ServiceNow, Inc. $NOW Stock Holdings Boosted by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA increased its ServiceNow stake by 58.3% in the first quarter, buying 2.24 million more shares and lifting its holding to about $635.7 million.
• ServiceNow reported Q1 earnings of $0.97 per share, matching expectations, while revenue of $3.77 billion slightly beat estimates and rose 22.1% year over year.
• Wall Street remains broadly constructive on the stock, with analysts assigning a Moderate Buy consensus and an average price target of $142.17, even as some firms trimmed their targets.

Pictet Asset Management Holding SA grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,080,250 shares of the information technology services provider's stock after purchasing an additional 2,239,988 shares during the quarter. ServiceNow accounts for 0.7% of Pictet Asset Management Holding SA's portfolio, making the stock its 26th largest position. Pictet Asset Management Holding SA owned about 0.59% of ServiceNow worth $635,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC boosted its stake in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after buying an additional 18 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in ServiceNow in the third quarter worth about $29,000. Texas Capital Bancshares Inc TX acquired a new stake in ServiceNow in the 3rd quarter valued at about $37,000. Ameriflex Group Inc. lifted its holdings in ServiceNow by 187.5% in the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock valued at $42,000 after acquiring an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new position in shares of ServiceNow during the 3rd quarter valued at about $50,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 10.2%

Shares of NYSE:NOW opened at $98.64 on Friday. The firm has a 50 day simple moving average of $100.10 and a 200 day simple moving average of $115.27. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $101.70 billion, a PE ratio of 58.79, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting 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%. The company's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Canaccord Genuity Group decreased their price target on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. KeyCorp set a $85.00 price target on ServiceNow and gave the company an "underweight" rating in a report on Thursday, April 23rd. DA Davidson reissued a "buy" rating and set a $190.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Wolfe Research set a $125.00 target price on ServiceNow in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $142.17.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a market rotation into software, with the stock trading near the top of the S&P 500 alongside peers like Workday and AppLovin as investors favor software over chips. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Positive Sentiment: Oppenheimer reiterated an Outperform rating and $130 price target, citing AI growth and ServiceNow’s partnership with Cognizant, which supports expectations for a second-half 2026 reacceleration. Oppenheimer Reaffirms Bullish Outlook on ServiceNow (NOW) Amid AI Growth and Cognizant Partnership
• Positive Sentiment: Recent commentary argues ServiceNow remains a high-quality business trading at a discount, reinforcing the bullish valuation case if growth stays steady. ServiceNow: An Excellent Business Trading at a Discount
• Neutral Sentiment: Industry coverage and comparisons versus Salesforce highlight that ServiceNow’s revenue growth has been more consistent, but the articles are mostly informational rather than a direct catalyst. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?
• Neutral Sentiment: HCLTech’s expanded work with Google Cloud and ServiceNow on AI agents adds ecosystem momentum, but it is not a direct financial update for NOW. HCLTech unveils AI agents on Gemini Enterprise with Google Cloud, ServiceNow
• Negative Sentiment: The recent pullback in tech and AI stocks, especially semiconductors, has kept valuation pressure on the broader sector and likely contributed to recent volatility in ServiceNow shares. Palantir Joins Software Stock Rally Amid Semiconductor, Tech Sell-Off

Insiders Place Their Bets

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 stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by corporate insiders.

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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