26,020 ServiceNow, Inc. $NOW Shares Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its ServiceNow stake by 90.5% in the third quarter, selling 26,020 shares and retaining 2,724 shares worth about $365,000.
• ServiceNow’s latest quarterly results slightly missed earnings expectations, reporting EPS of $1.00 versus a $1.02 estimate, while revenue of $4.11 billion topped forecasts and grew 20.5% year over year.
• Shares were reported down 6.0%; analysts’ consensus rating remained “Moderate Buy,” with an average price target of $154.50. Investors have also raised concerns about slower backlog growth and rising AI-related costs.

International Assets Investment Management LLC reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 90.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,724 shares of the information technology services provider's stock after selling 26,020 shares during the period. International Assets Investment Management LLC's holdings in ServiceNow were worth $365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. BlackRock Inc. acquired a new position in shares of ServiceNow in the second quarter worth $9,536,615,000. State Street Corp boosted its holdings in ServiceNow by 2.0% in the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider's stock valued at $4,868,514,000 after purchasing an additional 979,726 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ServiceNow by 16.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider's stock valued at $1,651,828,000 after purchasing an additional 2,362,606 shares during the period. Amundi boosted its holdings in ServiceNow by 60.9% in the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider's stock valued at $1,200,140,000 after purchasing an additional 4,346,722 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in ServiceNow by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider's stock worth $891,491,000 after purchasing an additional 518,263 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 6.0%

Shares of NYSE:NOW opened at $102.24 on Friday. The company has a market capitalization of $106.13 billion, a PE ratio of 73.56, a P/E/G ratio of 2.13 and a beta of 1.00. 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, Inc. has a twelve month low of $81.24 and a twelve month high of $175.80. The firm has a 50 day simple moving average of $137.04 and a 200-day simple moving average of $114.92.

ServiceNow (NYSE:NOW - Get Free Report) last issued 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). The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The company's quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.82 EPS. On average, equities analysts predict that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 7,847 shares of the 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 owned 30,042 shares in the company, valued at $4,145,796. This represents a 20.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider directly owned 18,305 shares in the company, 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 valued at $1,937,904 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and LTM plan to expand their partnership, combining ServiceNow’s AI Platform with LTM’s consulting and engineering capabilities to scale agentic AI projects and joint sales efforts. The collaboration could support broader enterprise adoption, though the announcement did not quantify expected revenue. Article: LTM and ServiceNow expand partnership
• Positive Sentiment: The NBA extended its partnership with ServiceNow and will use EmployeeWorks for employee onboarding and workplace requests, adding a prominent customer deployment. Article: NBA and ServiceNow extend partnership
• Positive Sentiment: Argus assigned ServiceNow a Buy rating, offering a supportive analyst view amid the recent weakness. Article: ServiceNow earns Buy rating from Argus
• Neutral Sentiment: A customer announcement said KORE will deploy 3CLogic’s voice AI platform alongside ServiceNow Customer Service Management. This illustrates use of ServiceNow in an AI-enabled customer-service solution, but the announcement centers on 3CLogic and does not detail financial impact for ServiceNow. Article: KORE selects 3CLogic platform
• Negative Sentiment: Investors are focused on risks raised in the Q3 earnings call: despite ServiceNow lifting its AI contract-value target to $1.7 billion as adoption accelerates, slower backlog growth and revenue adjustments prompted questions about the outlook. Article: ServiceNow Q3 earnings call highlights
• Negative Sentiment: A separate analysis warned that costs are rising faster than AI adoption, adding to concerns about profitability. Broader investor worries that AI could disrupt established software companies have also weighed on sentiment toward ServiceNow. Article: ServiceNow AI adoption and rising costs

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NOW. Deutsche Bank Aktiengesellschaft upped their price target on ServiceNow from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, September 21st. Evercore reiterated an "outperform" rating on shares of ServiceNow in a research note on Tuesday, October 13th. KeyCorp reissued an "underweight" rating and set a $110.00 price objective (up from $85.00) on shares of ServiceNow in a research report on Thursday, October 29th. BTIG Research cut their target price on shares of ServiceNow from $170.00 to $150.00 and set a "buy" rating on the stock in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of ServiceNow from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, October 29th. 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $154.50.

ServiceNow Profile

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.

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