484,675 Shares in ServiceNow, Inc. $NOW Purchased by SEB Asset Management AB

SEB Asset Management AB acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 484,675 shares of the information technology services provider’s stock, valued at approximately $50,673,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 34 shares during the period. United Bank lifted its stake in shares of ServiceNow by 15.5% during the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after buying an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in shares of ServiceNow by 2.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after buying an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its stake in shares of ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after buying an additional 609 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock opened at $103.40 on Friday. The firm’s 50 day simple moving average is $103.97 and its 200 day simple moving average is $109.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $106.60 billion, a PE ratio of 61.62, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating and issued a $156.00 price objective (down from $158.00) on shares of ServiceNow in a research note on Wednesday. Weiss Ratings downgraded ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $140.00 price target (up from $130.00) on shares of ServiceNow in a report on Wednesday. Mizuho reduced their price target on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of ServiceNow in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.03.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

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.