Munich Reinsurance Co Stock Corp in Munich Cuts Holdings in ServiceNow, Inc. $NOW

Munich Reinsurance Co Stock Corp in Munich lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 97.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,156 shares of the information technology services provider’s stock after selling 47,872 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in ServiceNow were worth $115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Raiffeisen Bank International AG grew its holdings in shares of ServiceNow by 9.0% during the 2nd quarter. Raiffeisen Bank International AG now owns 245,116 shares of the information technology services provider’s stock worth $24,504,000 after purchasing an additional 20,219 shares during the period. CIBC Capital Markets Europe S.A. acquired a new position in ServiceNow during the second quarter valued at approximately $12,657,000. Lord & Richards Wealth Management LLC lifted its position in ServiceNow by 30.8% during the second quarter. Lord & Richards Wealth Management LLC now owns 11,104 shares of the information technology services provider’s stock valued at $1,102,000 after buying an additional 2,613 shares in the last quarter. Kampmann Melissa S. grew its stake in ServiceNow by 63.9% during the second quarter. Kampmann Melissa S. now owns 19,020 shares of the information technology services provider’s stock worth $1,888,000 after buying an additional 7,415 shares during the period. Finally, Barlow Wealth Partners LLC purchased a new stake in ServiceNow during the second quarter worth approximately $3,333,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NOW shares. JPMorgan Chase & Co. raised their target price on shares of ServiceNow from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. KeyCorp reiterated an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. Wells Fargo & Company reissued an “overweight” rating and issued a $175.00 price objective (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. UBS Group set a $248.00 price objective on ServiceNow in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. One investment 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 given 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 $144.24.

Insiders Place Their Bets

In related news, Director Paul Chamberlain sold 2,700 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Fipps sold 2,034 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the sale, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 14,081 shares of company stock valued at $1,937,904. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $141.31 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The firm’s 50-day simple moving average is $117.21 and its 200-day simple moving average is $107.95. The firm has a market cap of $146.11 billion, a PE ratio of 88.32, a price-to-earnings-growth ratio of 2.57 and a beta of 0.97.

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

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
• Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
• Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
• Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
• Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?

ServiceNow Company 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.