutral Sentiment: ServiceNow’s AI growth outlook remains a key long-term strength, but investors are scrutinizing whether accelerating AI bookings and multi-million-dollar deals can justify the company’s elevated valuation and sustain its recent share-price gains. ServiceNow AI outlook
• Negative Sentiment: Adjusted earnings were $1.00 per share, below the $1.02 consensus estimate and only modestly above $0.96 a year earlier. Acquisition-related costs ended a six-quarter streak of earnings beats, raising concerns about near-term profitability. ServiceNow Q3 earnings miss
• Negative Sentiment: The company’s fourth-quarter revenue outlook came in below Wall Street expectations. That guidance disappointed investors despite the revenue beat and helped drive the sharp decline in ServiceNow shares following the report. ServiceNow weak Q4 outlook

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $149.55 on Thursday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $192.97. The business’s fifty day simple moving average is $139.55 and its 200-day simple moving average is $115.79. The firm has a market cap of $154.63 billion, a PE ratio of 93.47, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.09 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.82 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 2.23 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the transaction, the insider owned 18,305 shares of the company’s stock, valued at $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director directly owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 14,081 shares of company stock worth $1,937,904. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of ServiceNow from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 price objective (up from $140.00) on shares of ServiceNow in a research note on Tuesday, October 13th. Piper Sandler increased their price objective on shares of ServiceNow from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, October 16th. Barclays reissued an “overweight” rating and issued a $160.00 target price (up from $134.00) on shares of ServiceNow in a research note on Tuesday, October 13th. Finally, Bank of America boosted their target price on ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.74.

About ServiceNow

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.