Candriam S.C.A. Has $121.65 Million Position in ServiceNow, Inc. $NOW

Candriam S.C.A. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 35.7% during the first quarter, Holdings Channel.com reports. The fund owned 1,163,560 shares of the information technology services provider’s stock after acquiring an additional 306,019 shares during the period. ServiceNow comprises 0.6% of Candriam S.C.A.’s investment portfolio, making the stock its 28th largest position. Candriam S.C.A.’s holdings in ServiceNow were worth $121,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC increased its position in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC lifted its position in ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC acquired a new stake in ServiceNow during the fourth quarter worth about $25,000. Finally, Measured Wealth Private Client Group LLC grew its stake in ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 140 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $107.81 on Friday. The company has a market cap of $111.16 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 1.81 and a beta of 0.96. 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 firm has a 50 day simple moving average of $102.49 and a 200 day simple moving average of $111.27. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $3.75 billion. During the same period in the prior year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. Deutsche Bank Aktiengesellschaft dropped their target price 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. Robert W. Baird decreased their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Canaccord Genuity Group lowered their price objective on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Morgan Stanley cut their target price on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Finally, Capital One Financial raised their target price on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.47.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

ServiceNow 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.