Fisher Asset Management LLC Acquires 705,841 Shares of ServiceNow, Inc. $NOW

Key Points

• Fisher Asset Management increased its ServiceNow position by 8.8%, buying 705,841 shares in the third quarter to hold 8.72 million shares, valued at about $1.17 billion.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $154.50; 36 analysts rate the stock Buy, while three rate it Hold and three Sell.
• ServiceNow’s quarterly revenue rose 20.5% year over year to $4.11 billion, slightly exceeding estimates, while EPS of $1.00 missed the $1.02 consensus.

Fisher Asset Management LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,724,159 shares of the information technology services provider's stock after purchasing an additional 705,841 shares during the quarter. Fisher Asset Management LLC owned 0.84% of ServiceNow worth $1,169,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. SVB Wealth LLC raised its stake in shares of ServiceNow by 74.0% in the third quarter. SVB Wealth LLC now owns 4,556 shares of the information technology services provider's stock valued at $611,000 after acquiring an additional 1,938 shares in the last quarter. Point Windward Advisors Inc. acquired a new position in ServiceNow during the 3rd quarter worth $540,000. PBU The Pension Fund of Early Childhood & Youth Educators increased its holdings in ServiceNow by 28.0% during the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 290,735 shares of the information technology services provider's stock worth $38,961,000 after purchasing an additional 63,636 shares during the period. CENTRAL TRUST Co increased its holdings in ServiceNow by 4.4% during the 3rd quarter. CENTRAL TRUST Co now owns 10,876 shares of the information technology services provider's stock worth $1,457,000 after purchasing an additional 460 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in ServiceNow in the 3rd quarter valued at about $85,754,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore reiterated an "outperform" rating on shares of ServiceNow in a research note on Tuesday, October 13th. BTIG Research lowered their price objective on ServiceNow from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, October 29th. Bank of America upped their target price on shares of ServiceNow from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Deutsche Bank raised their target price on shares of ServiceNow from $135.00 to $155.00 and gave the company a "buy" rating in a report on Monday, September 21st. Finally, Citigroup decreased their price target on shares of ServiceNow from $170.00 to $157.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.50.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline Canney sold 7,847 shares of the firm's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the transaction, the insider directly owned 30,042 shares of the company's stock, valued at approximately $4,145,796. This trade represents a 20.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total transaction of $365,850.00. Following the completion of the transaction, the director owned 43,990 shares in the company, valued at approximately $5,960,645. This represents a 5.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 13,870 shares of company stock valued at $1,880,595. Insiders own 0.34% of the company's stock.

ServiceNow News Roundup

Here's some of the latest news about NOW:

• Positive Sentiment: ServiceNow introduced an Autonomous CRM Engine intended to map existing systems and speed up legacy CRM migrations, with continuous monitoring to catch configuration issues. It is in controlled availability, with wider expansion planned for 2027; Datacom and Xactly are among the adopters. The launch could support customer adoption of its AI-powered workflow platform. ServiceNow launches Autonomous CRM Engine
• Positive Sentiment: Argus maintains a Buy rating, citing ServiceNow’s AI opportunity despite shares trading well below their high. The company also appeared on a list of AI stocks following Wells Fargo’s more constructive outlook on AI infrastructure. Argus still rates ServiceNow a Buy
• Neutral Sentiment: LicenseFortress added ServiceNow to its software-licensing advisory services, including cost reviews and renewal support. This may help customers manage licensing but does not directly signal new ServiceNow revenue. LicenseFortress expands services to include ServiceNow

ServiceNow Price Performance

NOW stock opened at $100.65 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $104.47 billion, a P/E ratio of 72.41, a PEG ratio of 2.01 and a beta of 1.00. The business has a 50 day simple moving average of $132.97 and a 200-day simple moving average of $114.22. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $175.00.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the firm earned $4.82 earnings per share. The business's revenue was up 20.5% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.12 EPS for the current year.

ServiceNow Company Profile

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.

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