DNB Asset Management AS Buys 552,213 Shares of ServiceNow, Inc. $NOW

Key Points

• DNB Asset Management AS sharply increased its stake in ServiceNow, boosting holdings by 475.6% in the fourth quarter to 668,321 shares worth about $102.4 million.
• Several other institutional investors also raised positions, and overall institutional ownership stands at 87.18%, signaling broad professional interest in the stock.
• Analysts remain constructive overall, with ServiceNow carrying a Moderate Buy consensus and an average price target of $144.71, while recent news highlights new AI partnerships and a $4 billion debt offering to support growth and flexibility.

DNB Asset Management AS lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 475.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 668,321 shares of the information technology services provider's stock after acquiring an additional 552,213 shares during the quarter. DNB Asset Management AS owned approximately 0.06% of ServiceNow worth $102,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lockheed Martin Investment Management Co. bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $1,303,000. Sculati Wealth Management LLC raised its holdings in shares of ServiceNow by 401.8% during the fourth quarter. Sculati Wealth Management LLC now owns 17,579 shares of the information technology services provider's stock valued at $2,693,000 after acquiring an additional 14,076 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of ServiceNow by 402.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 23,100 shares of the information technology services provider's stock valued at $3,539,000 after acquiring an additional 18,498 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 33,147 shares of the information technology services provider's stock valued at $5,078,000 after acquiring an additional 26,518 shares in the last quarter. Finally, IMG Wealth Management Inc. raised its holdings in shares of ServiceNow by 2,990.9% during the fourth quarter. IMG Wealth Management Inc. now owns 340 shares of the information technology services provider's stock valued at $52,000 after acquiring an additional 329 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 9,641 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the sale, the insider directly owned 11,757 shares of the company's stock, valued at approximately $1,245,419.01. This represents a 45.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, 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. In the last quarter, insiders sold 22,415 shares of company stock valued at $2,210,933. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NOW has been the subject of a number of recent analyst reports. TD Cowen restated a "buy" rating and set a $140.00 target price on shares of ServiceNow in a report on Thursday, April 23rd. Wells Fargo & Company decreased their target price on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Barclays restated an "overweight" rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. 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 report on Thursday, April 23rd. Finally, Capital One Financial upped their target price on ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $144.71.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow's Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

ServiceNow Price Performance

NOW opened at $95.15 on Friday. The stock has a fifty day simple moving average of $100.52 and a two-hundred day simple moving average of $129.07. 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 company has a market cap of $98.10 billion, a price-to-earnings ratio of 56.71, a price-to-earnings-growth ratio of 1.60 and a beta of 0.82. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. Research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share 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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