Rathbones Group PLC Raises Stock Position in ServiceNow, Inc. $NOW

Key Points

• Rathbones Group PLC dramatically increased its ServiceNow stake by 419.8% in the fourth quarter, ending with 771,946 shares valued at about $118.3 million.
• ServiceNow’s latest quarterly results met Wall Street expectations, posting $0.97 EPS on $3.77 billion in revenue, with revenue up 22.1% year over year.
• Analyst sentiment remains broadly positive: multiple firms reiterated or raised Buy ratings, and Bank of America restarted coverage with a $130 price target while highlighting ServiceNow as an AI beneficiary.

Rathbones Group PLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 419.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 771,946 shares of the information technology services provider's stock after acquiring an additional 623,446 shares during the period. Rathbones Group PLC owned 0.07% of ServiceNow worth $118,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cohen Klingenstein LLC boosted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after purchasing an additional 8,000 shares in the last quarter. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock valued at $7,218,000 after purchasing an additional 38,583 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after purchasing an additional 2,064,440 shares in the last quarter. Torray Investment Partners LLC boosted its stake in shares of ServiceNow by 390.5% in the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock valued at $6,224,000 after purchasing an additional 32,345 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 1.3%

NYSE:NOW opened at $103.13 on Thursday. The company has a fifty day moving average of $99.35 and a 200 day moving average of $126.89. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. 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 firm has a market capitalization of $106.33 billion, a P/E ratio of 61.46, a P/E/G ratio of 1.85 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts' consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the business posted $0.81 EPS. The firm's revenue was up 22.1% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction 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 in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the company's 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 completion of the transaction, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,767 shares of company stock valued at $2,906,098 over the last quarter. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. BNP Paribas Exane raised shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price objective for the company in a research note on Monday, March 16th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Benchmark initiated coverage on shares of ServiceNow in a report on Wednesday, April 1st. They set a "buy" rating and a $125.00 price target for the company. Finally, Bank of America initiated coverage on shares of ServiceNow in a report on Monday. They set a "buy" rating and a $130.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $141.89.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating and a $130 target, calling it an AI winner in the emerging agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Several articles said Wall Street is warming to ServiceNow because its workflow software could serve as a control layer for AI agents, easing fears that AI will replace its business. Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Positive Sentiment: Analysts and commentators highlighted that the recent selloff may have been overdone, with ServiceNow’s valuation looking more attractive after a sharp yearlong decline. Assessing ServiceNow (NOW) Valuation After A Year Of Sharp Share Price Declines
• Positive Sentiment: Media and analyst pieces also framed the stock’s rebound as part of a broader rotation back into software names, with ServiceNow singled out as one of the sector leaders. ServiceNow and Snowflake Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Some reports noted that the stock has fallen sharply over the past year despite revenue and profit growth, so investors are still weighing strong fundamentals against a still-extended valuation. After a 50% Drop, Is ServiceNow Stock Worth Buying?
• Negative Sentiment: There are still lingering concerns that AI disruption could pressure traditional enterprise software, and some commentary warned the recent bounce could fade if those fears return. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

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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