ServiceNow, Inc. $NOW Shares Sold by Montaka Global Pty Ltd

Montaka Global Pty Ltd trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 12.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 65,864 shares of the information technology services provider’s stock after selling 9,780 shares during the quarter. ServiceNow comprises approximately 3.5% of Montaka Global Pty Ltd’s holdings, making the stock its 10th largest holding. Montaka Global Pty Ltd’s holdings in ServiceNow were worth $8,826,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Keybank National Association OH raised its stake in shares of ServiceNow by 18.6% during the 3rd quarter. Keybank National Association OH now owns 57,916 shares of the information technology services provider’s stock valued at $7,761,000 after buying an additional 9,088 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of ServiceNow by 11.4% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 9,015 shares of the information technology services provider’s stock valued at $1,208,000 after buying an additional 924 shares during the period. Triton Wealth Management PLLC purchased a new stake in shares of ServiceNow in the third quarter worth about $731,000. D.B. Root & Company LLC purchased a new stake in shares of ServiceNow in the third quarter worth about $205,000. Finally, D Orazio & Associates Inc. boosted its stake in shares of ServiceNow by 18.4% in the third quarter. D Orazio & Associates Inc. now owns 2,622 shares of the information technology services provider’s stock worth $351,000 after buying an additional 407 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the sale, the insider owned 18,305 shares in the company, valued at $2,706,760.35. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director directly owned 43,990 shares in the company, valued at approximately $5,960,645. The trade was a 5.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 15,370 shares of company stock valued at $2,068,995 over the last ninety days. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Down 3.3%

NYSE NOW opened at $99.35 on Wednesday. The business’s fifty day simple moving average is $134.49 and its 200-day simple moving average is $114.55. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. The firm has a market cap of $103.13 billion, a PE ratio of 71.48, a P/E/G ratio of 2.01 and a beta of 1.00. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $175.00.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the company posted $4.82 EPS. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOW. Yorkville Ives started coverage on ServiceNow in a research report on Monday, October 5th. They set an “outperform” rating and a $160.00 price target for the company. JPMorgan Chase & Co. upped their price objective on ServiceNow from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Citigroup lowered their price objective on ServiceNow from $170.00 to $157.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Truist Financial set a $150.00 target price on shares of ServiceNow and gave the company a “buy” rating in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.50.

More ServiceNow News

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

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.