ServiceNow, Inc. $NOW Stock Holdings Lessened by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 33.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 223,098 shares of the information technology services provider’s stock after selling 114,246 shares during the period. Mawer Investment Management Ltd.’s holdings in ServiceNow were worth $29,897,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Addison Advisors LLC raised its holdings in shares of ServiceNow by 392.7% during the third quarter. Addison Advisors LLC now owns 542 shares of the information technology services provider’s stock valued at $73,000 after acquiring an additional 432 shares in the last quarter. Cornerstone Advisors LLC boosted its holdings in ServiceNow by 15.0% in the third quarter. Cornerstone Advisors LLC now owns 138,797 shares of the information technology services provider’s stock valued at $18,600,000 after acquiring an additional 18,057 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in ServiceNow by 2.5% in the third quarter. Moors & Cabot Inc. now owns 52,001 shares of the information technology services provider’s stock valued at $6,969,000 after acquiring an additional 1,251 shares in the last quarter. Allworth Financial LP boosted its holdings in ServiceNow by 2.4% in the third quarter. Allworth Financial LP now owns 32,824 shares of the information technology services provider’s stock valued at $4,399,000 after acquiring an additional 781 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in ServiceNow by 8.8% during the 3rd quarter. Fisher Asset Management LLC now owns 8,724,159 shares of the information technology services provider’s stock valued at $1,169,125,000 after purchasing an additional 705,841 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Recent ServiceNow Headlines

Investors following NOW have been watching these headlines:

• Positive Sentiment: ServiceNow was cited as an AI stock to consider after Wells Fargo improved its outlook on the AI infrastructure trade. Separately, the article reports that Argus still rates the stock a Buy, offering a supportive analyst view despite the steep decline. Article: Argus rates ServiceNow a Buy
• Neutral Sentiment: ServiceNow shares were reported to be about 42% below their high, with another article citing a 40.5% decline over 12 months. The pullback may draw value-focused investors, but it also reflects pressure on AI software stocks and leaves the market weighing the company’s growth prospects against its valuation. Article: ServiceNow valuation and AI partnership news
• Negative Sentiment: A law firm announced an investigation into potential claims on behalf of ServiceNow investors. The announcement does not establish wrongdoing, but could create a reputational or legal overhang as more information emerges. Article: Pomerantz investigation announcement

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of ServiceNow from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Cantor Fitzgerald boosted their price target on shares of ServiceNow from $174.00 to $201.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. BTIG Research reduced their price target on shares of ServiceNow from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Finally, Deutsche Bank increased their price target on shares of ServiceNow from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $154.50.

Insider Transactions at ServiceNow

In related news, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the transaction, the director owned 43,990 shares of the company’s stock, valued at $5,960,645. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the transaction, the insider owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,870 shares of company stock valued at $1,880,595 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 1.5%

Shares of NYSE:NOW traded up $1.48 during midday trading on Friday, reaching $102.14. The company’s stock had a trading volume of 8,448,012 shares, compared to its average volume of 20,155,038. 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. The firm has a 50 day moving average of $132.09 and a 200-day moving average of $114.07. The firm has a market capitalization of $106.02 billion, a P/E ratio of 73.48, a PEG ratio of 1.97 and a beta of 1.00.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter last year, the company posted $4.82 EPS. ServiceNow’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 2.12 earnings per share for the current year.

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.