Westpac Banking Corp Acquires 4,989 Shares of ServiceNow, Inc. $NOW

Westpac Banking Corp boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 242.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,050 shares of the information technology services provider’s stock after purchasing an additional 4,989 shares during the quarter. Westpac Banking Corp’s holdings in ServiceNow were worth $1,080,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. Norges Bank bought a new stake in ServiceNow in the fourth quarter worth $2,020,992,000. Cohen Klingenstein LLC raised its stake in 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 purchasing an additional 8,000 shares in the last quarter. World Investment Advisors raised its stake in 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 purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. raised its stake in 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 purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in 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 purchasing an additional 2,064,440 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Down 7.7%

Shares of NOW stock opened at $117.86 on Thursday. The stock has a 50 day moving average of $98.99 and a 200 day moving average of $122.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $121.51 billion, a P/E ratio of 70.24, a P/E/G ratio of 2.11 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The company 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%.ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. As a group, sell-side analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: William Blair reiterated a Buy rating on ServiceNow, citing accelerating AI adoption, a model-agnostic architecture, and a potential path to $30 billion in revenue by 2030. Article Title
• Positive Sentiment: Several conference appearances this week suggest management is actively reinforcing the company’s AI and enterprise workflow growth narrative to investors. Article Title
• Positive Sentiment: ServiceNow expanded its partnership with Everbridge’s xMatters, deepening AI-powered incident response and workflow orchestration capabilities for critical operations customers. Article Title
• Positive Sentiment: ServiceNow announced a $2.5 million grant to City Year, highlighting continued investment in workforce development and AI-enabled operational innovation, which supports its brand and enterprise relationships. Article Title
• Neutral Sentiment: Commentary around ServiceNow as an “AI control tower” and comparisons with other enterprise AI names reflect growing investor interest, but these pieces are opinion-based and don’t add fresh financial data. Article Title
• Neutral Sentiment: Recent conference transcripts and AI-sector articles likely helped keep ServiceNow in focus, but they appear more reflective of sentiment than of a new business catalyst. Article Title
• Negative Sentiment: ServiceNow was recently hit by a broader software-sector selloff and a Zacks note pointed to a sharp one-day decline, showing that AI enthusiasm has not eliminated valuation and sentiment pressure. Article Title

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NOW shares. Raymond James Financial dropped their price target on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. DA Davidson restated a “buy” rating and issued a $190.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Weiss Ratings cut ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. Finally, Morgan Stanley reduced their price objective on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.85.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, 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. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 in the last ninety days. Insiders own 0.34% of the company’s stock.

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.