Bank Julius Baer & Co. Ltd Zurich Raises Stock Position in ServiceNow, Inc. $NOW

Key Points

• Bank Julius Baer & Co. Ltd Zurich increased its ServiceNow stake by 290.8% in the fourth quarter, ending with 276,155 shares valued at about $42.4 million.
• Institutional investors overall still own a large portion of the company, with 87.18% of ServiceNow shares held by institutions, and several other funds also reported sizable increases in their positions.
• ServiceNow’s latest earnings showed $0.97 EPS and $3.77 billion in revenue, both in line or slightly above expectations, while analysts currently rate the stock Moderate Buy with a consensus price target of $144.71.

Bank Julius Baer & Co. Ltd Zurich boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 290.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,155 shares of the information technology services provider's stock after purchasing an additional 205,486 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in ServiceNow were worth $42,375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of ServiceNow by 135.3% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,092 shares of the information technology services provider's stock worth $167,000 after acquiring an additional 628 shares during the period. Bradyco Inc. boosted its position in ServiceNow by 400.0% in the fourth quarter. Bradyco Inc. now owns 6,600 shares of the information technology services provider's stock worth $1,011,000 after purchasing an additional 5,280 shares during the last quarter. Plancorp LLC grew its stake in shares of ServiceNow by 419.1% during the 4th quarter. Plancorp LLC now owns 2,227 shares of the information technology services provider's stock valued at $341,000 after purchasing an additional 1,798 shares during the period. Baader Bank Aktiengesellschaft grew its stake in shares of ServiceNow by 358.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 10,928 shares of the information technology services provider's stock valued at $1,673,000 after purchasing an additional 8,546 shares during the period. Finally, Western Wealth Management LLC increased its position in shares of ServiceNow by 307.3% during the 4th quarter. Western Wealth Management LLC now owns 14,493 shares of the information technology services provider's stock valued at $2,220,000 after purchasing an additional 10,935 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on NOW. Canaccord Genuity Group dropped their price objective on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Capital One Financial increased their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Macquarie Infrastructure dropped their price target on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, January 29th. Stifel Nicolaus cut their price objective on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Finally, UBS Group set a $150.00 target price on ServiceNow in a report on Thursday, April 23rd. Two 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. According to data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus price target of $144.71.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $90.56 on Friday. The company has a market capitalization of $93.37 billion, a P/E ratio of 53.97, a P/E/G ratio of 1.54 and a beta of 0.82. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The firm's 50 day simple moving average is $100.89 and its two-hundred day simple moving average is $129.31. 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 (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm earned $0.81 EPS. The company's revenue was up 22.1% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 3,696 shares of the company's 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 owned 8,061 shares of the company's stock, valued at $820,367.97. This represents a 31.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the 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 sale, the insider owned 29,531 shares of the company's stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,415 shares of company stock valued at $2,210,933 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Key Stories Impacting ServiceNow

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

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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