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

ServiceNow, Inc. (NYSE:NOW) insider Jacqueline Canney sold 1,289 shares of ServiceNow stock in a transaction dated 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 $3,055,271.40. This trade represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 Price Performance

Shares of NYSE:NOW opened at $102.85 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $175.00. The firm has a 50-day simple moving average of $133.69 and a 200 day simple moving average of $114.40. The company has a market cap of $106.76 billion, a PE ratio of 73.99, a P/E/G ratio of 1.95 and a beta of 1.00.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 return on equity of 15.17% and a net margin of 9.36%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the company earned $4.82 EPS. ServiceNow’s revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NOW. A. D. Beadell Investment Counsel Inc. increased its stake in shares of ServiceNow by 2.9% in the second quarter. A. D. Beadell Investment Counsel Inc. now owns 2,818 shares of the information technology services provider’s stock valued at $279,000 after purchasing an additional 80 shares during the period. DUTCH ASSET Corp boosted its position in shares of ServiceNow by 0.5% during the third quarter. DUTCH ASSET Corp now owns 16,331 shares of the information technology services provider’s stock worth $2,189,000 after buying an additional 82 shares during the period. Atwood & Palmer Inc. boosted its position in shares of ServiceNow by 20.0% during the second quarter. Atwood & Palmer Inc. now owns 600 shares of the information technology services provider’s stock worth $60,000 after buying an additional 100 shares during the period. Diligent Investors LLC boosted its position in shares of ServiceNow by 4.1% during the third quarter. Diligent Investors LLC now owns 2,560 shares of the information technology services provider’s stock worth $343,000 after buying an additional 100 shares during the period. Finally, Signature Wealth Management Partners LLC grew its holdings in ServiceNow by 3.3% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 3,281 shares of the information technology services provider’s stock worth $440,000 after buying an additional 106 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $165.00 price target on shares of ServiceNow in a research report on Thursday, October 29th. TD Cowen cut their price target on ServiceNow from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Stifel Nicolaus set a $160.00 price objective on ServiceNow and gave the company a “buy” rating in a research report on Tuesday, October 6th. Morgan Stanley restated an “overweight” rating and set a $160.00 price objective on shares of ServiceNow in a research note on Thursday, October 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $175.00 target price on shares of ServiceNow in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

Key Headlines Impacting ServiceNow

Investors following NOW have been watching these headlines:

• Positive Sentiment: ServiceNow’s expanding AI capabilities and its Google Cloud partnership—enabling Gemini Enterprise to carry out business workflows—could support long-term growth. However, the financial payoff from AI remains uncertain. Where Will ServiceNow Stock Be in 2 Years?
• Negative Sentiment: NOW has fallen about 29% over the past month, amid concerns that new AI tools from Anthropic could intensify competition for enterprise software providers. The selloff also follows the latest quarterly report: revenue grew 20.5% year over year and beat estimates, but earnings per share slightly missed consensus. ServiceNow drops 29% in a month
• Negative Sentiment: A law firm is investigating potential investor claims involving ServiceNow. The announcement adds uncertainty, but an investigation is not a finding of wrongdoing. Pomerantz investigation announcement

ServiceNow Company Profile

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.