Resona Asset Management Co. Ltd. Has $103.21 Million Holdings in ServiceNow, Inc. $NOW

Key Points

• Resona Asset Management significantly increased its ServiceNow position by 412.8% in the fourth quarter, ending with 672,103 shares worth about $103.2 million.
• ServiceNow reported Q1 earnings of $0.97 per share, matching analyst expectations, while revenue came in at $3.77 billion and rose 22.1% year over year.
• Wall Street sentiment remains generally positive despite recent volatility: several firms cut price targets, but ServiceNow still carries a Moderate Buy consensus and is being viewed by some analysts as an AI beneficiary.

Resona Asset Management Co. Ltd. raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 412.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 672,103 shares of the information technology services provider's stock after acquiring an additional 541,025 shares during the quarter. Resona Asset Management Co. Ltd. owned about 0.06% of ServiceNow worth $103,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. IAG Wealth Partners LLC boosted its stake in shares of ServiceNow by 200.0% in the 3rd 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 during the last quarter. Wealth Watch Advisors INC bought a new position in ServiceNow during the 3rd quarter worth approximately $29,000. Texas Capital Bancshares Inc TX bought a new position in ServiceNow during the 3rd quarter worth approximately $37,000. Ameriflex Group Inc. boosted its stake in ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new position in ServiceNow during the 3rd quarter worth approximately $50,000. Institutional investors own 87.18% of the company's stock.

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 transaction, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were 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 in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,408 shares of company stock valued at $3,927,369 in the last ninety days. Company insiders own 0.34% of the company's stock.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America reinstated coverage on ServiceNow with a Buy rating and a $130 price target, calling the company a likely AI beneficiary in the “agentic AI” era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Analysts and media reports highlighted that ServiceNow is being viewed as one of the software names best positioned to benefit from AI, with concerns about AI disruption to its business model seen as overblown. ServiceNow Stock Has Been Battered By AI Disruption Worries. These Experts Think AI Will Actually Boost Its Business
• Positive Sentiment: ServiceNow also announced a global partnership with Experian to embed data and decisioning tools into its AI platform, supporting autonomous AI agents and strengthening its enterprise workflow offering. ServiceNow (NOW) Partners With Experian to Power Autonomous AI Agents With Trusted Data
• Neutral Sentiment: Broader commentary on the software sector suggested the group may have been over-sold, with Wall Street rotating back into application software names like ServiceNow. ServiceNow’s stock heads for best day in a year — flashing a green light for the software sector
• Negative Sentiment: Some reports still pointed to lingering “SaaSpocalypse” and AI-disruption worries, noting that ServiceNow has been under pressure in recent months despite the latest rebound. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

ServiceNow Price Performance

Shares of NOW opened at $103.52 on Tuesday. The company has a market cap of $106.73 billion, a price-to-earnings ratio of 61.69, a PEG ratio of 1.61 and a beta of 0.82. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company's fifty day simple moving average is $100.18 and its 200 day simple moving average is $128.05. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last issued 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. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOW. Wells Fargo & Company cut their price target 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. Mizuho cut their price target on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Argus cut their price target on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $236.00 price target (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $190.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Two investment 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 assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.89.

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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