ServiceNow (NYSE:NOW) Insider Jacqueline Canney Sells 1,289 Shares of Stock

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline Canney sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $101.70, for a total transaction of $131,091.30. Following the completion of the transaction, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $3,055,271.40. This represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ServiceNow Stock Down 3.3%

NOW stock opened at $99.35 on Wednesday. The stock has a market capitalization of $103.13 billion, a P/E ratio of 71.48, a PEG ratio of 2.01 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $175.00. The company has a 50 day moving average price of $134.49 and a two-hundred day moving average price of $114.55.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm posted $4.82 earnings per share. The company’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 year.

ServiceNow News Roundup

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NOW shares. Robert W. Baird set a $185.00 target price on ServiceNow in a research note on Thursday, October 29th. Barclays set a $152.00 price target on ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, October 29th. BTIG Research lowered their price target on ServiceNow from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Royal Bank Of Canada set a $165.00 target price on shares of ServiceNow and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Finally, KeyCorp reissued an “underweight” rating and issued a $110.00 target price (up from $85.00) on shares of ServiceNow in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

Hedge Funds Weigh In On ServiceNow

Several large investors have recently added to or reduced their stakes in the company. Focus Advisor Solutions LLC boosted its holdings in shares of ServiceNow by 49.3% during the third quarter. Focus Advisor Solutions LLC now owns 34,451 shares of the information technology services provider’s stock valued at $4,617,000 after acquiring an additional 11,380 shares during the period. Colonial Trust Co SC raised its holdings in ServiceNow by 18.9% during the third quarter. Colonial Trust Co SC now owns 4,643 shares of the information technology services provider’s stock worth $622,000 after purchasing an additional 738 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in ServiceNow by 7.4% during the third quarter. Checchi Capital Advisers LLC now owns 5,546 shares of the information technology services provider’s stock worth $743,000 after purchasing an additional 380 shares in the last quarter. Independent Advisor Alliance lifted its position in ServiceNow by 2.9% in the third quarter. Independent Advisor Alliance now owns 72,068 shares of the information technology services provider’s stock worth $9,273,000 after purchasing an additional 2,032 shares during the period. Finally, Z3 Capital Partners LLC lifted its position in ServiceNow by 29.5% in the third quarter. Z3 Capital Partners LLC now owns 17,380 shares of the information technology services provider’s stock worth $2,329,000 after purchasing an additional 3,960 shares during the period. 87.18% of the stock is currently owned by institutional investors.

About ServiceNow

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.