ServiceNow, Inc. $NOW Stock: BOCHK Asset Management Ltd Raises Holdings

Key Points

• BOCHK Asset Management increased its ServiceNow holdings by 79.1% in the third quarter to 72,025 shares valued at approximately $9.65 million. Institutional investors collectively own 87.18% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $154.50, despite targets ranging from $72 to $201 and some recent downgrades.
• ServiceNow’s third-quarter revenue rose 20.5% year over year to $4.11 billion and slightly exceeded estimates, but EPS missed expectations at $1.00. Increased AI investment pressured operating margins, while investors remain concerned that agentic AI could threaten the company’s per-seat software model.

BOCHK Asset Management Ltd increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 79.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 72,025 shares of the information technology services provider's stock after purchasing an additional 31,815 shares during the period. ServiceNow accounts for approximately 1.4% of BOCHK Asset Management Ltd's holdings, making the stock its 16th largest position. BOCHK Asset Management Ltd's holdings in ServiceNow were worth $9,652,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Summit Wealth Group LLC Co. raised its stake in ServiceNow by 8.6% in the 3rd quarter. Summit Wealth Group LLC Co. now owns 8,596 shares of the information technology services provider's stock valued at $1,152,000 after acquiring an additional 682 shares during the period. Traynor Capital Management Inc. lifted its holdings in ServiceNow by 39.0% during the 3rd quarter. Traynor Capital Management Inc. now owns 62,823 shares of the information technology services provider's stock valued at $8,419,000 after purchasing an additional 17,634 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in ServiceNow by 3,959.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 736,917 shares of the information technology services provider's stock worth $98,235,000 after purchasing an additional 718,762 shares during the period. Greenleaf Trust boosted its position in ServiceNow by 408.2% during the third quarter. Greenleaf Trust now owns 109,783 shares of the information technology services provider's stock worth $14,712,000 after purchasing an additional 88,182 shares during the period. Finally, Nippon Life Global Investors Americas Inc. boosted its position in ServiceNow by 396.2% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 83,270 shares of the information technology services provider's stock worth $11,159,000 after purchasing an additional 66,490 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NOW. Cantor Fitzgerald upped their price objective on shares of ServiceNow from $174.00 to $201.00 and gave the company an "overweight" rating in a report on Monday, October 26th. CLSA started coverage on shares of ServiceNow in a research note on Monday, July 20th. They set an "underperform" rating and a $72.00 target price for the company. Zacks Research downgraded shares of ServiceNow from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. BTIG Research decreased their price target on shares of ServiceNow from $170.00 to $150.00 and set a "buy" rating on the stock in a research note on Thursday, October 29th. Finally, Truist Financial set a $150.00 price target on shares of ServiceNow and gave the company a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $154.50.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $105.96 on Tuesday. The company's 50 day moving average price is $138.25 and its two-hundred day moving average price is $115.29. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $184.43. The firm has a market cap of $109.56 billion, a PE ratio of 82.04, a PEG ratio of 2.75 and a beta of 0.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.02). The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.09 billion. ServiceNow had a return on equity of 15.38% and a net margin of 9.36%. The firm's revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.82 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 2.14 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the transaction, the director directly owned 43,990 shares of the company's stock, valued at $5,960,645. The trade was a 5.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 2,034 shares of the company's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the sale, the insider owned 18,305 shares of the company's stock, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,081 shares of company stock valued at $1,937,904 in the last three months. Corporate insiders own 0.34% of the company's stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow launched its Control Tower Alliance to help large enterprises govern and control AI deployments. Founding partners include OpenAI, NVIDIA, Amazon Web Services, Cisco, Anthropic, and Kong, while expanded collaborations with OpenAI, Google Cloud, and Hewlett Packard Enterprise could strengthen ServiceNow’s position in AI workflows, security, and enterprise support. ServiceNow Rolls Out Control Tower Alliance
• Positive Sentiment: Despite the market reaction, ServiceNow continues to show consistent revenue growth and substantially higher revenue generation than UiPath. Its workflow automation platform and enterprise integrations are also expanding faster than Adobe’s top line, supporting the long-term growth case. ServiceNow vs. UiPath Adobe vs. ServiceNow
• Neutral Sentiment: CFO Gina Mastantuono rejected the narrative that AI is disrupting enterprise software, saying ServiceNow is strategically investing in customer success and accelerating AI adoption. The explanation may reassure long-term investors, but it also highlights near-term pressure on profitability. ServiceNow CFO Discusses AI Disruption
• Negative Sentiment: Third-quarter revenue of $4.11 billion was slightly above expectations, but adjusted EPS of $1.00 missed the $1.02 consensus estimate. Management’s increased AI-related investment and business-model changes caused a notable operating-margin decline, raising questions about the pace and quality of future growth. Top Analyst Questions From ServiceNow’s Q3 Earnings Call
• Negative Sentiment: Investors are increasingly worried that agentic AI could reduce demand for per-seat software licenses, creating a broader threat to ServiceNow’s business model. This concern, combined with a downgrade from an analyst, intensified selling despite 20.5% year-over-year revenue growth. ServiceNow and Agentic AI Disruption ServiceNow Analyst Downgrade

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company's products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.

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