Phoenix Financial Ltd. Acquires 27,535 Shares of ServiceNow, Inc. $NOW

Key Points

• Phoenix Financial Ltd. increased its ServiceNow stake by 529.2% in the fourth quarter, ending with 32,738 shares valued at about $5.0 million.
• Institutional ownership remains very high, with 87.18% of ServiceNow shares held by institutions, while several large investors such as Vanguard and Jennison also significantly boosted their positions.
• ServiceNow reported Q1 results in line with EPS expectations at $0.97 per share, with revenue of $3.77 billion up 22.1% year over year; analysts still rate the stock a Moderate Buy with a consensus price target of $144.71.

Phoenix Financial Ltd. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 529.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,738 shares of the information technology services provider's stock after acquiring an additional 27,535 shares during the period. Phoenix Financial Ltd.'s holdings in ServiceNow were worth $5,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares in the last quarter. State Street Corp grew its holdings in ServiceNow by 1.4% during the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock worth $8,700,970,000 after acquiring an additional 131,080 shares in the last quarter. Jennison Associates LLC grew its holdings in ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after acquiring an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB grew its holdings in ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after acquiring an additional 3,743,087 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in ServiceNow by 613.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock worth $588,326,000 after acquiring an additional 3,301,962 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 9,641 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the transaction, the insider directly owned 11,757 shares of the company's stock, valued at $1,245,419.01. The trade was a 45.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,415 shares of company stock valued at $2,210,933 over the last ninety days. 0.34% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $95.15 on Friday. The firm has a market capitalization of $98.10 billion, a P/E ratio of 56.71, a PEG ratio of 1.60 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $100.52 and a 200 day moving average price of $129.07. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow's revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.81 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, April 21st. Wolfe Research set a $125.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Citizens Jmp restated a "market outperform" rating and issued a $157.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. BTIG Research restated a "buy" rating and issued a $150.00 price target on shares of ServiceNow in a report on Monday, May 4th. Finally, BNP Paribas Exane upgraded shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price target on the stock in a report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $144.71.

Key ServiceNow News

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 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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