Nykredit A S Takes Position in ServiceNow, Inc. $NOW

Nykredit A S acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, Holdings Channel reports. The fund acquired 537,922 shares of the information technology services provider’s stock, valued at approximately $53,405,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $29,000. Kelleher Financial Advisors purchased a new position in shares of ServiceNow during the 3rd quarter worth approximately $50,000. Pin Oak Investment Advisors Inc. increased its holdings in ServiceNow by 20.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 23 shares during the last quarter. Jupiter Wealth Management LLC acquired a new stake in ServiceNow in the 2nd quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC raised its position in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $130.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $175.00 target price (up from $160.00) on shares of ServiceNow in a research note on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $140.00 target price (up from $135.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Bank of America boosted their price target on shares of ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Finally, Evercore reissued an “outperform” rating and issued a $160.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. 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 two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.24.

ServiceNow Stock Performance

Shares of NOW stock opened at $136.57 on Thursday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The stock’s 50-day moving average price is $115.22 and its 200 day moving average price is $107.44. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $141.22 billion, a PE ratio of 85.36, a price-to-earnings-growth ratio of 2.60 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current year.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 2,700 shares of ServiceNow stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the transaction, the director owned 43,990 shares in the company, valued at approximately $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the sale, the insider owned 18,305 shares of the company’s stock, valued at $2,706,760.35. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,081 shares of company stock valued at $1,937,904 over the last 90 days. Insiders own 0.34% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Aramco Digital signed a collaboration agreement to expand AI-powered enterprise transformation. The partnership could broaden adoption of ServiceNow’s AI workflow tools across Aramco’s operations and strengthen the company’s competitive position versus Salesforce and Microsoft. ServiceNow and Aramco Digital Collaboration Agreement
• Positive Sentiment: Pricefx launched a Deal Optimization App for the ServiceNow AI Platform, embedding pricing guidance, negotiation insights and product recommendations into enterprise sales workflows. The announcement supports the view that partners are using ServiceNow as an AI distribution layer, potentially increasing platform usage and ecosystem revenue. ServiceNow as an Enterprise AI Commerce Platform
• Neutral Sentiment: Analysts remain moderately optimistic despite ServiceNow’s weaker performance than some software peers. However, with a reported price-to-earnings ratio above 85, investors may require continued strong growth and successful monetization of AI initiatives to justify the valuation. ServiceNow Performance Compared With Software Peers
• Negative Sentiment: Researchers reported that attackers may be able to break out of a sandbox in the ServiceNow AI Platform. A vulnerability involving AI tools could raise concerns about customer data, enterprise security, remediation costs and reputational risk, making this the most direct company-specific pressure on the stock. ServiceNow AI Platform Sandbox Security Report
• Negative Sentiment: Multiple insiders recently sold shares, including Paul Fipps, Jacqueline Canney and Director Paul Edward Chamberlain. Some transactions were made under pre-arranged trading plans, reducing their bearish significance, but the cluster of sales may still weigh on investor sentiment. ServiceNow Insider Selling Report

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.