Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in ServiceNow, Inc. $NOW

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,939,190 shares of the information technology services provider’s stock, valued at approximately $291,803,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its stake in ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after buying an additional 14 shares in the last quarter. Clark Capital Management Group Inc. raised its position in ServiceNow by 3.6% in the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after acquiring an additional 18 shares in the last quarter. American Trust raised its position in ServiceNow by 1.8% in the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after acquiring an additional 18 shares in the last quarter. Morse Asset Management Inc lifted its holdings in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after acquiring an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC lifted its holdings in ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after acquiring an additional 20 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley set a $180.00 target price on shares of ServiceNow in a report on Tuesday, July 21st. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Capital One Financial lifted their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. CLSA initiated coverage on ServiceNow in a report on Monday, July 20th. They issued an “underperform” rating and a $72.00 price target on the stock. Finally, Mizuho cut their price objective on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.76.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Cybersecurity expansion supports long-term growth. ServiceNow’s planned $7.75 billion acquisition of Armis would broaden its AI-powered security platform and strengthen its preventive cyber-defense offerings. The appointment of former Armis executive Simon Mouyal as chief marketing officer also signals an increased focus on security and go-to-market execution. ServiceNow Is Spending $7.75 Billion On AI Security
• Positive Sentiment: Analyst support remains firm. TD Cowen reaffirmed its Buy rating and assigned a $140 price target, implying meaningful upside from the referenced market level. Analysts cited ServiceNow’s expanding security platform, AI workflow opportunities and recurring-revenue model. ServiceNow Earns Buy Rating
• Positive Sentiment: Fundamentals and AI momentum continue to attract dip buyers. Recent commentary points to roughly 24% year-over-year revenue growth and a substantial rebound from the stock’s lows. Some investors view support near the 200-day moving average as an opportunity if the company’s growth remains intact. NOW Stock Has Rebounded Over 54%
• Neutral Sentiment: Institutional positioning is mixed. JPMorgan added a large position, while T. Rowe Price, Wellington Management and several other firms reduced holdings. The split suggests continued disagreement about valuation and the pace of the recovery.
• Neutral Sentiment: A director sold shares under a pre-arranged Rule 10b5-1 plan. Paul Edward Chamberlain sold 1,500 shares worth approximately $188,400, reducing his holdings by 3.11%. Because the transaction was scheduled in advance, it provides limited evidence of a change in the company’s outlook. SEC Insider Filing
• Negative Sentiment: Valuation remains a major concern. Even after a reported 30.5% decline over the past year, commentary argues that ServiceNow still does not look inexpensive, leaving the stock vulnerable to further pressure if growth expectations soften. ServiceNow Stock Still Looks Expensive
• Negative Sentiment: Broad software-sector weakness is weighing on the shares. Investors have been rotating toward semiconductor and AI-hardware stocks, pressuring software names including ServiceNow, Adobe and Intuit. The sizable Armis acquisition also introduces execution, integration and spending risks.

ServiceNow Price Performance

NOW stock opened at $117.70 on Tuesday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The firm has a 50-day moving average of $107.15 and a two-hundred day moving average of $105.49. The firm has a market capitalization of $121.70 billion, a PE ratio of 73.56, a P/E/G ratio of 2.18 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the transaction, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. The trade was a 3.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

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.