Rakuten Investment Management Inc. Acquires 119,210 Shares of ServiceNow, Inc. $NOW

Rakuten Investment Management Inc. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 679.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,748 shares of the information technology services provider’s stock after acquiring an additional 119,210 shares during the quarter. Rakuten Investment Management Inc.’s holdings in ServiceNow were worth $21,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. IAG Wealth Partners LLC grew its holdings in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares during the period. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the 3rd quarter worth approximately $29,000. Texas Capital Bancshares Inc TX purchased a new stake in shares of ServiceNow in the 3rd quarter worth approximately $37,000. Ameriflex Group Inc. grew its stake in shares of ServiceNow by 187.5% in the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after buying an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new stake in shares of ServiceNow in the 3rd quarter worth approximately $50,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $104.26 on Tuesday. The business’s fifty day moving average price is $99.85 and its 200-day moving average price is $119.31. The stock has a market capitalization of $107.50 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the firm earned $0.81 EPS. ServiceNow’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOW. Jefferies Financial Group restated a “buy” rating and issued a $135.00 price target (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Piper Sandler cut their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Wells Fargo & Company cut their price target on ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group cut their price target on ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. One investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

Insiders Place Their Bets

In other 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 transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: ServiceNow also benefited from a broader risk-on move after bond yields fell on news of a peace deal tied to reopening the Strait of Hormuz, helping high-quality software names like NOW move higher.
• Positive Sentiment: IBM extended its ServiceNow partnership to help enterprises overcome data and legacy-system barriers to AI adoption, reinforcing ServiceNow’s role in enterprise AI workflows.
• Neutral Sentiment: ServiceNow’s stock outperformed the market in the latest session, reflecting investor interest in the name, but the move was tied more to macro and sentiment factors than a new company-specific financial update.
• Neutral Sentiment: Commentary comparing ServiceNow with Salesforce suggests investors still see competition in cloud software, with some analysts favoring CRM on valuation and AI momentum.
• Negative Sentiment: A report said a ServiceNow security breach exposed enterprise customer data, which could raise concerns about trust, cybersecurity controls, and potential reputational damage.

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.