40,442 ServiceNow, Inc. $NOW Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 2,254,638 shares of the information technology services provider’s stock after selling 40,442 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in ServiceNow were worth $302,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ServiceNow in the third quarter valued at about $65,477,000. ProShare Advisors LLC grew its stake in shares of ServiceNow by 1.0% in the third quarter. ProShare Advisors LLC now owns 197,106 shares of the information technology services provider’s stock valued at $26,414,000 after acquiring an additional 1,964 shares in the last quarter. Vise Technologies Inc. grew its stake in shares of ServiceNow by 26.1% in the third quarter. Vise Technologies Inc. now owns 52,722 shares of the information technology services provider’s stock valued at $7,065,000 after acquiring an additional 10,898 shares in the last quarter. Investment Partners LTD. bought a new position in ServiceNow during the third quarter worth about $268,000. Finally, Cidel Asset Management Inc. bought a new position in ServiceNow during the third quarter worth about $7,641,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline Canney sold 7,847 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares of the company’s stock, valued at $4,145,796. This trade represents a 20.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the business’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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 14,081 shares of company stock worth $1,937,904 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on NOW shares. Argus lifted their price objective on shares of ServiceNow from $134.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Cantor Fitzgerald increased their target price on shares of ServiceNow from $174.00 to $201.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. UBS Group restated an “underweight” rating on shares of ServiceNow in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and issued a $160.00 price target on shares of ServiceNow in a research report on Thursday. Finally, Robert W. Baird set a $185.00 price target on shares of ServiceNow in a research report on Thursday. One equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $154.50.

ServiceNow Stock Down 4.1%

Shares of NYSE NOW opened at $105.12 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.70 and a current ratio of 0.72. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $189.53. The stock has a market capitalization of $109.11 billion, a P/E ratio of 75.63, a PEG ratio of 1.94 and a beta of 0.99. The stock’s fifty day moving average is $138.71 and its 200 day moving average is $115.45.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 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 company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the firm earned $4.82 EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 2.14 earnings per share for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow reported 20.5% year-over-year revenue growth, supported by subscription demand, and raised its 2026 artificial-intelligence contract target to $1.7 billion. Management and bullish analysts argue that AI adoption could accelerate growth in 2027. ServiceNow: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts continue to rate NOW Buy or Overweight despite reducing their price targets. JPMorgan, Piper Sandler, Wells Fargo and Oppenheimer still see substantial long-term upside, suggesting the sell-off may have been excessive. ServiceNow stock is on track for its largest drop on record
• Positive Sentiment: A new partnership with BDO Canada will help organizations govern AI and automate operations using ServiceNow’s platform, providing potential support for future enterprise demand. BDO Canada partners with ServiceNow
• Neutral Sentiment: ServiceNow’s CEO has defended the company’s valuation and long-term opportunity, while a reported $3 million insider stock purchase may signal management confidence. However, such commentary has not offset investor concerns about guidance. ServiceNow CEO makes striking unicorn claim
• Negative Sentiment: The primary catalyst for the sell-off was management’s forecast for slower fourth-quarter current remaining performance obligation growth—about 18.5%, below the approximately 21.5% revenue-growth outlook. Because cRPO represents contracted future revenue, investors viewed the gap as a warning that demand may be weakening. ServiceNow Guides to Slower Backlog Growth
• Negative Sentiment: Third-quarter adjusted earnings of $1.00 per share fell short of the $1.02 consensus estimate. The miss, combined with concerns that AI could disrupt traditional software pricing and demand, overshadowed the revenue beat and higher AI target. ServiceNow shares plunge after earnings
• Negative Sentiment: Investors are also monitoring ServiceNow’s roughly $7.5 billion debt load and rising interest costs, while a shareholder investigation into potential securities-law violations adds reputational and legal uncertainty. ServiceNow’s Debt and Interest Costs Jump

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.