Saturna Capital Corp Increases Stake in ServiceNow, Inc. $NOW

Saturna Capital Corp raised its position in ServiceNow, Inc. (NYSE:NOW) by 399.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 948,175 shares of the information technology services provider’s stock after purchasing an additional 758,498 shares during the period. ServiceNow accounts for 1.9% of Saturna Capital Corp’s investment portfolio, making the stock its 15th largest holding. Saturna Capital Corp owned approximately 0.09% of ServiceNow worth $145,251,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 acquiring an additional 81,752,460 shares during the period. Geode Capital Management LLC increased 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 valued at $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Norges Bank purchased a new position in shares of ServiceNow in the 4th quarter valued at about $2,020,992,000. Capital International Investors increased its holdings in ServiceNow by 396.0% during the 4th quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock valued at $1,592,310,000 after acquiring an additional 8,297,818 shares in the last quarter. Finally, State Street Corp increased its holdings in ServiceNow by 1.4% during the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock valued at $8,700,970,000 after acquiring an additional 131,080 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NOW stock opened at $106.27 on Thursday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $109.57 billion, a P/E ratio of 63.33, a PEG ratio of 1.77 and a beta of 0.94. The company has a 50-day simple moving average of $99.87 and a 200 day simple moving average of $120.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results 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 company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the company earned $0.81 EPS. ServiceNow’s revenue was up 22.1% on a year-over-year basis. Sell-side analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new AI hiring-agent partnership with Phenom, which could strengthen its workplace automation offerings and support future enterprise demand. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, pointing to AI growth, pricing power, and a potential long-term revenue path that supports the investment case. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow and NICE launched an AI solution linking customer engagement with enterprise workflows, a partnership that could deepen the company’s platform value and expand use cases. ServiceNow NICE AI Alliance Links Customer Engagement To Core Workflows
• Neutral Sentiment: Zacks said investors have been heavily searching for ServiceNow, highlighting elevated trader interest, but the note did not include a major fundamental catalyst. Investors Heavily Search ServiceNow, Inc. (NOW): Here is What You Need to Know
• Neutral Sentiment: Jim Cramer said ServiceNow is “expensive,” reinforcing valuation concerns that may be limiting upside even as the business remains strong. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: TechCrunch reported that a bug exposed some customer data to the internet, and other security articles said the vulnerability was exploited against some customers. That raises a potential trust and compliance risk for the platform. ServiceNow tells customers a bug left some of their data exposed to the internet

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’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 $3,919,243.90. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NOW. UBS Group reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 26th. Evercore lifted their price target on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Finally, Stifel Nicolaus reduced their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $141.85.

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.