Tredje AP fonden Makes New $85.72 Million Investment in ServiceNow, Inc. $NOW

Tredje AP fonden acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 559,590 shares of the information technology services provider’s stock, valued at approximately $85,724,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its stake in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after buying an additional 81,752,460 shares during the last quarter. Jennison Associates LLC boosted its stake in ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after buying an additional 6,213,762 shares during the last quarter. Nordea Investment Management AB boosted its stake in ServiceNow by 388.7% during the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock worth $720,325,000 after buying an additional 3,743,087 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in ServiceNow by 613.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock worth $588,326,000 after buying an additional 3,301,962 shares during the last quarter. Finally, Swedbank AB boosted its stake in ServiceNow by 326.9% during the fourth quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider’s stock worth $523,243,000 after buying an additional 2,615,500 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $103.52 on Tuesday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The business’s fifty day simple moving average is $100.18 and its 200-day simple moving average is $128.05. The firm has a market cap of $106.73 billion, a PE ratio of 61.69, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. Equities analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent research reports. BMO Capital Markets lowered their price objective on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Oppenheimer set a $130.00 price target on ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Stifel Nicolaus decreased their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Bank of America assumed coverage on ServiceNow in a research note on Monday. They issued a “buy” rating and a $130.00 price target on the stock. 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 analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.89.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction 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 owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’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 completion of the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,408 shares of company stock worth $3,927,369 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Key Headlines Impacting 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 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.