The Manufacturers Life Insurance Company Sells 78,882 Shares of ServiceNow, Inc. $NOW

The Manufacturers Life Insurance Company cut its stake in ServiceNow, Inc. (NYSE:NOW) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 875,597 shares of the information technology services provider’s stock after selling 78,882 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of ServiceNow worth $91,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of NOW. Quantinno Capital Management LP lifted its stake in ServiceNow by 52.2% during the 1st quarter. Quantinno Capital Management LP now owns 703,223 shares of the information technology services provider’s stock valued at $73,522,000 after acquiring an additional 241,236 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of ServiceNow by 109.4% in the 1st quarter. Lazard Asset Management LLC now owns 688,863 shares of the information technology services provider’s stock worth $72,021,000 after acquiring an additional 359,854 shares in the last quarter. Castleark Management LLC grew its stake in shares of ServiceNow by 12.3% in the 1st quarter. Castleark Management LLC now owns 303,756 shares of the information technology services provider’s stock worth $31,758,000 after acquiring an additional 33,336 shares in the last quarter. Family Manage LLC raised its holdings in shares of ServiceNow by 1,013.9% in the first quarter. Family Manage LLC now owns 42,538 shares of the information technology services provider’s stock valued at $4,447,000 after purchasing an additional 38,719 shares during the last quarter. Finally, Gateway Wealth Partners LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $449,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $115.71 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $119.64 billion, a price-to-earnings ratio of 72.32, a P/E/G ratio of 1.95 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $198.61. The firm’s 50-day simple moving average is $105.24 and its two-hundred day simple moving average is $106.62.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $130.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. CLSA began coverage on shares of ServiceNow in a research note on Monday, July 20th. They issued an “underperform” rating and a $72.00 price objective for the company. Sanford C. Bernstein reissued an “outperform” rating and set a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. TD Cowen restated a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research note on Friday, July 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $140.00 target price (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.39.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,144 shares of company stock worth $1,730,097. Insiders own 0.34% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: CEO Bill McDermott said ServiceNow has a “kill switch” and other controls that can stop autonomous AI agents if they behave unexpectedly. The comments may ease concerns about enterprise AI safety and support adoption of ServiceNow’s agentic-AI products. ServiceNow CEO admits there’s a solution to AI’s biggest problem
• Positive Sentiment: Analysts and industry coverage point to accelerating customer adoption of agentic AI, expanding AI products and workflow automation as potential drivers of ServiceNow’s next phase of growth. Recent quarterly results—24% year-over-year revenue growth, revenue and earnings above estimates, and raised guidance—provide support for the bullish thesis. Can Agentic AI Adoption Fuel ServiceNow’s Next Phase of Growth?
• Positive Sentiment: ServiceNow is also being viewed as more than an AI software stock: its expanding cybersecurity business could become another meaningful growth engine. Shares were reported to be holding above key moving averages, reinforcing near-term investor momentum. ServiceNow’s Q2 Earnings Showed It’s More Than an AI Stock
• Neutral Sentiment: Several valuation articles describe NOW as attractive because of its growth and AI exposure, while comparisons with peers such as Salesforce highlight that the stock still trades at a premium. That premium could limit upside if growth expectations weaken. ServiceNow Vs. Salesforce: The Valuation Gap Has Closed, But The Growth Gap Hasn’t
• Negative Sentiment: ServiceNow cut hundreds of jobs as part of a global restructuring and increased efficiency focus. The reductions may improve costs, but they also underscore broader software-sector pressure and potential execution risks during the company’s AI transition. ServiceNow cut hundreds of jobs to streamline operations

About ServiceNow

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.