The Manufacturers Life Insurance Company Reduces Stock Position in ServiceNow, Inc. $NOW

The Manufacturers Life Insurance Company reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 8.3% in the first quarter, Holdings Channel.com reports. The fund owned 875,597 shares of the information technology services provider’s stock after selling 78,882 shares during the period. The Manufacturers Life Insurance Company’s holdings in ServiceNow were worth $91,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in NOW. Covenant Asset Management LLC grew its stake in ServiceNow by 169.2% in the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after buying an additional 13,114 shares in the last quarter. Norges Bank purchased a new stake in shares of ServiceNow during the 4th quarter valued at $2,020,992,000. World Investment Advisors lifted its holdings in shares of ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after acquiring an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC lifted its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Moors & Cabot Inc. grew its position in ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after acquiring an additional 36,274 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NOW shares. Capital One Financial raised their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. BTIG Research reiterated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a report on Wednesday, July 22nd. Citic Securities reduced their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Piper Sandler reissued an “overweight” rating and set a $140.00 price objective on shares of ServiceNow in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $145.00 target price (down from $163.00) on shares of ServiceNow in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.39.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,144 shares of company stock valued at $1,730,097 in the last ninety days. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $115.71 on Thursday. The company has a 50-day simple moving average of $105.24 and a two-hundred day simple moving average of $106.62. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $198.61. The firm has a market cap of $119.64 billion, a price-to-earnings ratio of 72.32, a PEG ratio of 1.95 and a beta of 0.96.

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, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: CEO Bill McDermott said ServiceNow has a “kill switch” and other controls that can stop autonomous AI agents if they behave unexpectedly. The comments may ease concerns about enterprise AI safety and support adoption of ServiceNow’s agentic-AI products. ServiceNow CEO admits there’s a solution to AI’s biggest problem
• Positive Sentiment: Analysts and industry coverage point to accelerating customer adoption of agentic AI, expanding AI products and workflow automation as potential drivers of ServiceNow’s next phase of growth. Recent quarterly results—24% year-over-year revenue growth, revenue and earnings above estimates, and raised guidance—provide support for the bullish thesis. Can Agentic AI Adoption Fuel ServiceNow’s Next Phase of Growth?
• Positive Sentiment: ServiceNow is also being viewed as more than an AI software stock: its expanding cybersecurity business could become another meaningful growth engine. Shares were reported to be holding above key moving averages, reinforcing near-term investor momentum. ServiceNow’s Q2 Earnings Showed It’s More Than an AI Stock
• Neutral Sentiment: Several valuation articles describe NOW as attractive because of its growth and AI exposure, while comparisons with peers such as Salesforce highlight that the stock still trades at a premium. That premium could limit upside if growth expectations weaken. ServiceNow Vs. Salesforce: The Valuation Gap Has Closed, But The Growth Gap Hasn’t
• Negative Sentiment: ServiceNow cut hundreds of jobs as part of a global restructuring and increased efficiency focus. The reductions may improve costs, but they also underscore broader software-sector pressure and potential execution risks during the company’s AI transition. ServiceNow cut hundreds of jobs to streamline operations

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.