SEB Asset Management AB Invests $50.67 Million in ServiceNow, Inc. $NOW

SEB Asset Management AB bought a new position in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 484,675 shares of the information technology services provider’s stock, valued at approximately $50,673,000.

Several other large investors have also added to or reduced their stakes in the business. Swiss National Bank raised its position in ServiceNow by 6.8% in the 1st quarter. Swiss National Bank now owns 3,044,540 shares of the information technology services provider’s stock valued at $318,307,000 after buying an additional 194,640 shares during the last quarter. Valley Wealth Managers Inc. lifted its stake in ServiceNow by 52.6% during the 1st quarter. Valley Wealth Managers Inc. now owns 6,211 shares of the information technology services provider’s stock valued at $649,000 after acquiring an additional 2,142 shares in the last quarter. Mediolanum International Funds Ltd boosted its holdings in ServiceNow by 22.7% during the 1st quarter. Mediolanum International Funds Ltd now owns 306,381 shares of the information technology services provider’s stock worth $32,161,000 after acquiring an additional 56,756 shares during the last quarter. Spartan Wealth Advisory Services LLC purchased a new position in ServiceNow during the 1st quarter worth $1,496,000. Finally, ANB Bank grew its stake in shares of ServiceNow by 33.9% in the 1st quarter. ANB Bank now owns 2,363 shares of the information technology services provider’s stock worth $247,000 after acquiring an additional 598 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.6%

NYSE NOW opened at $103.40 on Friday. The business’s fifty day moving average is $103.97 and its 200-day moving average is $109.58. 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 has a market capitalization of $106.60 billion, a price-to-earnings ratio of 61.62, a PEG ratio of 1.72 and a beta of 0.96. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 2.33 EPS for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, 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, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The stock was 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 in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last three months. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $145.00 target price (down from $163.00) on shares of ServiceNow in a report on Wednesday, July 8th. Canaccord Genuity Group cut their price target on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. TD Cowen reiterated a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Friday. Finally, Truist Financial lifted their target price on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.03.

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.