Nomura Asset Management Co. Ltd. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 362.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 810,917 shares of the information technology services provider’s stock after purchasing an additional 635,490 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in ServiceNow were worth $124,224,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. IAG Wealth Partners LLC increased its position in shares of ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 18 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow in the third quarter worth approximately $29,000. Texas Capital Bancshares Inc TX purchased a new position in shares of ServiceNow in the third quarter worth approximately $37,000. Ameriflex Group Inc. increased its position in shares of ServiceNow by 187.5% in the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors purchased a new position in shares of ServiceNow in the third quarter worth approximately $50,000. 87.18% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Price Performance
NYSE NOW opened at $124.56 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The stock’s 50-day moving average is $98.05 and its two-hundred day moving average is $123.74. 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 firm has a market cap of $128.42 billion, a P/E ratio of 74.23, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82.
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
- Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow’s stock soars toward historic month as AI fears fade across software
- Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
- Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
- Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume (NYSE:NOW)
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. TD Cowen reissued a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. Truist Financial decreased their target price on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Wolfe Research set a $125.00 target price on ServiceNow in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday. Finally, Wells Fargo & Company decreased their target price on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.85.
Check Out Our Latest Stock Report on ServiceNow
Insider Buying and Selling
In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’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 transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents 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 at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,071 shares of company stock valued at $2,529,956 in the last three months. 0.34% of the stock is currently owned by corporate insiders.
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.
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