Mackenzie Financial Corp Has $176.39 Million Holdings in ServiceNow, Inc. $NOW

Mackenzie Financial Corp lessened its position in ServiceNow, Inc. (NYSE:NOW) by 4.2% in the 3rd quarter, Holdings Channel reports. The fund owned 191,672 shares of the information technology services provider’s stock after selling 8,344 shares during the period. Mackenzie Financial Corp’s holdings in ServiceNow were worth $176,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Quadrant Capital Group LLC boosted its position in shares of ServiceNow by 8.1% in the third quarter. Quadrant Capital Group LLC now owns 5,036 shares of the information technology services provider’s stock worth $4,635,000 after buying an additional 378 shares during the period. Van ECK Associates Corp increased its holdings in shares of ServiceNow by 10.7% in the 3rd quarter. Van ECK Associates Corp now owns 12,114 shares of the information technology services provider’s stock valued at $11,148,000 after purchasing an additional 1,169 shares during the period. FourThought Financial Partners LLC lifted its position in shares of ServiceNow by 2.6% in the third quarter. FourThought Financial Partners LLC now owns 6,985 shares of the information technology services provider’s stock worth $6,428,000 after purchasing an additional 178 shares in the last quarter. Capital International Sarl lifted its position in ServiceNow by 5.5% in the 3rd quarter. Capital International Sarl now owns 40,020 shares of the information technology services provider’s stock worth $36,830,000 after buying an additional 2,076 shares in the last quarter. Finally, Capital International Ltd. CA boosted its stake in shares of ServiceNow by 1.4% during the 3rd quarter. Capital International Ltd. CA now owns 23,088 shares of the information technology services provider’s stock valued at $21,247,000 after buying an additional 309 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on NOW. BNP Paribas Exane dropped their price target on shares of ServiceNow from $186.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. BMO Capital Markets lowered their target price on ServiceNow from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Thursday, January 29th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target (down from $200.00) on shares of ServiceNow in a research note on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of ServiceNow in a report on Thursday, January 29th. Finally, Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.06.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cohesity partnership strengthens ServiceNow’s position for enterprise AI agents by adding real-time recovery and resilience for autonomous agents — makes deployments more enterprise-ready and reduces operational risk for customers. Read More.
• Positive Sentiment: ServiceNow expands healthcare footprint with Aiva voice-AI integration to drive bedside, clinician and operational workflows — a practical, revenue-accretive use case that can accelerate enterprise adoption in hospitals. Read More.
• Positive Sentiment: Insider and institutional buying signaling conviction in ServiceNow’s AI strategy; reports note CEO purchases and “superinvestors” adding shares — supports medium-term fundamentals. Read More.
• Neutral Sentiment: Company continues to roll out AI products (Autonomous Workforce, EmployeeWorks) and partnerships globally; recognition in industry reports (Forrester) supports positioning but monetization timelines remain key. Read More.
• Negative Sentiment: Near-term pressure from analyst downgrades/price-target cuts and profit-taking: coverage notes a price-target cut prompting some selling and contributing to today’s decline. Read More.
• Negative Sentiment: Technicals and volume: stock is trading below recent moving averages (50-day ~$122, 200-day ~$157) with above-average volume — amplifies downside risk while the market digests guidance/estimates. Read More.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the sale, the insider owned 11,757 shares of the company’s stock, valued at $1,245,419.01. This trade represents a 45.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider owned 26,314 shares of the company’s stock, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,237 shares of company stock worth $1,697,162. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 4.5%

Shares of NOW stock opened at $116.42 on Wednesday. The stock has a market cap of $121.77 billion, a price-to-earnings ratio of 69.79, a P/E/G ratio of 2.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. ServiceNow, Inc. has a 52-week low of $98.00 and a 52-week high of $211.48. The firm has a fifty day moving average of $121.48 and a 200-day moving average of $156.38.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period in the prior year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.