Daiichi Life Insurance Co. Ltd. Acquires New Shares in ServiceNow, Inc. $NOW

Daiichi Life Insurance Co. Ltd. acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,490 shares of the information technology services provider’s stock, valued at approximately $7,296,000.

Several other large investors have also added to or reduced their stakes in the stock. Millstone Evans Group LLC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Blueline Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth about $25,000. Measured Wealth Private Client Group LLC boosted its position in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares during the period. Finally, Wealth Watch Advisors INC grew its stake in ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. BMO Capital Markets raised their price objective on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. UBS Group set a $248.00 target price on ServiceNow in a report on Thursday, July 23rd. Morgan Stanley set a $180.00 target price on ServiceNow in a report on Tuesday, July 21st. Finally, Bank of America raised their price objective on ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.24.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the transaction, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

ServiceNow Stock Performance

Shares of NOW opened at $128.73 on Friday. The firm has a market cap of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.26 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. The stock has a fifty day moving average price of $108.88 and a 200-day moving average price of $105.74. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73.

ServiceNow (NYSE:NOW) last announced its quarterly 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. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. Equities research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share 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.