BI Asset Management Fondsmaeglerselskab A S Grows Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its ServiceNow stake by 400.6% in the fourth quarter, bringing its holdings to 130,291 shares worth about $20 million.
• Other major institutional investors also expanded their positions, with firms like Vanguard, Geode Capital, and Norges Bank making large buys; overall, 87.18% of ServiceNow shares are owned by hedge funds and other institutions.
• Analysts remain broadly positive despite some lower price targets: ServiceNow has a Moderate Buy consensus rating and a consensus price target of $141.85, while the stock was trading down 5.8% and the company recently reported earnings and revenue roughly in line with estimates.

BI Asset Management Fondsmaeglerselskab A S raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,291 shares of the information technology services provider's stock after buying an additional 104,265 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in ServiceNow were worth $19,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in ServiceNow by 404.5% in the 4th 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. Geode Capital Management LLC lifted its position in shares of ServiceNow by 404.8% in 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 during the period. Norges Bank purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $2,020,992,000. State Street Corp lifted its position in shares of ServiceNow by 1.4% in the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock worth $8,700,970,000 after purchasing an additional 131,080 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $157.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. BTIG Research reissued a "buy" rating and set a $150.00 target price on shares of ServiceNow in a research report on Monday, May 4th. Oppenheimer reissued an "outperform" rating on shares of ServiceNow in a research report on Tuesday, May 26th. Finally, Truist Financial decreased their target price on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% 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 three months, insiders sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company's stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

ServiceNow Trading Down 5.8%

NYSE NOW opened at $112.45 on Friday. The company has a fifty day simple moving average of $99.48 and a two-hundred day simple moving average of $122.03. The stock has a market cap of $115.94 billion, a P/E ratio of 67.02, a P/E/G ratio of 1.86 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

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, hitting analysts' consensus estimates of $0.97. The business had revenue of $3.77 billion during 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 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

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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