Meiji Yasuda Asset Management Co Ltd. Takes $6.30 Million Position in ServiceNow, Inc. $NOW

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,504 shares of the information technology services provider’s stock, valued at approximately $6,305,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC grew its stake in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after buying an additional 34 shares in the last quarter. United Bank increased its holdings in shares of ServiceNow by 15.5% in 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. raised its position 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 valued at $1,976,000 after buying an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in shares of ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after acquiring an additional 609 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director owned 46,690 shares of the company’s stock, valued at approximately $5,864,264. The trade was a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial lifted their price target on ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. BMO Capital Markets raised their price objective on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. DA Davidson set a $170.00 target price on ServiceNow and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Oppenheimer reiterated an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a research report on Wednesday, July 15th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

ServiceNow Price Performance

Shares of ServiceNow stock opened at $128.73 on Monday. The company has a market cap of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94. The business has a 50 day moving average of $108.88 and a 200 day moving average of $105.66. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

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

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.