Rathbones Group PLC Buys 623,446 Shares of ServiceNow, Inc. $NOW

Rathbones Group PLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 419.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 771,946 shares of the information technology services provider’s stock after purchasing an additional 623,446 shares during the quarter. Rathbones Group PLC’s holdings in ServiceNow were worth $118,254,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NOW. Vanguard Group Inc. grew its position in shares of ServiceNow by 404.5% in the 4th 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 period. Jennison Associates LLC grew its position in shares of ServiceNow by 280.1% in the 4th 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 period. Nordea Investment Management AB grew its position in shares of ServiceNow by 388.7% in the 4th 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 period. Pictet Asset Management Holding SA grew its position in shares of ServiceNow by 613.4% in the 4th 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 period. Finally, Swedbank AB grew its position in shares of ServiceNow by 326.9% in the 4th 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 period. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOW. HSBC reduced their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. UBS Group set a $150.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. DA Davidson reaffirmed a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Oppenheimer set a $130.00 target price on shares of ServiceNow and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Finally, Robert W. Baird reduced their target price on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.89.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating and a $130 target, calling it an AI winner in the emerging agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Several articles said Wall Street is warming to ServiceNow because its workflow software could serve as a control layer for AI agents, easing fears that AI will replace its business. Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Positive Sentiment: Analysts and commentators highlighted that the recent selloff may have been overdone, with ServiceNow’s valuation looking more attractive after a sharp yearlong decline. Assessing ServiceNow (NOW) Valuation After A Year Of Sharp Share Price Declines
• Positive Sentiment: Media and analyst pieces also framed the stock’s rebound as part of a broader rotation back into software names, with ServiceNow singled out as one of the sector leaders. ServiceNow and Snowflake Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Some reports noted that the stock has fallen sharply over the past year despite revenue and profit growth, so investors are still weighing strong fundamentals against a still-extended valuation. After a 50% Drop, Is ServiceNow Stock Worth Buying?
• Negative Sentiment: There are still lingering concerns that AI disruption could pressure traditional enterprise software, and some commentary warned the recent bounce could fade if those fears return. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 31,767 shares of company stock valued at $2,906,098. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $103.13 on Thursday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company’s 50-day moving average is $99.35 and its 200 day moving average is $126.89. The company has a market capitalization of $106.33 billion, a price-to-earnings ratio of 61.46, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

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

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.