AEGON ASSET MANAGEMENT UK Plc Boosts Holdings in ServiceNow, Inc. $NOW

AEGON ASSET MANAGEMENT UK Plc lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 21.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 440,063 shares of the information technology services provider’s stock after acquiring an additional 77,622 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in ServiceNow were worth $46,009,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of ServiceNow in the fourth quarter valued at about $2,020,992,000. World Investment Advisors raised its stake in shares of ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after acquiring an additional 38,583 shares during the last quarter. Cohen Klingenstein LLC boosted its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $95.51 on Friday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The stock has a market capitalization of $98.47 billion, a P/E ratio of 56.92, a P/E/G ratio of 1.58 and a beta of 0.94. The company’s 50-day moving average is $99.56 and its 200 day moving average is $117.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem through new partnerships with Wipro, Digimarc, and HPE, reinforcing demand for its platform in enterprise automation and AIOps. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Analyst-style coverage is constructive, with articles highlighting ServiceNow as a leading generative AI software name and citing strong buy ratings and upside potential from current levels. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Positive Sentiment: ServiceNow’s AI Control Tower is being viewed as a potential growth engine as enterprises look for governance and orchestration tools to manage expanding AI deployments. Can AI Control Tower Become ServiceNow’s Next Growth Engine?
• Positive Sentiment: New ecosystem announcements with Aria Systems and Cognizant suggest ServiceNow is deepening integration across telecom and multi-agent enterprise workflows, which could support future platform adoption. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Neutral Sentiment: Several AI infrastructure and industry commentary pieces underscore the broader demand for enterprise AI tools, but they are more thematic than directly tied to near-term ServiceNow financial results. Cloud AI Update – Exploring AI’s Future Infrastructure Challenges And Solutions
• Negative Sentiment: The Seeking Alpha piece arguing that the “AI threat is overstated” implies there is still debate about whether AI could pressure software vendors, though the article itself is more reassuring than alarming for ServiceNow. ServiceNow: The AI Threat Is Overstated

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James Financial reduced their price target on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. KeyCorp set a $85.00 price objective on ServiceNow and gave the stock an “underweight” rating in a report on Thursday, April 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Citizens Jmp reissued a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus decreased their target price on ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $142.17.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 over the last 90 days. 0.34% of the stock is currently owned by insiders.

About ServiceNow

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.