AEGON ASSET MANAGEMENT UK Plc Buys 77,622 Shares of ServiceNow, Inc. $NOW

Key Points

• AEGON ASSET MANAGEMENT UK Plc boosted its ServiceNow stake by 21.4% in the first quarter, buying 77,622 additional shares and bringing its total holding to 440,063 shares valued at about $46.0 million.
• ServiceNow continues to attract strong institutional interest, with 87.18% of shares owned by institutional investors, while several other funds also increased positions during the period.
• Recent news has been largely positive around AI-related growth drivers, including new partnerships and ecosystem expansions, and analysts remain broadly constructive with a Moderate Buy consensus and an average price target of $142.17.

AEGON ASSET MANAGEMENT UK Plc increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 440,063 shares of the information technology services provider's stock after purchasing an additional 77,622 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in ServiceNow were worth $46,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after buying an additional 34 shares during the period. United Bank lifted its holdings in shares of ServiceNow by 15.5% in the second 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 in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after buying an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its position in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after acquiring an additional 609 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem through new partnerships with Wipro, Digimarc, and HPE, reinforcing demand for its platform in enterprise automation and AIOps. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Analyst-style coverage is constructive, with articles highlighting ServiceNow as a leading generative AI software name and citing strong buy ratings and upside potential from current levels. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Positive Sentiment: ServiceNow’s AI Control Tower is being viewed as a potential growth engine as enterprises look for governance and orchestration tools to manage expanding AI deployments. Can AI Control Tower Become ServiceNow's Next Growth Engine?
• Positive Sentiment: New ecosystem announcements with Aria Systems and Cognizant suggest ServiceNow is deepening integration across telecom and multi-agent enterprise workflows, which could support future platform adoption. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Neutral Sentiment: Several AI infrastructure and industry commentary pieces underscore the broader demand for enterprise AI tools, but they are more thematic than directly tied to near-term ServiceNow financial results. Cloud AI Update - Exploring AI's Future Infrastructure Challenges And Solutions
• Negative Sentiment: The Seeking Alpha piece arguing that the “AI threat is overstated” implies there is still debate about whether AI could pressure software vendors, though the article itself is more reassuring than alarming for ServiceNow. ServiceNow: The AI Threat Is Overstated

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Oppenheimer reissued an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Sanford C. Bernstein restated an "outperform" rating and set a $236.00 price target (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. Finally, BNP Paribas Exane raised shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price target on the stock in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $142.17.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the company's 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 owned 12,072 shares of the company's stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 over the last ninety days. 0.34% of the stock is currently owned by insiders.

ServiceNow Price Performance

NOW stock opened at $95.51 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The stock has a market cap of $98.47 billion, a PE ratio of 56.92, a P/E/G ratio of 1.58 and a beta of 0.94. The firm has a 50 day simple moving average of $99.56 and a two-hundred day simple moving average of $117.81.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. On average, analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.