Resona Asset Management Co. Ltd. Purchases 151,830 Shares of ServiceNow, Inc. $NOW

Resona Asset Management Co. Ltd. raised its position in ServiceNow, Inc. (NYSE:NOW) by 22.6% during the 1st quarter, HoldingsChannel reports. The fund owned 823,933 shares of the information technology services provider’s stock after buying an additional 151,830 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in ServiceNow were worth $86,237,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in ServiceNow in the fourth quarter valued at approximately $2,020,992,000. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,346,000 after acquiring an additional 38,583 shares during the period. Cohen Klingenstein LLC boosted its stake in shares of ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after acquiring an additional 8,000 shares during the period. Moors & Cabot Inc. increased its holdings in shares of ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after acquiring an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after acquiring an additional 2,064,440 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $107.87 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s fifty day moving average price is $101.74 and its two-hundred day moving average price is $111.62. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20. The firm has a market cap of $111.22 billion, a price-to-earnings ratio of 64.29, a P/E/G ratio of 1.84 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the business earned $0.81 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NOW shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ServiceNow in a report on Monday, June 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $145.00 price objective on shares of ServiceNow in a research report on Wednesday. HSBC cut their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, BMO Capital Markets reduced their target price on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.22.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow shares have been lifted by a broader rotation into beaten-down software stocks, with investors moving away from high-flying semiconductors and into enterprise software names. ServiceNow (NOW) Stock Is Up, What You Need To Know
• Positive Sentiment: Traders are also reacting to a more constructive analyst tone and fresh AI product momentum, with Guggenheim reportedly dismissing the “software extinction” thesis and upgrading ServiceNow. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: ServiceNow is gaining attention for new AI and government/defense partnerships, including work tied to mission-critical biosurveillance and state health systems, which could expand its addressable market beyond workflow automation. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Another bullish angle is that outside coverage is arguing the “AI bear case” against ServiceNow is weakening, reinforcing the idea that the stock may still have upside despite valuation concerns. ServiceNow: The AI Bear Case Is Falling Apart
• Neutral Sentiment: Several recent pieces, including comparisons with Salesforce and EPAM, are largely valuation and strategy debates rather than immediate catalysts, so they are more likely to shape longer-term sentiment than today’s trading. EPAM or NOW: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: ServiceNow’s appearance in “most watched” and “final trades” media coverage is adding visibility, but these mentions do not appear to be tied to a fundamental business update. ServiceNow, Inc. (NOW) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Macro risk is still present for software stocks, as Middle East tensions pressured peers like Palantir and Salesforce; that kind of market weakness could spill over into ServiceNow if risk appetite fades. Palantir Leads Software Stocks Lower

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by insiders.

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.