ServiceNow, Inc. $NOW Stake Lifted by New York Life Investment Management LLC

New York Life Investment Management LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 173,947 shares of the information technology services provider’s stock after acquiring an additional 5,586 shares during the quarter. New York Life Investment Management LLC’s holdings in ServiceNow were worth $23,311,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NOW. Cornerstone Financial Management LLC increased its holdings in shares of ServiceNow by 72.8% during 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 in the last quarter. Pathway Financial Advisers LLC purchased a new stake in ServiceNow during the third quarter worth $38,000. Marquette Asset Management LLC boosted its holdings in ServiceNow by 75.0% during the second quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock worth $30,000 after buying an additional 129 shares in the last quarter. Kilter Group LLC purchased a new stake in ServiceNow during the second quarter worth $31,000. Finally, Solstein Capital LLC acquired a new stake in ServiceNow during the second quarter valued at $35,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at $2,706,760.35. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline Canney sold 7,847 shares of the 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 directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,370 shares of company stock worth $2,068,995 in the last ninety days. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NOW. Oppenheimer reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ServiceNow in a report on Thursday, October 29th. Piper Sandler reissued an “overweight” rating and set a $175.00 target price on shares of ServiceNow in a research note on Thursday, October 29th. Jefferies Financial Group set a $145.00 target price on shares of ServiceNow in a research note on Thursday, October 29th. Mizuho set a $165.00 target price on ServiceNow in a research report on Thursday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on ServiceNow from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.50.

Key Stories Impacting ServiceNow

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 Stock Performance

NOW opened at $99.35 on Wednesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $175.00. The firm has a market capitalization of $103.13 billion, a PE ratio of 71.48, a PEG ratio of 2.01 and a beta of 1.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $134.49 and its 200 day moving average price is $114.55.

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

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.