Tredje AP fonden Purchases New Position in ServiceNow, Inc. $NOW

Key Points

• Tredje AP fonden disclosed a new stake in ServiceNow, buying 559,590 shares valued at about $85.7 million and ending the quarter with roughly 0.05% ownership.
• Several analysts remain positive on the stock despite recent price-target cuts, with ServiceNow holding a Moderate Buy consensus and an average target price of $141.89.
• ServiceNow reported quarterly EPS of $0.97 on revenue of $3.77 billion, beating revenue expectations and posting 22.1% year-over-year revenue growth.

Tredje AP fonden purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 559,590 shares of the information technology services provider's stock, valued at approximately $85,724,000. Tredje AP fonden owned approximately 0.05% of ServiceNow at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% in the third 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 period. Wealth Watch Advisors INC acquired a new stake in ServiceNow in the third quarter valued at approximately $29,000. Texas Capital Bancshares Inc TX acquired a new stake in ServiceNow in the third quarter valued at approximately $37,000. Ameriflex Group Inc. grew its holdings in ServiceNow by 187.5% in the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 30 shares during the period. Finally, Kelleher Financial Advisors acquired a new stake in ServiceNow in the third quarter valued at approximately $50,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

More ServiceNow News

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. FBN Securities dropped their price objective on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Wells Fargo & Company dropped their price objective on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Robert W. Baird dropped their price objective on ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. JPMorgan Chase & Co. dropped their price objective on ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Finally, UBS Group set a $150.00 price objective on ServiceNow in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $141.89.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $103.52 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The business's 50 day moving average price is $100.18 and its 200-day moving average price is $128.05. The firm has a market capitalization of $106.73 billion, a PE ratio of 61.69, a P/E/G 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.

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

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 41,408 shares of company stock valued at $3,927,369. Insiders own 0.34% of the company's stock.

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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