ServiceNow, Inc. $NOW Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 8.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,724,159 shares of the information technology services provider’s stock after buying an additional 705,841 shares during the quarter. Fisher Asset Management LLC’s holdings in ServiceNow were worth $1,169,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. BlackRock Inc. purchased a new position in ServiceNow in the 2nd quarter valued at $9,536,615,000. Bank of New York Mellon Corp acquired a new position in ServiceNow in the 2nd quarter valued at $712,573,000. Legal & General Group Plc purchased a new position in ServiceNow during the 2nd quarter worth $641,888,000. Bank of America Corp DE purchased a new position in ServiceNow during the 2nd quarter worth $627,355,000. Finally, Deutsche Bank AG purchased a new position in ServiceNow during the 2nd quarter worth $595,157,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 2.1%

ServiceNow stock opened at $100.65 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $104.47 billion, a price-to-earnings ratio of 72.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $175.00. The stock’s fifty day moving average is $132.97 and its two-hundred day moving average is $114.22.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.82 EPS. Analysts predict that ServiceNow, Inc. will post 2.12 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Jacqueline Canney sold 1,289 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $101.70, for a total value of $131,091.30. Following the sale, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $3,055,271.40. This represents a 4.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Chamberlain sold 2,700 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director owned 43,990 shares of the company’s stock, valued at $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 13,870 shares of company stock valued at $1,880,595. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America raised their target price on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Jefferies Financial Group set a $145.00 price target on shares of ServiceNow in a research note on Thursday, October 29th. Oppenheimer reissued an “outperform” rating and set a $165.00 price target on shares of ServiceNow in a report on Thursday, October 29th. Stifel Nicolaus set a $160.00 price objective on shares of ServiceNow and gave the company a “buy” rating in a research report on Tuesday, October 6th. Finally, BTIG Research reduced their price objective on shares of ServiceNow from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

ServiceNow News Roundup

Here’s some of the latest news about NOW:

• Positive Sentiment: Argus maintains a Buy rating, citing ServiceNow’s AI opportunity despite shares trading well below their high. The company also appeared on a list of AI stocks following Wells Fargo’s more constructive outlook on AI infrastructure. Argus still rates ServiceNow a Buy
• Negative Sentiment: A Pomerantz law firm investigation into potential investor claims adds uncertainty; the announcement does not establish wrongdoing. Pomerantz investigation announcement
• Negative Sentiment: Despite fresh agentic-AI partnership news, one analysis questions whether ServiceNow’s valuation is justified by current earnings. The concern comes as the stock has fallen sharply over the past year and the broader AI software selloff weighs on sentiment; investors are looking for evidence that AI products can translate into financial returns. Valuation concerns despite AI partnership news

ServiceNow Profile

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.