9,950 Shares in ServiceNow, Inc. $NOW Bought by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA bought 9,950 ServiceNow shares worth approximately $1.33 million, joining other major institutions that have increased their holdings; institutional investors own 87.18% of the stock.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $151.73. ServiceNow recently exceeded quarterly earnings and revenue expectations, with revenue rising 24% year over year.
• ServiceNow is expanding its AI offerings, including no-code EmployeeWorks tools and an Nvidia-backed AI Passport, though the stock faces pressure from broader concerns about AI financing and expensive enterprise-software valuations.

Banque Pictet & Cie SA purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,950 shares of the information technology services provider's stock, valued at approximately $1,333,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. BlackRock Inc. acquired a new stake in ServiceNow in the second quarter valued at approximately $9,536,615,000. State Street Corp grew its stake in shares of ServiceNow by 2.0% during the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider's stock worth $4,868,514,000 after buying an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of ServiceNow by 16.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider's stock worth $1,651,828,000 after buying an additional 2,362,606 shares during the last quarter. Amundi grew its stake in shares of ServiceNow by 60.9% during the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider's stock worth $1,200,140,000 after buying an additional 4,346,722 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ServiceNow by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider's stock worth $891,491,000 after buying an additional 518,263 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on ServiceNow from $135.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, September 21st. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a report on Monday, August 3rd. Truist Financial boosted their price objective on ServiceNow from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Guggenheim upgraded ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 price objective on the stock in a research report on Wednesday, July 1st. Finally, Cantor Fitzgerald upped their target price on ServiceNow from $141.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $151.73.

Insider Activity

In other news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the transaction, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline Canney sold 7,847 shares of the business's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the completion of the sale, the insider directly owned 30,042 shares in the company, valued at approximately $4,145,796. This represents a 20.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,081 shares of company stock valued at $1,937,904. Insiders own 0.34% of the company's stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Piper Sandler raised its price target to $175 from $140 and maintained an “overweight” rating, implying meaningful upside and reflecting confidence in ServiceNow’s growth outlook. ServiceNow Stock Trending: Employees Build AI Agents with Nvidia Oversight
• Positive Sentiment: ServiceNow introduced new EmployeeWorks capabilities that allow employees to build AI agents without coding, along with an Nvidia-backed AI Passport designed to manage permissions, business context and emergency controls for AI agents. These products could strengthen adoption of ServiceNow’s workflow and governance platform. ServiceNow introduces the third generation of its employee-centric AI harness
• Positive Sentiment: Recent coverage highlights ServiceNow’s deep integration into enterprise systems, strong customer retention and consistent revenue growth. Analysts also expect potential support from customer upgrades, security-product demand and U.S. federal spending. ServiceNow stock rises as investors rotate to enterprise software stocks
• Neutral Sentiment: ServiceNow’s shares benefited previously from a denial of reports that it was interested in acquiring AI startup Decagon, reducing concerns about a potentially expensive acquisition. That benefit has faded as broader market sentiment has deteriorated. ServiceNow Climbs After Denying Decagon Acquisition Interest
• Negative Sentiment: Enterprise software stocks are falling as AI-financing concerns spread. Investors appear to be taking profits and reducing exposure to expensive AI beneficiaries, with ServiceNow declining alongside Palantir and Salesforce despite its improving AI product portfolio. Enterprise Software Stocks Fall as AI Financing Worries Spread

ServiceNow Stock Down 4.6%

NYSE:NOW opened at $141.74 on Friday. The firm's 50 day simple moving average is $135.20 and its 200 day simple moving average is $113.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $192.97. The company has a market cap of $146.56 billion, a PE ratio of 88.58, a P/E/G ratio of 2.61 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping 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 firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company's revenue for the quarter was up 24.0% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 2.22 earnings per share for the current year.

About ServiceNow

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company's products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.

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