ServiceNow, Inc. $NOW Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management sharply increased its ServiceNow stake by 381.8% in the fourth quarter, ending with 59,766 shares valued at about $9.16 million.
• Several other institutions also added to their positions, and overall institutional ownership remains high at 87.18% of the stock.
• ServiceNow’s latest earnings were solid, with EPS of $0.97 and revenue of $3.77 billion, topping estimates slightly; however, analysts have trimmed price targets even as the consensus rating stays Moderate Buy.

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 381.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,766 shares of the information technology services provider's stock after purchasing an additional 47,362 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in ServiceNow were worth $9,156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Avidian Wealth Enterprises LLC raised its position in shares of ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider's stock worth $417,000 after purchasing an additional 11 shares during the period. Meridian Wealth Advisors LLC raised its position in shares of ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after purchasing an additional 12 shares during the period. Valley Brook Capital Group Inc. raised its position in shares of ServiceNow by 2.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock worth $583,000 after purchasing an additional 13 shares during the period. Catalyst Financial Partners LLC increased its holdings in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock worth $1,169,000 after acquiring an additional 13 shares during the period. Finally, JT Stratford LLC increased its holdings in shares of ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock worth $354,000 after acquiring an additional 13 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. 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. Insiders sold a total of 31,767 shares of company stock worth $2,906,098 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Raymond James Financial dropped their price objective on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Robert W. Baird dropped their price objective on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Finally, KeyCorp set a $85.00 target price on ServiceNow and gave the company an "underweight" rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $141.85.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage with a Buy rating, reinforcing optimism that ServiceNow can benefit from enterprise AI adoption and workflow automation. Article: Why ServiceNow (NOW) Is Still an AI Workflow Recovery Bet
• Positive Sentiment: Multiple analysts and media reports are portraying NOW as a prime “agentic AI” play, which is improving sentiment after a long selloff. Article: Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Neutral Sentiment: Citic Securities lowered its price target to $140 from $168 but kept a Buy rating, which is still constructive overall but signals tempered expectations. Article: Citic Securities Adjusts ServiceNow Price Target
• Neutral Sentiment: Additional commentary from conference transcripts and fund letters suggests institutional investors remain constructive, but these items are less likely to move the stock on their own. Article: ServiceNow Presents at J.P. Morgan Conference Transcript

ServiceNow Stock Down 3.5%

ServiceNow stock opened at $99.70 on Friday. The stock has a market cap of $102.79 billion, a price-to-earnings ratio of 59.42, a PEG ratio of 1.87 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $99.01 and its two-hundred day moving average price is $126.30. 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 released its earnings results 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 for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. On average, analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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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