Mizuho Markets Cayman LP Takes Position in ServiceNow, Inc. $NOW

Mizuho Markets Cayman LP purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,761 shares of the information technology services provider’s stock, valued at approximately $14,505,000. ServiceNow accounts for about 0.7% of Mizuho Markets Cayman LP’s portfolio, making the stock its 17th largest position.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in ServiceNow by 1.6% during the third quarter. Vanguard Group Inc. now owns 20,210,924 shares of the information technology services provider’s stock valued at $18,599,709,000 after purchasing an additional 315,861 shares in the last quarter. State Street Corp lifted its stake in ServiceNow by 1.4% during the third 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. Norges Bank acquired a new stake in shares of ServiceNow in the 2nd quarter valued at $2,589,235,000. Wellington Management Group LLP increased its stake in shares of ServiceNow by 5.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,287,300 shares of the information technology services provider’s stock valued at $2,104,956,000 after purchasing an additional 118,060 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of ServiceNow by 10.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,910,078 shares of the information technology services provider’s stock valued at $1,963,713,000 after purchasing an additional 177,392 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 1.6%

NYSE NOW opened at $116.77 on Wednesday. The company has a market cap of $122.14 billion, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $98.00 and a twelve month high of $211.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $117.96 and its 200 day moving average is $154.10.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the transaction, the insider owned 26,314 shares of the company’s stock, valued at $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 9,641 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the transaction, the insider owned 11,757 shares of the company’s stock, valued at approximately $1,245,419.01. This trade represents a 45.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,237 shares of company stock valued at $1,697,162 over the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. DA Davidson restated a “buy” rating and set a $220.00 price objective on shares of ServiceNow in a research report on Thursday, January 29th. Truist Financial set a $175.00 target price on ServiceNow in a research report on Thursday, February 5th. Macquarie Infrastructure lowered their target price on ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. Guggenheim raised shares of ServiceNow from a “sell” rating to a “neutral” rating in a report on Tuesday, December 16th. Finally, Royal Bank Of Canada reduced their price target on shares of ServiceNow from $185.00 to $150.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $192.61.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jim Cramer publicly called ServiceNow a value buy under the current AI thesis, which can drive retail/investor interest and short?term buying pressure. Jim Cramer on ServiceNow (NOW): “I Do Think That the Company Represents Actual Value at These Prices”
• Positive Sentiment: ServiceNow expanded its reseller agreement with Carahsoft to push the ServiceNow AI platform deeper into commercial, healthcare, telecom and critical?infrastructure channels across the U.S. and Canada — a move that can accelerate enterprise traction and recurring revenue. Carahsoft and ServiceNow Expand Partnership to Reach New Industries in the U.S. and Canada
• Positive Sentiment: BNP Paribas Exane upgraded ServiceNow from Neutral to Outperform and set a $140 price target — analyst upgrades and higher targets can support sentiment and provide catalyst for short?term upside. ServiceNow (NOW) Stock Gets Bullish Upgrade From BNP Paribas
• Neutral Sentiment: CEO Bill McDermott made stark public comments warning AI could push graduate unemployment into the 30% range — remarks that underline ServiceNow’s market opportunity for automation but carry reputational and policy sensitivity that investors should monitor. ServiceNow CEO predicts Gen Z college graduates will face at least 30% unemployment
• Neutral Sentiment: Investor chatter highlights resilient fundamentals (20.7% revenue growth, strong renewals, CEO insider purchases and a $1T market?cap ambition). That supports a long?term bull case but also shows polarized views and mixed insider/institutional flows. ServiceNow Stock (NOW) Opinions on Earnings Beat and CEO’s $1T Ambition
• Negative Sentiment: An upstart rival, Serval, has poached eight former ServiceNow salespeople — a sign of rising competitive intensity in the AI workflow automation sales market that could pressure retention and new?business wins in targeted segments. Eight ex-ServiceNow salespeople have been poached by Serval

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.