AIA Group Ltd purchased 11,018 shares in ServiceNow, Inc. during the third quarter. This new position is valued at approximately $1.48 million.
ServiceNow has expanded partnerships with LTM and the NBA. Argus also issued a Buy rating for the company.
Concerns emerged from ServiceNow's third-quarter earnings call. Investors noted strong AI-related contract growth. However, they remain wary of slower backlog growth and rising costs.
The stock has fallen significantly since its late October earnings report. That report showed subscription revenue growth but also a decline in operating margin.