Handelsbanken Fonder AB Buys 660,496 Shares of ServiceNow, Inc. $NOW

Handelsbanken Fonder AB grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 403.0% during the fourth quarter, HoldingsChannel reports. The firm owned 824,376 shares of the information technology services provider’s stock after purchasing an additional 660,496 shares during the quarter. Handelsbanken Fonder AB’s holdings in ServiceNow were worth $126,286,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Avidian Wealth Enterprises LLC boosted its stake in shares of ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider’s stock valued at $417,000 after purchasing an additional 11 shares in the last quarter. Meridian Wealth Advisors LLC boosted its stake in shares of ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after purchasing an additional 12 shares in the last quarter. Valley Brook Capital Group Inc. boosted its stake in shares of ServiceNow by 2.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider’s stock valued at $583,000 after purchasing an additional 13 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after purchasing an additional 13 shares in the last quarter. Finally, JT Stratford LLC boosted its stake in shares of ServiceNow by 3.5% during the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the business’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 completion of the transaction, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,408 shares of company stock valued at $3,927,369 in the last quarter. 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: Bank of America reinstated coverage on ServiceNow with a Buy rating and a $130 price target, calling the company a likely AI beneficiary in the “agentic AI” era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports highlighted that ServiceNow is being viewed as one of the software names best positioned to benefit from AI, with concerns about AI disruption to its business model seen as overblown. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow also announced a global partnership with Experian to embed data and decisioning tools into its AI platform, supporting autonomous AI agents and strengthening its enterprise workflow offering. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader commentary on the software sector suggested the group may have been over-sold, with Wall Street rotating back into application software names like ServiceNow. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still pointed to lingering “SaaSpocalypse” and AI-disruption worries, noting that ServiceNow has been under pressure in recent months despite the latest rebound. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NOW shares. Capital One Financial lifted their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus dropped their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Cantor Fitzgerald cut their price objective on shares of ServiceNow to $122.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. UBS Group set a $150.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Raymond James Financial lowered their target price on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $141.89.

ServiceNow Stock Performance

Shares of NOW stock opened at $103.52 on Tuesday. The company has a market capitalization of $106.73 billion, a price-to-earnings ratio of 61.69, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company’s 50-day moving average is $100.18 and its 200 day moving average is $128.05.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. Sell-side 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.