639,905 Shares in ServiceNow, Inc. $NOW Bought by Fifth Third Bancorp

Fifth Third Bancorp bought a new position in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, Holdings Channel.com reports. The firm bought 639,905 shares of the information technology services provider’s stock, valued at approximately $85,754,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in ServiceNow during the 2nd quarter valued at $9,536,615,000. Bank of New York Mellon Corp bought a new stake in ServiceNow in the 2nd quarter worth $712,573,000. Legal & General Group Plc bought a new stake in ServiceNow in the 2nd quarter worth $641,888,000. Bank of America Corp DE bought a new stake in ServiceNow in the 2nd quarter worth $627,355,000. Finally, Deutsche Bank AG bought a new position in shares of ServiceNow during the second quarter valued at about $595,157,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the transaction, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 1,289 shares of ServiceNow stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $101.70, for a total transaction of $131,091.30. Following the transaction, the insider owned 30,042 shares of the company’s stock, valued at $3,055,271.40. The trade was a 4.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 13,870 shares of company stock valued at $1,880,595 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $100.65 on Friday. The company’s fifty day moving average price is $132.97 and its 200-day moving average price is $114.22. The stock has a market cap of $104.47 billion, a PE ratio of 56.15, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $175.00.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOW. KeyCorp reiterated an “underweight” rating and set a $110.00 target price (up from $85.00) on shares of ServiceNow in a report on Thursday, October 29th. UBS Group restated an “underweight” rating on shares of ServiceNow in a report on Thursday, October 29th. Jefferies Financial Group set a $145.00 price target on ServiceNow in a research report on Thursday, October 29th. Barclays set a $152.00 price objective on ServiceNow and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Wells Fargo & Company cut their price objective on ServiceNow from $190.00 to $175.00 and set an “overweight” rating on the stock 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 assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.50.

Latest ServiceNow News

Investors following NOW have been watching these news items:

• Positive Sentiment: ServiceNow introduced an Autonomous CRM Engine intended to map existing systems and speed up legacy CRM migrations, with continuous monitoring to catch configuration issues. It is in controlled availability, with wider expansion planned for 2027; Datacom and Xactly are among the adopters. The launch could support customer adoption of its AI-powered workflow platform. ServiceNow launches Autonomous CRM Engine
• 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.