Swedbank AB Has $319.03 Million Position in ServiceNow, Inc. $NOW

Swedbank AB lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 10.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,051,476 shares of the information technology services provider’s stock after selling 364,174 shares during the period. Swedbank AB’s holdings in ServiceNow were worth $319,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in ServiceNow by 404.5% in 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 purchasing an additional 81,752,460 shares in the last quarter. State Street Corp boosted its holdings in ServiceNow by 406.6% during the fourth 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 purchasing an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceNow by 371.0% in 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 purchasing an additional 25,517,218 shares during the period. Geode Capital Management LLC grew its stake in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares during the period. Finally, Morgan Stanley raised its holdings in shares of ServiceNow by 335.6% in 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 buying an additional 17,514,679 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Robert W. Baird cut their target price on ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. TD Cowen reiterated a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Weiss Ratings lowered ServiceNow from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. HSBC cut their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, Citigroup boosted their target price on shares of ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.68.

ServiceNow Price Performance

Shares of NOW stock traded up $3.73 during trading hours on Tuesday, hitting $111.66. 8,464,379 shares of the company’s stock were exchanged, compared to its average volume of 23,961,117. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20. The stock has a market cap of $115.12 billion, a price-to-earnings ratio of 66.44, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. 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 stock’s 50-day moving average is $100.53 and its 200-day moving average is $112.60.

ServiceNow (NYSE:NOW) last released 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. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. As a group, research analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim’s dismissive take on “software extinction” fears helped ease worries that AI could hurt enterprise software demand, supporting ServiceNow’s recent climb. Why ServiceNow Stock Is Climbing After Guggenheim Dismisses Software ‘Extinction’ Valuation
• Positive Sentiment: ServiceNow announced additional government and defense AI partnerships, including biosurveillance and health-services modernization projects, reinforcing the company’s AI credibility in mission-critical use cases. ServiceNow (NOW) Lands Defense And State AI Partnerships That Reach Beyond Workflows
• Positive Sentiment: Multiple articles argued that ServiceNow’s numbers continue to show resilience despite AI disruption fears, with commentary suggesting the stock may be undervalued relative to its growth and execution. ServiceNow Was the SaaS Stock AI Was Supposed to Kill. Its Numbers Say Otherwise.
• Positive Sentiment: Recent coverage also highlighted that analysts still see upside in ServiceNow despite some downgrades, keeping valuation debates in focus but not overturning the bullish long-term thesis. Contrarian Alert: 5 Downgraded Stocks That May Reward Long-Term Investors (NOW)

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on 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 $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by insiders.

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.