Amundi Has $1.04 Billion Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Amundi reduced its ServiceNow stake by 8.4% in the second quarter, selling 961,834 shares but retaining 10.5 million shares worth approximately $1.04 billion. Institutional investors and hedge funds collectively own 87.18% of the company.
• Analyst sentiment remains favorable, with ServiceNow receiving a consensus “Moderate Buy” rating and an average price target of $144.24. The company recently exceeded quarterly earnings and revenue estimates, with revenue rising 24% year over year to $3.99 billion.
• ServiceNow’s AI expansion and partner adoption are supporting its growth narrative, but insider selling and elevated valuation remain risks. The stock trades at roughly 88 times earnings after a substantial recent rally.

Amundi trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,517,264 shares of the information technology services provider's stock after selling 961,834 shares during the quarter. Amundi owned 1.02% of ServiceNow worth $1,044,154,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of ServiceNow by 9,980.9% during the second quarter. California State Teachers Retirement System now owns 154,496,061 shares of the information technology services provider's stock worth $15,338,369,000 after purchasing an additional 152,963,494 shares during the period. BlackRock Inc. acquired a new position in shares of ServiceNow in the 2nd quarter valued at approximately $9,536,615,000. State Street Corp grew its position in shares of ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD increased its stake in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock worth $4,962,692,000 after purchasing an additional 25,517,218 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Citic Securities cut their price target on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. UBS Group set a $248.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Citigroup restated a "market outperform" rating on shares of ServiceNow in a report on Thursday, July 23rd. TD Cowen reaffirmed a "buy" rating and issued a $140.00 price objective on shares of ServiceNow in a research report on Monday, August 17th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $175.00 price objective (up from $160.00) on shares of ServiceNow in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $144.24.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
• Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
• Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
• Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
• Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?

Insider Activity

In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the transaction, the director owned 43,990 shares of the company's stock, valued at $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 7,847 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the sale, the insider owned 30,042 shares in the company, valued at $4,145,796. This represents a 20.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 14,081 shares of company stock valued at $1,937,904. 0.34% of the stock is owned by company insiders.

ServiceNow Price Performance

NYSE:NOW opened at $141.31 on Monday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $117.21 and a 200 day simple moving average of $107.96. The stock has a market capitalization of $146.11 billion, a PE ratio of 88.32, a P/E/G ratio of 2.57 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.81 earnings per share. The company's quarterly revenue was up 24.0% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 2.24 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.

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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.

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