iA Global Asset Management Inc. Raises Stake in ServiceNow, Inc. $NOW

iA Global Asset Management Inc. raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 31.3% during the first quarter, HoldingsChannel reports. The firm owned 100,594 shares of the information technology services provider’s stock after buying an additional 23,989 shares during the period. iA Global Asset Management Inc.’s holdings in ServiceNow were worth $10,517,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of 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. State Street Corp raised its stake in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in ServiceNow by 371.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC lifted its position in ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares during the period. Finally, Morgan Stanley lifted its position in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NYSE NOW opened at $105.81 on Thursday. The firm has a market capitalization of $109.09 billion, a P/E ratio of 63.06, a PEG ratio of 1.65 and a beta of 0.96. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company’s fifty day moving average is $100.35 and its two-hundred day moving average is $113.40. 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 results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. Analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. FBN Securities dropped their target price on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Evercore increased their price target on ServiceNow from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Robert W. Baird lowered their price objective 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. TD Cowen reissued a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, UBS Group restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.68.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company’s 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 transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by corporate insiders.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy and said the stock’s valuation looks too depressed despite real AI-related risks, helping spark a rally in the shares. ServiceNow and Salesforce shares now look like buys, as ‘Armageddon’ fears are too extreme, analyst says
• Positive Sentiment: ServiceNow and Accenture launched a joint initiative to modernize enterprise risk management with agentic AI, reinforcing the company’s position in AI-powered workflow and security software. Why ServiceNow Stock Is Rising Today
• Positive Sentiment: Analysts and recent articles highlighted ServiceNow’s enterprise AI adoption, security expansion, and strong workflow demand as potential supports for long-term growth and future earnings upside. NOW Benefits From Enterprise AI Adoption: Buy, Sell, or Hold the Stock?

ServiceNow 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.