Mitsubishi UFJ Asset Management Co. Ltd. Takes $291.80 Million Position in ServiceNow, Inc. $NOW

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,939,190 shares of the information technology services provider’s stock, valued at approximately $291,803,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.28% of ServiceNow at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NOW. Brighton Jones LLC raised its stake in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares during the period. Sivia Capital Partners LLC grew its stake in shares of ServiceNow by 4.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after buying an additional 34 shares during the period. United Bank increased its holdings in shares of ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after buying an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in shares of ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after buying an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after buying an additional 609 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director owned 46,690 shares in the company, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cybersecurity expansion supports long-term growth. ServiceNow’s planned $7.75 billion acquisition of Armis would broaden its AI-powered security platform and strengthen its preventive cyber-defense offerings. The appointment of former Armis executive Simon Mouyal as chief marketing officer also signals an increased focus on security and go-to-market execution. ServiceNow Is Spending $7.75 Billion On AI Security
• Positive Sentiment: Analyst support remains firm. TD Cowen reaffirmed its Buy rating and assigned a $140 price target, implying meaningful upside from the referenced market level. Analysts cited ServiceNow’s expanding security platform, AI workflow opportunities and recurring-revenue model. ServiceNow Earns Buy Rating
• Positive Sentiment: Fundamentals and AI momentum continue to attract dip buyers. Recent commentary points to roughly 24% year-over-year revenue growth and a substantial rebound from the stock’s lows. Some investors view support near the 200-day moving average as an opportunity if the company’s growth remains intact. NOW Stock Has Rebounded Over 54%
• Neutral Sentiment: Institutional positioning is mixed. JPMorgan added a large position, while T. Rowe Price, Wellington Management and several other firms reduced holdings. The split suggests continued disagreement about valuation and the pace of the recovery.
• Neutral Sentiment: A director sold shares under a pre-arranged Rule 10b5-1 plan. Paul Edward Chamberlain sold 1,500 shares worth approximately $188,400, reducing his holdings by 3.11%. Because the transaction was scheduled in advance, it provides limited evidence of a change in the company’s outlook. SEC Insider Filing
• Negative Sentiment: Valuation remains a major concern. Even after a reported 30.5% decline over the past year, commentary argues that ServiceNow still does not look inexpensive, leaving the stock vulnerable to further pressure if growth expectations soften. ServiceNow Stock Still Looks Expensive
• Negative Sentiment: Broad software-sector weakness is weighing on the shares. Investors have been rotating toward semiconductor and AI-hardware stocks, pressuring software names including ServiceNow, Adobe and Intuit. The sizable Armis acquisition also introduces execution, integration and spending risks.

ServiceNow Stock Down 5.1%

NYSE:NOW opened at $117.70 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $121.70 billion, a price-to-earnings ratio of 73.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The stock has a 50-day simple moving average of $107.15 and a 200 day simple moving average of $105.49.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. Sell-side analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BTIG Research restated a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research note on Wednesday, July 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Oppenheimer restated an “outperform” rating and issued a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research report on Monday, August 3rd. Finally, Bank of America started coverage on ServiceNow in a research report on Monday, May 18th. They issued a “buy” rating and a $130.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $143.76.

About ServiceNow

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.