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M&T Bank Corp Decreases Position in ServiceNow, Inc. $NOW
M&T Bank Corp significantly reduced its stake in ServiceNow (NYSE:NOW) by 51% in Q4, selling nearly 20,000 shares but still retaining holdings valued at $2.88 million. Despite ServiceNow reporting strong quarterly revenue and meeting EPS estimates, its stock plunged after earnings due to AI concerns and market rotation. Analysts maintain a “Moderate Buy” consensus, with many considering the sell-off overdone given an upgraded outlook and potential for AI monetization.