ServiceNow, Inc. $NOW Stock: Danske Bank A S Cuts Holdings

Danske Bank A S cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 12.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 835,258 shares of the information technology services provider’s stock after selling 119,739 shares during the quarter. Danske Bank A S owned 0.08% of ServiceNow worth $111,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Cornerstone Financial Management LLC increased 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 worth $25,000 after acquiring an additional 107 shares during the period. Pathway Financial Advisers LLC acquired a new position in ServiceNow during the third quarter valued at $38,000. Marquette Asset Management LLC boosted its holdings in ServiceNow by 75.0% in the second quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 129 shares during the last quarter. Kilter Group LLC purchased a new stake in ServiceNow in the second quarter valued at $31,000. Finally, Solstein Capital LLC purchased a new stake in ServiceNow in the second quarter valued at $35,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. Yorkville Ives began coverage on ServiceNow in a research report on Monday, October 5th. They set an “outperform” rating and a $160.00 price target on the stock. Royal Bank Of Canada set a $165.00 price objective on ServiceNow and gave the company an “outperform” rating in a report on Thursday, October 29th. Canaccord Genuity Group set a $145.00 target price on ServiceNow in a research note on Thursday, October 29th. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 target price on shares of ServiceNow in a report on Thursday, October 29th. Finally, Deutsche Bank lifted their price target on ServiceNow from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, September 21st. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.50.

Key Headlines Impacting ServiceNow

Investors following NOW have been watching these headlines:

• Positive Sentiment: ServiceNow launched its Autonomous CRM Engine, designed to map existing CRM systems and help accelerate migrations, with ongoing monitoring for configuration issues. It is in controlled availability, with broader expansion planned for 2027; Datacom and Xactly are among its adopters. The launch could support adoption of ServiceNow’s AI products. Article: ServiceNow launches Autonomous CRM Engine
• 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
• 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

ServiceNow Price Performance

Shares of ServiceNow stock traded up $1.48 during trading hours on Friday, reaching $102.14. The stock had a trading volume of 8,448,012 shares, compared to its average volume of 20,155,038. The stock’s 50 day moving average is $132.09 and its 200 day moving average is $114.07. The firm has a market capitalization of $106.02 billion, a PE ratio of 73.48, a PEG ratio of 1.97 and a beta of 1.00. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $175.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share (EPS) 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 analysts’ expectations of $4.09 billion. During the same period in the previous year, the company earned $4.82 earnings per share. The company’s revenue was up 20.5% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul Chamberlain sold 2,700 shares of the business’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 value of $365,850.00. Following the completion of the sale, the director directly owned 43,990 shares in the company, valued at $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 7,847 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 30,042 shares of the company’s stock, valued at $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. 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 90 days, insiders sold 13,870 shares of company stock valued at $1,880,595. 0.34% of the stock is owned by company insiders.

About ServiceNow

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.