Legal & General Group Plc Buys 5,535,170 Shares of ServiceNow, Inc. $NOW

Key Points

• Legal & General Group Plc dramatically increased its ServiceNow stake by 406.8% in the fourth quarter, ending with 6.9 million shares worth about $1.06 billion. The firm now owns roughly 0.66% of the company.
• ServiceNow reported quarterly earnings of $0.97 per share, matching analyst expectations, while revenue came in at $3.77 billion, slightly above estimates and up 22.1% year over year. Analysts still expect the company to earn $2.35 per share for the current fiscal year.
• Wall Street remains broadly constructive despite some lower price targets: analysts have a consensus rating of Moderate Buy with an average target price of $141.85. Recent coverage continues to highlight ServiceNow’s AI workflow strategy and enterprise adoption as potential growth drivers.

Legal & General Group Plc lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 406.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,895,985 shares of the information technology services provider's stock after buying an additional 5,535,170 shares during the quarter. Legal & General Group Plc owned about 0.66% of ServiceNow worth $1,056,396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NOW. Brighton Jones LLC raised its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after buying an additional 30 shares during the period. Sivia Capital Partners LLC raised its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock worth $861,000 after buying an additional 34 shares during the period. United Bank raised its stake in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider's stock worth $1,562,000 after buying an additional 204 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock worth $1,976,000 after buying an additional 42 shares during the period. Finally, Nebula Research & Development LLC raised its stake in shares of ServiceNow by 205.1% in the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock worth $931,000 after buying an additional 609 shares during the period. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW opened at $102.13 on Monday. 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, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The stock's 50 day simple moving average is $98.74 and its two-hundred day simple moving average is $125.73. The company has a market cap of $105.29 billion, a price-to-earnings ratio of 60.86, a PEG ratio of 1.85 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The company's revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available through 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 Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Recent coverage argues that ServiceNow’s broader AI roadmap and new workflow products are helping drive investor optimism, with one report saying fresh AI initiatives and analyst support helped lift the shares. ServiceNow Rally Builds Around Broader AI Strategy
• Positive Sentiment: Bank of America reportedly reinstated coverage with a Buy rating and a $130 price target, reinforcing the view that ServiceNow could benefit as an AI workflow recovery story. Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Another article highlights ServiceNow as a “mispriced” AI beneficiary, pointing to strong subscription growth, healthy free-cash-flow margins, and expanding enterprise adoption of its agentic AI tools. ServiceNow: The Big Mispriced Tollbooth For Agentic AI
• Positive Sentiment: Market commentary notes that ServiceNow has outperformed since its last earnings report, with investors still looking for upside from earnings estimate trends and AI-related growth expectations. Why Is ServiceNow (NOW) Up 17.6% Since Last Earnings Report?
• Positive Sentiment: Additional valuation-focused coverage grouped ServiceNow with other software names that may be trading at compelling levels despite continued growth forecasts, supporting the bullish case for the stock. Intuit Drops 63%: Are Software Stocks Deep Value or a Trap?
• Neutral Sentiment: Citic Securities lowered its price target on ServiceNow to $140 from $168 but kept a Buy rating, which tempers but does not reverse the constructive outlook. Citic Securities adjusts ServiceNow price target

Analysts Set New Price Targets

Several analysts recently issued reports on NOW shares. JPMorgan Chase & Co. decreased their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $121.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. FBN Securities decreased their target price on ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $115.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Robert W. Baird decreased their target price on ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $141.85.

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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