ABN Amro Investment Solutions Purchases 271,535 Shares of ServiceNow, Inc. $NOW

Key Points

• ABN Amro Investment Solutions boosted its ServiceNow stake by 441.2% in the fourth quarter, ending with 333,075 shares valued at about $51.0 million.
• Several other large institutions also increased their holdings, and institutional investors now own 87.18% of ServiceNow’s stock, signaling strong professional ownership interest.
• ServiceNow recently reported earnings per share of $0.97 and revenue of $3.77 billion, both in line with or slightly above estimates, while analysts currently rate the stock Moderate Buy with a consensus target of $141.89.

ABN Amro Investment Solutions increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 441.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 333,075 shares of the information technology services provider's stock after acquiring an additional 271,535 shares during the period. ABN Amro Investment Solutions' holdings in ServiceNow were worth $51,024,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NOW. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. Jennison Associates LLC grew its holdings in shares of ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after acquiring an additional 6,213,762 shares during the period. Nordea Investment Management AB grew its holdings in shares of ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after acquiring an additional 3,743,087 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of ServiceNow by 613.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock worth $588,326,000 after acquiring an additional 3,301,962 shares during the period. Finally, Swedbank AB grew its holdings in shares of ServiceNow by 326.9% in the fourth quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider's stock worth $523,243,000 after acquiring an additional 2,615,500 shares during the period. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOW shares. Piper Sandler cut their price target on ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. TD Cowen reissued a "buy" rating and set a $140.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Macquarie Infrastructure cut their price target on ServiceNow from $172.00 to $140.00 and set a "neutral" rating for the company in a report on Thursday, January 29th. Evercore boosted their price target on ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Finally, BTIG Research reissued a "buy" rating and set a $150.00 price target on shares of ServiceNow in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $141.89.

ServiceNow Stock Performance

NYSE NOW opened at $103.13 on Thursday. The firm has a market cap of $106.33 billion, a price-to-earnings ratio of 61.46, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $99.35 and a 200-day moving average price of $126.89. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts' consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating and a $130 target, calling it an AI winner in the emerging agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Several articles said Wall Street is warming to ServiceNow because its workflow software could serve as a control layer for AI agents, easing fears that AI will replace its business. Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Positive Sentiment: Analysts and commentators highlighted that the recent selloff may have been overdone, with ServiceNow’s valuation looking more attractive after a sharp yearlong decline. Assessing ServiceNow (NOW) Valuation After A Year Of Sharp Share Price Declines
• Positive Sentiment: Media and analyst pieces also framed the stock’s rebound as part of a broader rotation back into software names, with ServiceNow singled out as one of the sector leaders. ServiceNow and Snowflake Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Some reports noted that the stock has fallen sharply over the past year despite revenue and profit growth, so investors are still weighing strong fundamentals against a still-extended valuation. After a 50% Drop, Is ServiceNow Stock Worth Buying?
• Negative Sentiment: There are still lingering concerns that AI disruption could pressure traditional enterprise software, and some commentary warned the recent bounce could fade if those fears return. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company's stock, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the company'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 completion of the transaction, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 31,767 shares of company stock worth $2,906,098. 0.34% of the stock is currently owned by insiders.

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.

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