ServiceNow, Inc. $NOW Shares Purchased by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors LLC boosted its ServiceNow stake by 245.2% in the fourth quarter, buying 530,497 more shares and bringing its total holdings to 746,843 shares worth about $115.2 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 87.18% of ServiceNow’s stock. Several other funds also significantly increased their positions during the quarter.
• ServiceNow shares were down 2.6% and recently traded at $91.14, even as the company reported quarterly EPS in line with estimates and revenue slightly above forecasts; analysts currently have a Moderate Buy consensus with an average price target of $144.71.

Manning & Napier Advisors LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 245.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 746,843 shares of the information technology services provider's stock after buying an additional 530,497 shares during the quarter. ServiceNow comprises 1.5% of Manning & Napier Advisors LLC's investment portfolio, making the stock its 24th biggest holding. Manning & Napier Advisors LLC owned about 0.07% of ServiceNow worth $115,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cohen Klingenstein LLC increased its position in ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after acquiring an additional 8,000 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after acquiring an additional 2,064,440 shares during the last quarter. Torray Investment Partners LLC lifted its position in ServiceNow by 390.5% during the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock worth $6,224,000 after acquiring an additional 32,345 shares during the period. Jennison Associates LLC grew its stake in shares of ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares during the last quarter. Finally, Narwhal Capital Management grew its stake in shares of ServiceNow by 763.5% in the 4th quarter. Narwhal Capital Management now owns 16,977 shares of the information technology services provider's stock valued at $2,601,000 after purchasing an additional 15,011 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NOW shares. Citigroup upped their price target on ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Cantor Fitzgerald dropped their price objective on shares of ServiceNow to $122.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Truist Financial cut their price objective on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. UBS Group set a $150.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Macquarie Infrastructure lowered their target price on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $144.71.

ServiceNow Trading Down 2.6%

Shares of NOW stock opened at $91.14 on Friday. The business's fifty day moving average price is $102.80 and its 200 day moving average price is $132.71. The firm has a market capitalization of $93.96 billion, a PE ratio of 54.31, a P/E/G ratio of 1.66 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a partnership with Accenture to deliver agentic AI at enterprise scale, reinforcing its role as a core platform for enterprise AI workflows and potentially expanding adoption. ServiceNow, Accenture partner to deliver agentic AI at enterprise scale
• Positive Sentiment: Management is pushing a long-term growth narrative, saying AI can accelerate ServiceNow’s business and projecting more than $30 billion in subscription revenue by 2030, which helped lift sentiment around the stock. ServiceNow Targets $30 Billion As AI Revenue Story Accelerates
• Positive Sentiment: Several analyst notes were supportive, including higher price targets and reiterated Buy/Outperform ratings, signaling that Wall Street still sees upside despite the selloff. Capital One Financial Increases ServiceNow NYSE: NOW Price Target to $120.00
• Positive Sentiment: There was also unusual call-option buying, suggesting some traders are positioning for a rebound.
• Neutral Sentiment: ServiceNow continued to generate attention around its AI control and governance strategy, including collaborations with NVIDIA and Microsoft, which may support the long-term platform story but do not yet change near-term fundamentals. ServiceNow And NVIDIA Project Arc Puts AI Agents At Center Stage
• Negative Sentiment: Bearish coverage focused on rising competition from agentic AI and argued that ServiceNow’s challenges predate the AI hype, adding to concerns that the stock may have more downside if growth expectations reset. ServiceNow Had Problems Long Before Agentic AI. Here's Why.
• Negative Sentiment: Investors also appear worried about the broader “Saaspocalypse” narrative, with commentary highlighting the scale of the stock’s recent decline and questions about whether AI will truly offset pressure on legacy software models. Why CEO Bill McDermott says ServiceNow’s 39% stock crash is Saaspocalypse ‘nonsense’ and why AI will make it a trillion-dollar company

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the transaction, the director directly owned 46,430 shares of the company's stock, valued at approximately $4,697,323.10. This trade represents a 3.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 25,164 shares of company stock worth $2,497,021. 0.34% of the stock is owned by company insiders.

ServiceNow Company 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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