ServiceNow, Inc. $NOW Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 381.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 59,766 shares of the information technology services provider’s stock after acquiring an additional 47,362 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in ServiceNow were worth $9,156,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew 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 purchasing an additional 81,752,460 shares during the last quarter. State Street Corp grew its stake in shares of ServiceNow by 1.4% in the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock worth $8,700,970,000 after purchasing an additional 131,080 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after acquiring an additional 6,213,762 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of ServiceNow by 388.7% in the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock worth $720,325,000 after acquiring an additional 3,743,087 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of ServiceNow by 613.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock worth $588,326,000 after acquiring an additional 3,301,962 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage with a Buy rating, reinforcing optimism that ServiceNow can benefit from enterprise AI adoption and workflow automation. Article: Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Multiple analysts and media reports are portraying NOW as a prime “agentic AI” play, which is improving sentiment after a long selloff. Article: Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Neutral Sentiment: Citic Securities lowered its price target to $140 from $168 but kept a Buy rating, which is still constructive overall but signals tempered expectations. Article: Citic Securities Adjusts ServiceNow Price Target
• Neutral Sentiment: Additional commentary from conference transcripts and fund letters suggests institutional investors remain constructive, but these items are less likely to move the stock on their own. Article: ServiceNow Presents at J.P. Morgan Conference Transcript

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 31,767 shares of company stock worth $2,906,098. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NOW has been the topic of a number of recent research reports. Truist Financial decreased their target price on ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Morgan Stanley decreased their target price on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. FBN Securities decreased their target price on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. DA Davidson restated a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Raymond James Financial dropped their target price on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow Stock Performance

Shares of NOW stock opened at $99.70 on Friday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. 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 company has a market capitalization of $102.79 billion, a price-to-earnings ratio of 59.42, a P/E/G ratio of 1.87 and a beta of 0.82. The stock’s fifty day simple moving average is $99.01 and its 200-day simple moving average is $126.30.

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 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 the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.35 earnings per share 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.