ServiceNow, Inc. $NOW Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 400.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,291 shares of the information technology services provider’s stock after buying an additional 104,265 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in ServiceNow were worth $19,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. IAG Wealth Partners LLC grew its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC grew its position in ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares during the period. Millstone Evans Group LLC grew its position in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC grew its position in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Finally, Blueline Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $25,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOW. HSBC dropped their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. The Goldman Sachs Group decreased their price target on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Cantor Fitzgerald decreased their price target on shares of ServiceNow to $122.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Robert W. Baird decreased their price target on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Wolfe Research set a $125.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow Price Performance

Shares of NOW stock opened at $112.45 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50-day moving average is $99.48 and its two-hundred day moving average is $122.03. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a market capitalization of $115.94 billion, a PE ratio of 67.02, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94.

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 analysts’ consensus estimates 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. ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,071 shares of company stock valued at $2,529,956 over the last three months. 0.34% of the stock is currently owned by company insiders.

ServiceNow 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.