Candriam S.C.A. Buys 306,019 Shares of ServiceNow, Inc. $NOW

Key Points

• Candriam S.C.A. boosted its ServiceNow stake by 35.7% in the first quarter, buying 306,019 additional shares and bringing its total holding to 1,163,560 shares valued at about $121.7 million.
• Institutional ownership remains heavy, with 87.18% of ServiceNow shares held by institutional investors and hedge funds, though some insiders also sold stock during the quarter.
• Analysts remain broadly positive on ServiceNow despite some mixed price-target changes, with a consensus rating of “Moderate Buy” and an average target price of $141.47; recent news also highlighted AI-related momentum and a new price target increase from Truist.

Candriam S.C.A. increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,163,560 shares of the information technology services provider's stock after buying an additional 306,019 shares during the quarter. ServiceNow makes up 0.6% of Candriam S.C.A.'s holdings, making the stock its 28th biggest position. Candriam S.C.A. owned about 0.11% of ServiceNow worth $121,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in ServiceNow by 21.8% in the first quarter. Sequoia Financial Advisors LLC now owns 43,742 shares of the information technology services provider's stock valued at $4,573,000 after acquiring an additional 7,833 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of ServiceNow by 262.5% during the 1st quarter. Independence Bank of Kentucky now owns 15,280 shares of the information technology services provider's stock worth $1,598,000 after purchasing an additional 11,065 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of ServiceNow by 7.4% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 23,040 shares of the information technology services provider's stock valued at $2,409,000 after purchasing an additional 1,585 shares during the period. Manning & Napier Advisors LLC raised its holdings in shares of ServiceNow by 18.5% in the 1st quarter. Manning & Napier Advisors LLC now owns 885,241 shares of the information technology services provider's stock valued at $92,924,000 after purchasing an additional 138,398 shares during the period. Finally, Carmel Capital Partners LLC acquired a new stake in ServiceNow in the 1st quarter valued at about $669,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What's Going On?

Analysts Set New Price Targets

A number of equities analysts have weighed in on NOW shares. Wells Fargo & Company lowered their price target on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Guggenheim upgraded ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 target price for the company in a research note on Wednesday, July 1st. UBS Group reissued an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Truist Financial increased their price target on ServiceNow from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $141.47.

ServiceNow Price Performance

ServiceNow stock opened at $107.81 on Friday. The company has a market capitalization of $111.16 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 1.81 and a beta of 0.96. 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, Inc. has a 12 month low of $81.24 and a 12 month high of $210.20. The stock's 50 day moving average is $102.49 and its 200-day moving average is $111.27.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 18.16% and a net margin of 12.59%.The firm's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. Equities research analysts expect that ServiceNow, Inc. will post 2.34 EPS 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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