Insider Selling: ServiceNow (NYSE:NOW) Insider Sells 1,289 Shares of Stock

Key Points

• ServiceNow insider Jacqueline Canney sold 1,289 shares for $131,091, reducing her stake by 4.11% to 30,042 shares. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• For its latest quarter, ServiceNow reported $4.11 billion in revenue, above estimates and up 20.5% year over year, while EPS of $1.00 narrowly missed the $1.02 consensus.
• Shares traded at $99.35 in the report, while analysts maintained a “Moderate Buy” consensus and an average price target of $154.50.

ServiceNow, Inc. (NYSE:NOW - Get Free Report) insider Jacqueline Canney sold 1,289 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $101.70, for a total transaction of $131,091.30. Following the completion of the sale, the insider owned 30,042 shares in the company, valued at $3,055,271.40. The trade was a 4.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.

ServiceNow Stock Performance

Shares of NOW traded down $3.41 during mid-day trading on Tuesday, reaching $99.35. 18,934,472 shares of the company's stock traded hands, compared to its average volume of 20,141,456. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72. The business's 50-day moving average price is $134.49 and its 200-day moving average price is $114.55. The stock has a market capitalization of $103.13 billion, a P/E ratio of 56.15, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $175.00.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.09 billion. ServiceNow had a return on equity of 15.17% and a net margin of 9.36%. The business's quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $4.82 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ServiceNow from $135.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, September 21st. Piper Sandler restated an "overweight" rating and set a $175.00 price target on shares of ServiceNow in a research report on Thursday, October 29th. Stifel Nicolaus set a $160.00 price target on shares of ServiceNow and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Robert W. Baird set a $185.00 price objective on shares of ServiceNow in a report on Thursday, October 29th. Finally, Mizuho set a $165.00 price objective on shares of ServiceNow in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $154.50.

ServiceNow News Roundup

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

Hedge Funds Weigh In On ServiceNow

Several hedge funds have recently made changes to their positions in NOW. BlackRock Inc. bought a new position in shares of ServiceNow in the second quarter valued at $9,536,615,000. State Street Corp lifted its position in shares of ServiceNow by 2.0% during the 2nd 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 acquiring an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ServiceNow by 16.6% during the 2nd 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 acquiring an additional 2,362,606 shares during the last quarter. Amundi boosted its stake in shares of ServiceNow by 60.9% during the 1st quarter. Amundi now owns 11,479,098 shares of the information technology services provider's stock worth $1,200,140,000 after acquiring an additional 4,346,722 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of ServiceNow by 8.8% during the 3rd quarter. Fisher Asset Management LLC now owns 8,724,159 shares of the information technology services provider's stock worth $1,169,125,000 after acquiring an additional 705,841 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

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.

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