Munich Reinsurance Co Stock Corp in Munich Decreases Position in ServiceNow, Inc. $NOW

Munich Reinsurance Co Stock Corp in Munich lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 41.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,028 shares of the information technology services provider’s stock after selling 34,077 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in ServiceNow were worth $5,126,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Florida Financial Advisors LLC grew its stake in shares of ServiceNow by 5.4% during the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after acquiring an additional 14 shares during the period. First Affirmative Financial Network raised its stake in ServiceNow by 1.7% in the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock valued at $821,000 after acquiring an additional 15 shares during the period. Nicolet Advisory Services LLC lifted its holdings in ServiceNow by 1.1% during the third quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock valued at $1,322,000 after purchasing an additional 16 shares during the last quarter. Opes Wealth Management LLC lifted its holdings in ServiceNow by 3.5% during the third quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock valued at $467,000 after purchasing an additional 17 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its position in ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. FBN Securities dropped their price target on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. UBS Group reiterated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Finally, DA Davidson reissued a “buy” rating and set a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $141.22.

ServiceNow Trading Down 2.6%

Shares of ServiceNow stock opened at $107.87 on Thursday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The company has a market cap of $111.22 billion, a price-to-earnings ratio of 64.29, a PEG ratio of 1.84 and a beta of 0.96. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $101.74 and its 200-day moving average price is $111.62.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow shares have been lifted by a broader rotation into beaten-down software stocks, with investors moving away from high-flying semiconductors and into enterprise software names. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Positive Sentiment: Traders are also reacting to a more constructive analyst tone and fresh AI product momentum, with Guggenheim reportedly dismissing the “software extinction” thesis and upgrading ServiceNow. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: ServiceNow is gaining attention for new AI and government/defense partnerships, including work tied to mission-critical biosurveillance and state health systems, which could expand its addressable market beyond workflow automation. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Another bullish angle is that outside coverage is arguing the “AI bear case” against ServiceNow is weakening, reinforcing the idea that the stock may still have upside despite valuation concerns. ServiceNow: The AI Bear Case Is Falling Apart
• Neutral Sentiment: Several recent pieces, including comparisons with Salesforce and EPAM, are largely valuation and strategy debates rather than immediate catalysts, so they are more likely to shape longer-term sentiment than today’s trading. EPAM or NOW: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: ServiceNow’s appearance in “most watched” and “final trades” media coverage is adding visibility, but these mentions do not appear to be tied to a fundamental business update. ServiceNow, Inc. (NOW) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Macro risk is still present for software stocks, as Middle East tensions pressured peers like Palantir and Salesforce; that kind of market weakness could spill over into ServiceNow if risk appetite fades. Palantir Leads Software Stocks Lower

Insider Activity

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last quarter. 0.34% of the stock is currently owned by company insiders.

About ServiceNow

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.