Resona Asset Management Co. Ltd. Purchases 541,025 Shares of ServiceNow, Inc. $NOW

Resona Asset Management Co. Ltd. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 412.8% in the 4th quarter, HoldingsChannel reports. The firm owned 672,103 shares of the information technology services provider’s stock after acquiring an additional 541,025 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in ServiceNow were worth $103,208,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NOW. IAG Wealth Partners LLC raised its stake in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares in the last quarter. Noble Wealth Management PBC increased its position in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC increased its position in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. Lodestone Wealth Management LLC acquired a new stake in ServiceNow during the 4th quarter valued at approximately $26,000. Finally, Albion Financial Group UT increased its position in ServiceNow by 400.0% during the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $103.52 on Tuesday. 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’s fifty day simple moving average is $100.18 and its two-hundred day simple moving average is $128.05. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The stock has a market cap of $106.73 billion, a PE ratio of 61.69, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82.

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, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the business earned $0.81 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Key ServiceNow News

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

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider owned 11,757 shares in the company, valued at approximately $1,245,419.01. This trade represents a 45.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,408 shares of company stock valued at $3,927,369 in the last 90 days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen restated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. HSBC cut their price target on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Stifel Nicolaus cut their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. The Goldman Sachs Group dropped their price objective on shares of ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company decreased their target price on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Two 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.89.

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.