Deutsche Bank AG Buys New Shares in ServiceNow, Inc. $NOW

Deutsche Bank AG bought a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 5,994,734 shares of the information technology services provider’s stock, valued at approximately $595,157,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares during the last quarter. State Street Corp boosted its holdings in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its position in ServiceNow by 404.8% during 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 acquiring an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley grew its position in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

NOW opened at $117.70 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $121.70 billion, a PE ratio of 73.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94. The stock’s 50 day moving average price is $107.15 and its 200-day moving average price is $105.49. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. The trade was a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cybersecurity expansion supports long-term growth. ServiceNow’s planned $7.75 billion acquisition of Armis would broaden its AI-powered security platform and strengthen its preventive cyber-defense offerings. The appointment of former Armis executive Simon Mouyal as chief marketing officer also signals an increased focus on security and go-to-market execution. ServiceNow Is Spending $7.75 Billion On AI Security
• Positive Sentiment: Analyst support remains firm. TD Cowen reaffirmed its Buy rating and assigned a $140 price target, implying meaningful upside from the referenced market level. Analysts cited ServiceNow’s expanding security platform, AI workflow opportunities and recurring-revenue model. ServiceNow Earns Buy Rating
• Positive Sentiment: Fundamentals and AI momentum continue to attract dip buyers. Recent commentary points to roughly 24% year-over-year revenue growth and a substantial rebound from the stock’s lows. Some investors view support near the 200-day moving average as an opportunity if the company’s growth remains intact. NOW Stock Has Rebounded Over 54%
• Neutral Sentiment: Institutional positioning is mixed. JPMorgan added a large position, while T. Rowe Price, Wellington Management and several other firms reduced holdings. The split suggests continued disagreement about valuation and the pace of the recovery.
• Neutral Sentiment: A director sold shares under a pre-arranged Rule 10b5-1 plan. Paul Edward Chamberlain sold 1,500 shares worth approximately $188,400, reducing his holdings by 3.11%. Because the transaction was scheduled in advance, it provides limited evidence of a change in the company’s outlook. SEC Insider Filing
• Negative Sentiment: Valuation remains a major concern. Even after a reported 30.5% decline over the past year, commentary argues that ServiceNow still does not look inexpensive, leaving the stock vulnerable to further pressure if growth expectations soften. ServiceNow Stock Still Looks Expensive
• Negative Sentiment: Broad software-sector weakness is weighing on the shares. Investors have been rotating toward semiconductor and AI-hardware stocks, pressuring software names including ServiceNow, Adobe and Intuit. The sizable Armis acquisition also introduces execution, integration and spending risks.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. Capital One Financial boosted their price objective on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $140.00 target price (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Guggenheim raised shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, July 1st. Finally, UBS Group set a $248.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.76.

ServiceNow Company 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.