ING Groep NV Has $33.71 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• ING Groep NV dramatically increased its ServiceNow stake by 782.3% in the fourth quarter, ending with 220,070 shares worth about $33.7 million.
• Institutional ownership remains very high, with 87.18% of ServiceNow shares held by institutions and hedge funds. Several smaller investors also added positions during the quarter.
• Insiders have been selling shares recently, including director Anita M. Sands and insider Paul Fipps, while analysts remain broadly constructive with a Moderate Buy consensus and an average price target of $141.85.

ING Groep NV raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 782.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,070 shares of the information technology services provider's stock after purchasing an additional 195,126 shares during the period. ING Groep NV's holdings in ServiceNow were worth $33,713,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC raised its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in ServiceNow during the third quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX acquired a new position in ServiceNow during the third quarter valued at approximately $37,000. Ameriflex Group Inc. grew its stake in shares of ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock worth $42,000 after buying an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new stake in shares of ServiceNow during the third quarter worth $50,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

ServiceNow News Roundup

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Evercore boosted their target price on shares of ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Weiss Ratings cut shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, April 21st. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Citigroup raised their price objective on shares of ServiceNow from $154.00 to $158.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average price target of $141.85.

ServiceNow Stock Performance

Shares of NOW stock opened at $112.45 on Friday. The business's 50 day simple moving average is $99.48 and its 200 day simple moving average is $122.03. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The stock has a market capitalization of $115.94 billion, a PE ratio of 67.02, a PEG ratio of 1.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm earned $0.81 earnings per share. ServiceNow's quarterly revenue was up 22.1% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

About ServiceNow

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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