The Manufacturers Life Insurance Company Makes New Investment in ServiceNow, Inc. $NOW

The Manufacturers Life Insurance Company purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 674,659 shares of the information technology services provider’s stock, valued at approximately $66,980,000. The Manufacturers Life Insurance Company owned 0.07% of ServiceNow at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOW. Brighton Jones LLC raised its holdings in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after purchasing an additional 34 shares during the last quarter. United Bank grew its position in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its position in ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC grew its position in ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s expanded, multiyear AI partnership with Tech Mahindra is intended to accelerate enterprise deployments, strengthen AI governance and support monetization. The agreement could improve ServiceNow’s competitive position against Salesforce and Microsoft. Can NOW’s Tech Mahindra Deal Boost Its AI Edge Over CRM & MSFT?
• Positive Sentiment: ServiceNow partners are building implementation and advisory offerings around its AI platform. CoreX’s launch of AI Horizon highlights growing ecosystem support and may help customers adopt AI-native workflows, potentially increasing platform usage and services demand. CoreX Launches AI Horizon to Guide Enterprises to AI-Native Work
• Positive Sentiment: Bank of America’s decision to raise price targets across software stocks suggests analysts see the sector selloff as potentially stabilizing, providing a more supportive backdrop for NOW. Bank of America raises price targets on 10 software stocks
• Neutral Sentiment: Analysts view ServiceNow as a major beneficiary of AI-driven enterprise workflow spending, but the stock’s move toward the $150 area makes continued gains dependent on stronger execution, growth and evidence that AI products are generating material revenue. ServiceNow Just Ripped 29% in a Month
• Negative Sentiment: Datadog is currently favored over ServiceNow because of faster growth, stronger earnings surprises and expanding AI opportunities, reinforcing concerns that NOW’s premium valuation may be difficult to sustain. DDOG vs. NOW: Which Cloud Software Stock Has an Edge Right Now?
• Negative Sentiment: Investors remain concerned that AI-generated or “vibe-coded” applications could eventually reduce demand for traditional SaaS platforms, including ServiceNow. Questions about acquisitions and capital allocation add further risk, while a broader rotation away from technology could limit near-term upside.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on NOW. Barclays reissued an “overweight” rating and set a $134.00 price target (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Sanford C. Bernstein restated an “outperform” rating and issued a $248.00 price objective (up from $236.00) on shares of ServiceNow in a report on Thursday, July 23rd. Cantor Fitzgerald lifted their target price on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Wednesday, July 1st. Finally, Truist Financial increased their price target on ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Stock Performance

Shares of NOW opened at $126.98 on Wednesday. The firm has a 50-day moving average of $109.87 and a 200-day moving average of $105.90. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The company has a market cap of $131.29 billion, a PE ratio of 79.36, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW) last issued its earnings results 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 net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the firm earned $0.81 EPS. ServiceNow’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

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.