AIA Group Ltd Decreases Stock Position in ServiceNow, Inc. $NOW

Key Points

• AIA Group Ltd reduced its ServiceNow stake by 37% in the first quarter, selling 46,628 shares and leaving it with 79,327 shares valued at about $8.29 million.
• Several insiders also sold shares recently, including Jacqueline P. Canney and Paul Fipps, bringing total insider sales to 28,071 shares worth about $2.53 million over the past three months.
• Analysts remain broadly positive: ServiceNow has a Moderate Buy rating with an average price target of $141.03, while the company just reported quarterly EPS in line with estimates and revenue slightly above expectations.

AIA Group Ltd cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 37.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,327 shares of the information technology services provider's stock after selling 46,628 shares during the quarter. AIA Group Ltd's holdings in ServiceNow were worth $8,294,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Noble Wealth Management PBC raised its position in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after buying an additional 128 shares during the last quarter. Millstone Evans Group LLC lifted its position in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC purchased a new stake in ServiceNow in the fourth quarter worth approximately $25,000. Finally, Measured Wealth Private Client Group LLC boosted its holdings in ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 140 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. The trade was a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last three months. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. Needham & Company LLC restated a "buy" rating and issued a $115.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Evercore lifted their price objective on ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. KeyCorp set a $85.00 price objective on ServiceNow and gave the company an "underweight" rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets lowered their target price on ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $141.03.

ServiceNow Stock Performance

Shares of NOW opened at $103.40 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $103.97 and a two-hundred day simple moving average of $109.58. The stock has a market cap of $106.60 billion, a price-to-earnings ratio of 61.62, a PEG ratio of 1.72 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts' consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business's quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, analysts expect that ServiceNow, Inc. will post 2.33 EPS for the current year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

ServiceNow Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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