Forsta AP Fonden Increases Stock Position in ServiceNow, Inc. $NOW

Key Points

• Forsta AP Fonden boosted its ServiceNow stake by 399.2% in the fourth quarter, ending with 257,600 shares worth about $39.5 million.
• Several other institutional investors also increased holdings, and hedge funds and institutions now own 87.18% of ServiceNow’s stock, underscoring strong institutional interest.
• ServiceNow’s latest results showed 22.1% revenue growth to $3.77 billion and EPS of $0.97, matching estimates, while analysts currently rate the stock Moderate Buy with an average target price of $141.85.

Forsta AP Fonden raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 399.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,600 shares of the information technology services provider's stock after purchasing an additional 206,000 shares during the period. Forsta AP Fonden's holdings in ServiceNow were worth $39,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Meridian Wealth Advisors LLC lifted its holdings in shares of ServiceNow by 2.2% in the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock valued at $508,000 after purchasing an additional 12 shares in the last quarter. Valley Brook Capital Group Inc. lifted its holdings in shares of ServiceNow by 2.1% in the third quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock valued at $583,000 after purchasing an additional 13 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock valued at $1,169,000 after purchasing an additional 13 shares in the last quarter. JT Stratford LLC lifted its holdings in shares of ServiceNow by 3.5% in the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after purchasing an additional 13 shares in the last quarter. Finally, Abbot Financial Management Inc. lifted its holdings in shares of ServiceNow by 2.9% in the third quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock valued at $462,000 after purchasing an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the 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 sale, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last three months. 0.34% of the stock is currently owned by insiders.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird reduced their price target on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Citizens Jmp reissued a "market outperform" rating and set a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Wells Fargo & Company reduced their price objective on shares of ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Barclays reissued an "overweight" rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Benchmark assumed coverage on shares of ServiceNow in a research note on Wednesday, April 1st. They set a "buy" rating and a $125.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $141.85.

ServiceNow Stock Performance

Shares of NOW stock opened at $124.56 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50 day moving average price of $98.05 and a 200 day moving average price of $123.74. The firm has a market capitalization of $128.42 billion, a price-to-earnings ratio of 74.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. ServiceNow's revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current 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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