ServiceNow, Inc. $NOW Stock: Montaka Global Pty Ltd Trims Position

Montaka Global Pty Ltd reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 12.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 65,864 shares of the information technology services provider’s stock after selling 9,780 shares during the period. ServiceNow comprises 3.5% of Montaka Global Pty Ltd’s portfolio, making the stock its 10th biggest position. Montaka Global Pty Ltd’s holdings in ServiceNow were worth $8,826,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NOW. BlackRock Inc. bought a new position in shares of ServiceNow in the second quarter worth about $9,536,615,000. Bank of New York Mellon Corp bought a new stake in ServiceNow during the 2nd quarter valued at about $712,573,000. Legal & General Group Plc bought a new stake in ServiceNow during the 2nd quarter valued at about $641,888,000. Bank of America Corp DE bought a new stake in ServiceNow during the 2nd quarter valued at about $627,355,000. Finally, Deutsche Bank AG purchased a new stake in ServiceNow in the 2nd quarter valued at about $595,157,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow News Summary

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

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline Canney sold 1,289 shares of the company’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 transaction, the insider owned 30,042 shares in the company, valued at approximately $3,055,271.40. This represents a 4.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Also, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the transaction, the insider directly owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 15,370 shares of company stock valued at $2,068,995. Insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $99.35 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $175.00. 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 firm has a market capitalization of $103.13 billion, a price-to-earnings ratio of 71.48, a PEG ratio of 2.01 and a beta of 1.00. The stock’s 50-day simple moving average is $134.49 and its 200-day simple moving average is $114.55.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.82 earnings per share. As a group, equities analysts forecast that ServiceNow, Inc. will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Yorkville Ives began coverage on ServiceNow in a report on Monday, October 5th. They issued an “outperform” rating and a $160.00 price target for the company. DA Davidson set a $170.00 price objective on ServiceNow and gave the stock a “buy” rating in a report on Monday, July 20th. Stifel Nicolaus set a $160.00 target price on ServiceNow and gave the company a “buy” rating in a research report on Tuesday, October 6th. Wells Fargo & Company decreased their target price on ServiceNow from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, October 29th. Finally, Robert W. Baird set a $185.00 target price on ServiceNow in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $154.50.

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.