AustralianSuper Pty Ltd Boosts Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• AustralianSuper Pty Ltd boosted its ServiceNow stake by 284.8% in the fourth quarter, ending with 392,547 shares valued at about $60.1 million.
• Other major institutional investors also increased their holdings, including Vanguard, Jennison, Nordea, Pictet, and Swedbank, and 87.18% of ServiceNow’s stock is now owned by hedge funds and other institutions.
• ServiceNow reported Q1 earnings of $0.97 per share, matching estimates, while revenue of $3.77 billion topped expectations and rose 22.1% year over year. Analysts remain constructive overall, with a consensus rating of Moderate Buy and an average price target of $144.71.

AustralianSuper Pty Ltd raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 284.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 392,547 shares of the information technology services provider's stock after purchasing an additional 290,544 shares during the quarter. AustralianSuper Pty Ltd's holdings in ServiceNow were worth $60,134,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in NOW. Vanguard Group Inc. raised its holdings in 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 valued at $15,619,771,000 after buying an additional 81,752,460 shares during the period. Jennison Associates LLC increased its position 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 in the last quarter. Nordea Investment Management AB raised its stake in shares of ServiceNow by 388.7% in the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after acquiring an additional 3,743,087 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of ServiceNow by 613.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after acquiring an additional 3,301,962 shares during the period. Finally, Swedbank AB lifted its holdings in shares of ServiceNow by 326.9% during the 4th quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider's stock valued at $523,243,000 after acquiring an additional 2,615,500 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi to improve real-time data activation across enterprise systems, strengthening its positioning as a platform for agentic AI and workflow automation. ServiceNow and Boomi partner for data activation
• Positive Sentiment: FedEx is deepening its ServiceNow relationship with a procurement integration, a sign that major enterprise customers are broadening use of the platform and could drive more recurring revenue. FedEx advances ServiceNow partnership with procurement integration
• Positive Sentiment: ServiceNow and Accenture launched an engineering program to scale agentic AI for enterprise clients, which supports the company’s AI growth narrative and suggests more commercialization of its platform. ServiceNow (NOW), Accenture Launch Engineering Program to Scale Agentic AI for Enterprises
• Positive Sentiment: Several articles highlighted ServiceNow as an attractive AI/software name, with commentary suggesting the recent sell-off may be overdone and that investors are focusing on the stock’s long-term AI upside. 1 Incredible Artificial Intelligence (AI) Stock to Buy After Its Post-Earnings Sell-Off
• Neutral Sentiment: Analyst and media coverage remains mixed but generally constructive, with pieces debating whether the market is underestimating the impact of AI on ServiceNow’s business. ServiceNow: The Market Is Misunderstanding The Effects Of AI
• Negative Sentiment: A bearish options trade and commentary about further downside show that some traders still expect weakness, reflecting lingering pressure on the stock after its post-earnings decline. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.
• Negative Sentiment: An insider sale by Paul Fipps was disclosed, which can add to short-term caution even though it was small and made under a pre-arranged trading plan. SEC insider filing for Paul Fipps

ServiceNow Stock Up 4.0%

NOW stock opened at $90.56 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $100.89 and a 200-day simple moving average of $129.31. The company has a market capitalization of $93.37 billion, a P/E ratio of 53.97, a PEG ratio of 1.54 and a beta of 0.82. 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 posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) 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 firm's quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 3,696 shares of ServiceNow stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the transaction, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,415 shares of company stock worth $2,210,933. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho lowered their price target on ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Macquarie Infrastructure reduced their price objective on ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, January 29th. Canaccord Genuity Group decreased their target price on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Raymond James Financial lowered their target price on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Finally, Oppenheimer set a $130.00 target price on ServiceNow and gave the company an "outperform" rating in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.71.

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.

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