Why ServiceNow Stock Was Slipping Today
A disappointing report from Pegasystems weighed on ServiceNow.
Overview
Shares of ServiceNow (NYSE: NOW) were pulling back today after disappointing results from Pegasystems (NASDAQ: PEGA), a small-cap enterprise automation software company, seemed to confirm a concerning trend for ServiceNow, that customers were delaying software orders as they spend on AI.
As of 12:44 p.m. ET, ServiceNow was down 5.9%, while Pegasystems had lost 16.2%, and the iShares Expanded-Tech Software ETF, which tracks top software stocks like ServiceNow, was down 2.7%, showing software stocks were down broadly even as the major indexes were flat.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.