Munich Reinsurance Co Stock Corp in Munich Lowers Stock Position in ServiceNow, Inc. $NOW

Munich Reinsurance Co Stock Corp in Munich cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 41.0% in the 1st quarter, HoldingsChannel reports. The firm owned 49,028 shares of the information technology services provider’s stock after selling 34,077 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in ServiceNow were worth $5,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Watch Advisors INC bought a new stake in shares of ServiceNow during the 3rd quarter worth $29,000. Texas Capital Bancshares Inc TX bought a new position in ServiceNow in the third quarter valued at $37,000. Ameriflex Group Inc. raised its position in ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. Kelleher Financial Advisors bought a new stake in ServiceNow during the third quarter worth about $50,000. Finally, Pin Oak Investment Advisors Inc. boosted its holdings in shares of ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $107.87 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The firm has a market cap of $111.22 billion, a PE ratio of 64.29, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96. The business has a 50 day moving average price of $101.74 and a 200-day moving average price of $111.62.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last quarter. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of ServiceNow in a research note on Monday, June 29th. BTIG Research restated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a report on Monday, June 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $121.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Cantor Fitzgerald set a $130.00 target price on shares of ServiceNow in a report on Monday, June 15th. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.22.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow shares have been lifted by a broader rotation into beaten-down software stocks, with investors moving away from high-flying semiconductors and into enterprise software names. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Positive Sentiment: Traders are also reacting to a more constructive analyst tone and fresh AI product momentum, with Guggenheim reportedly dismissing the “software extinction” thesis and upgrading ServiceNow. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: ServiceNow is gaining attention for new AI and government/defense partnerships, including work tied to mission-critical biosurveillance and state health systems, which could expand its addressable market beyond workflow automation. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Another bullish angle is that outside coverage is arguing the “AI bear case” against ServiceNow is weakening, reinforcing the idea that the stock may still have upside despite valuation concerns. ServiceNow: The AI Bear Case Is Falling Apart
• Neutral Sentiment: Several recent pieces, including comparisons with Salesforce and EPAM, are largely valuation and strategy debates rather than immediate catalysts, so they are more likely to shape longer-term sentiment than today’s trading. EPAM or NOW: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: ServiceNow’s appearance in “most watched” and “final trades” media coverage is adding visibility, but these mentions do not appear to be tied to a fundamental business update. ServiceNow, Inc. (NOW) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Macro risk is still present for software stocks, as Middle East tensions pressured peers like Palantir and Salesforce; that kind of market weakness could spill over into ServiceNow if risk appetite fades. Palantir Leads Software Stocks Lower

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.