153,621 ServiceNow, Inc. $NOW Shares Sold by M&G PLC

M&G PLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 89.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,942 shares of the information technology services provider’s stock after selling 153,621 shares during the quarter. M&G PLC’s holdings in ServiceNow were worth $2,538,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC raised its stake in shares of ServiceNow by 72.8% in the second quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 107 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in ServiceNow during the 3rd quarter worth approximately $38,000. Marquette Asset Management LLC grew its position in ServiceNow by 75.0% during the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 129 shares during the last quarter. Kilter Group LLC acquired a new stake in ServiceNow during the 2nd quarter valued at $31,000. Finally, Solstein Capital LLC bought a new position in ServiceNow in the 2nd quarter valued at $35,000. 87.18% of the stock is owned by institutional investors.

Key Headlines Impacting ServiceNow

Investors following NOW have been watching these headlines:

• Positive Sentiment: A tech-led rebound lifted software stocks and helped ServiceNow shares rise in Wednesday trading. ServiceNow stock climbs
• 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

ServiceNow Price Performance

ServiceNow stock opened at $102.85 on Thursday. The business’s 50-day simple moving average is $133.69 and its 200 day simple moving average is $114.40. The stock has a market cap of $106.76 billion, a price-to-earnings ratio of 54.43, a P/E/G ratio of 1.95 and a beta of 1.00. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $175.00. 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 (NYSE:NOW) last announced 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 firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the firm posted $4.82 earnings per share. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.12 earnings per share for the current year.

Insider Activity

In other news, 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 completion of the sale, the director owned 43,990 shares in the company, valued at $5,960,645. The trade was a 5.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline Canney sold 7,847 shares of ServiceNow stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the sale, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 13,870 shares of company stock valued at $1,880,595. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOW has been the subject of a number of research analyst reports. Canaccord Genuity Group set a $145.00 price target on ServiceNow in a report on Thursday, October 29th. Bank of America increased their price objective on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Mizuho set a $165.00 price objective on shares of ServiceNow in a research report on Thursday, October 29th. Oppenheimer reissued an “outperform” rating and set a $165.00 price target on shares of ServiceNow in a research note on Thursday, October 29th. Finally, KeyCorp reissued an “underweight” rating and set a $110.00 price target (up from $85.00) on shares of ServiceNow in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.50.

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.