Erste Asset Management GmbH Boosts Stock Position in ServiceNow, Inc. $NOW

Erste Asset Management GmbH boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 260.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 303,961 shares of the information technology services provider’s stock after acquiring an additional 219,668 shares during the quarter. Erste Asset Management GmbH’s holdings in ServiceNow were worth $46,935,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NOW. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after buying an additional 81,752,460 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after buying an additional 18,854,775 shares during the period. Norges Bank purchased a new stake in shares of ServiceNow in the 4th quarter worth $2,020,992,000. Capital International Investors lifted its holdings in shares of ServiceNow by 396.0% in the 4th quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock worth $1,592,310,000 after buying an additional 8,297,818 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of ServiceNow by 404.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock worth $1,279,416,000 after buying an additional 6,695,802 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key Headlines 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

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at $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. Over the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on NOW. Wolfe Research set a $125.00 target price on ServiceNow in a report on Thursday, April 23rd. DA Davidson reiterated a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Citic Securities lowered their target price on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Oppenheimer reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow Trading Up 0.0%

Shares of NYSE NOW opened at $112.45 on Monday. 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 stock has a market capitalization of $115.94 billion, a P/E ratio of 67.02, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The business has a fifty day moving average price of $99.48 and a 200 day moving average price of $121.71.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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.