572,638 ServiceNow, Inc. $NOW Shares Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 45.9% in the third quarter, HoldingsChannel reports. The fund owned 1,819,501 shares of the information technology services provider’s stock after buying an additional 572,638 shares during the quarter. ServiceNow accounts for 1.1% of Candriam S.C.A.’s portfolio, making the stock its 15th biggest holding. Candriam S.C.A.’s holdings in ServiceNow were worth $244,722,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cooper Haims Advisors LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at about $206,000. Ethic Inc. lifted its position in shares of ServiceNow by 8.8% in the third quarter. Ethic Inc. now owns 155,519 shares of the information technology services provider’s stock worth $20,841,000 after purchasing an additional 12,574 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of ServiceNow by 5.3% in the third quarter. 180 Wealth Advisors LLC now owns 23,410 shares of the information technology services provider’s stock worth $3,137,000 after purchasing an additional 1,170 shares in the last quarter. Leelyn Smith LLC boosted its holdings in shares of ServiceNow by 8.7% during the third quarter. Leelyn Smith LLC now owns 13,840 shares of the information technology services provider’s stock worth $1,855,000 after purchasing an additional 1,105 shares during the period. Finally, Formidable Asset Management LLC boosted its holdings in shares of ServiceNow by 5.9% during the third quarter. Formidable Asset Management LLC now owns 21,007 shares of the information technology services provider’s stock worth $2,815,000 after purchasing an additional 1,167 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction 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 transaction, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 7,847 shares of ServiceNow stock in a transaction on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. The trade was a 20.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,081 shares of company stock valued at $1,937,904 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is broadening its agentic-AI partnership with LTM, aiming to take AI workflows to more enterprise customers. The company also highlighted deployments and selections by customers including LTM, KORE and Keysight, supporting its case that businesses are adopting its AI platform. ServiceNow expands enterprise AI partnerships
• Positive Sentiment: ServiceNow raised its AI contract-value target to $1.7 billion, and its CFO described fears that AI will disrupt the company’s business as unfounded. These points may help reassure investors about AI’s potential as a growth driver. ServiceNow Q3 earnings call highlights
• Neutral Sentiment: The NBA extended its partnership with ServiceNow, adopting EmployeeWorks for employee self-service and workplace requests. The deal adds a customer use case, though its near-term financial impact was not specified. NBA and ServiceNow extend partnership
• Negative Sentiment: Investors are focused on the outlook: despite a third-quarter revenue beat, ServiceNow’s fourth-quarter current remaining performance obligations growth forecast of 18.5% disappointed the market and prompted concerns about slowing backlog growth. The stock has fallen sharply since the report. ServiceNow outlook and AI concerns
• Negative Sentiment: ServiceNow is undertaking another round of layoffs, while third-quarter severance costs rose to $87 million from $24 million a year earlier. Separate reports that the board approved $127 million in retention awards as the company cuts jobs may also draw scrutiny over costs and priorities. ServiceNow layoffs and severance costs
• Negative Sentiment: ETFs were net sellers of $29.5 million in ServiceNow shares on Wednesday, adding a modest near-term headwind. ETF selling of ServiceNow shares

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOW. BMO Capital Markets boosted their price objective on shares of ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Needham & Company LLC increased their target price on shares of ServiceNow from $115.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Truist Financial set a $150.00 target price on shares of ServiceNow and gave the company a “buy” rating in a research note on Thursday, October 29th. BTIG Research lowered their price target on shares of ServiceNow from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Finally, Stifel Nicolaus set a $160.00 price target on shares of ServiceNow and gave the company a “buy” rating in a report on Tuesday, October 6th. One 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 company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $154.50.

ServiceNow Stock Down 0.4%

Shares of ServiceNow stock opened at $101.91 on Friday. The firm has a market cap of $105.78 billion, a price-to-earnings ratio of 73.32, a P/E/G ratio of 1.99 and a beta of 1.00. The stock has a 50-day simple moving average of $136.31 and a 200-day simple moving average of $114.81. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $175.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.72 and a quick ratio of 0.72.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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). The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.82 EPS. On average, equities research analysts expect that ServiceNow, Inc. will post 2.12 earnings per share for the current fiscal year.

ServiceNow 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.

ServiceNow serves businesses and public-sector organizations around the world.