AEGON ASSET MANAGEMENT UK Plc Sells 254,870 Shares of ServiceNow, Inc. $NOW

Key Points

• AEGON Asset Management UK cut its ServiceNow stake by 98.5%, selling 254,870 shares in the third quarter and retaining 3,949 shares valued at about $529,000.
• Analyst sentiment remains broadly positive: ServiceNow has a consensus “Moderate Buy” rating and an average price target of $154.50, despite recent target cuts from some analysts.
• Latest quarterly revenue rose 20.5% year over year to $4.11 billion and topped estimates, while EPS of $1.00 narrowly missed consensus. The article also notes renewed competitive concerns around AI and a law firm investigation into potential investor claims.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 98.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,949 shares of the information technology services provider's stock after selling 254,870 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in ServiceNow were worth $529,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Financial Management LLC increased its stake in ServiceNow by 72.8% during the 2nd quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider's stock worth $25,000 after buying an additional 107 shares during the period. Marquette Asset Management LLC lifted its holdings in ServiceNow by 75.0% in the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider's stock worth $30,000 after buying an additional 129 shares in the last quarter. Kilter Group LLC purchased a new position in ServiceNow in the 2nd quarter valued at about $31,000. Solstein Capital LLC purchased a new position in ServiceNow in the 2nd quarter valued at about $35,000. Finally, Pathway Financial Advisers LLC purchased a new position in ServiceNow in the 3rd quarter valued at about $38,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Oppenheimer reaffirmed an "outperform" rating and set a $165.00 target price on shares of ServiceNow in a research report on Thursday, October 29th. Stifel Nicolaus set a $160.00 price target on ServiceNow and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Wells Fargo & Company reduced their price target on 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. raised their price objective on ServiceNow from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada set a $165.00 price objective on ServiceNow and gave the company an "outperform" rating in a research note 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 assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $154.50.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 2,034 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Chamberlain sold 2,700 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 15,370 shares of company stock worth $2,068,995. 0.34% of the stock is currently owned by corporate insiders.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Kyndryl and ServiceNow launched a jointly developed autonomous-operations offering on the ServiceNow Store. The AI-powered product is designed to improve productivity and automate IT issue resolution, supporting the case for ServiceNow’s AI opportunity. Kyndryl expands partnership with ServiceNow
• Positive Sentiment: Broward County, Florida, has gone live with ServiceNow’s IT Service Management and Workflow Data Fabric, providing a concrete public-sector deployment that may help demonstrate customer adoption of its workflow platform. Broward County selects ServiceNow
• Neutral Sentiment: Institutional ownership reports were mixed: 71 West Capital Partners increased its stake, while Alps Advisors reduced its position. These filings reflect differing investor views and may have limited near-term significance. 71 West Capital Partners increases stake
• Negative Sentiment: Shares weakened as Anthropic introduced new Claude tools, renewing fears that AI products could intensify competition or erode demand for enterprise software. The concern is part of a broader slide in software stocks. ServiceNow stock drops amid Anthropic’s new AI tools
• Negative Sentiment: Reports describe a steep recent decline, with investors still reacting to the October quarterly results: revenue exceeded estimates and grew year over year, but EPS came in slightly below consensus. A Pomerantz law firm investigation into potential investor claims adds another source of uncertainty, although an investigation is not a finding of wrongdoing. Pomerantz investigation notice

ServiceNow Price Performance

Shares of NOW stock opened at $99.35 on Wednesday. The firm has a fifty day moving average of $134.49 and a two-hundred day moving average of $114.55. The firm has a market cap of $103.13 billion, a P/E ratio of 71.48, a P/E/G ratio of 2.01 and a beta of 1.00. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year 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 - 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 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 quarter last year, the company posted $4.82 EPS. The business's revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.12 earnings per share for the current fiscal 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.

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