Manning & Napier Advisors LLC Boosts Holdings in ServiceNow, Inc. $NOW

Manning & Napier Advisors LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 18.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 885,241 shares of the information technology services provider’s stock after acquiring an additional 138,398 shares during the quarter. ServiceNow comprises 1.3% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Manning & Napier Advisors LLC’s holdings in ServiceNow were worth $92,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Florida Financial Advisors LLC lifted its position in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after buying an additional 14 shares in the last quarter. First Affirmative Financial Network grew its holdings in ServiceNow by 1.7% in the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock valued at $821,000 after buying an additional 15 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in shares of ServiceNow by 1.1% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,462 shares of the information technology services provider’s stock worth $1,322,000 after acquiring an additional 16 shares during the last quarter. Opes Wealth Management LLC increased its stake in shares of ServiceNow by 3.5% in the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock worth $467,000 after acquiring an additional 17 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its holdings in shares of ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after acquiring an additional 18 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Argus cut their price objective on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. JPMorgan Chase & Co. decreased their target price on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Piper Sandler dropped their price target on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Citizens Jmp restated a “market outperform” rating and set a $157.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.47.

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow 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 completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last ninety days. 0.34% of the stock is owned by company insiders.

ServiceNow Trading Down 0.9%

NYSE NOW traded down $1.03 during trading hours on Friday, reaching $107.81. The company had a trading volume of 11,058,890 shares, compared to its average volume of 20,996,616. The stock has a 50-day moving average of $102.49 and a 200 day moving average of $111.27. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $111.16 billion, a P/E ratio of 64.25, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

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.