Capital Group Investment Management PTE. LTD. Boosts Holdings in ServiceNow, Inc. $NOW

Capital Group Investment Management PTE. LTD. increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 452.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,621 shares of the information technology services provider’s stock after acquiring an additional 22,617 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in ServiceNow were worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $2,020,992,000. Cohen Klingenstein LLC raised its position 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 valued at $1,532,000 after buying an additional 8,000 shares during the last quarter. World Investment Advisors raised its position 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 $7,218,000 after buying an additional 38,583 shares during the last quarter. Moors & Cabot Inc. raised its position 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 valued at $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after buying 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 Trading Down 5.8%

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

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NOW shares. UBS Group reiterated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. BTIG Research restated a “buy” rating and issued a $150.00 price target on shares of ServiceNow in a research report on Monday, May 4th. Weiss Ratings cut shares of ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, April 21st. Evercore boosted their price target on shares of ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.85.

Key Stories Impacting ServiceNow

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

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.