Franklin Resources Inc. boosted its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 222.1% in the 4th quarter, Holdings Channel reports. The firm owned 7,037,379 shares of the information technology services provider’s stock after acquiring an additional 4,852,839 shares during the quarter. Franklin Resources Inc.’s holdings in ServiceNow were worth $1,078,056,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in NOW. IAG Wealth Partners LLC raised its holdings in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow in the 3rd quarter valued at about $29,000. Texas Capital Bancshares Inc TX purchased a new stake in shares of ServiceNow in the 3rd quarter valued at about $37,000. Ameriflex Group Inc. raised its holdings in shares of ServiceNow by 187.5% in the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 30 shares in the last quarter. Finally, Kelleher Financial Advisors purchased a new stake in shares of ServiceNow in the 3rd quarter valued at about $50,000. Institutional investors own 87.18% of the company’s stock.
ServiceNow Stock Performance
Shares of NYSE NOW opened at $112.45 on Monday. The stock has a market cap of $115.94 billion, a price-to-earnings ratio of 67.02, a P/E/G ratio of 1.86 and a beta of 0.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The stock’s 50-day moving average is $99.48 and its 200 day moving average is $121.71.
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
- Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
- Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
- Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
- Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
- Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
- Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
- Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title
Analyst Ratings Changes
Several research firms have weighed in on NOW. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $236.00 price target (up from $226.00) on shares of ServiceNow in a report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and issued a $150.00 price target on shares of ServiceNow in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft lowered their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Citic Securities lowered their price target on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, Wolfe Research set a $125.00 price target on ServiceNow in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.85.
Check Out Our Latest Analysis on NOW
Insider Buying and Selling
In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value 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. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,071 shares of company stock valued at $2,529,956 over the last quarter. Company insiders own 0.34% of the company’s stock.
ServiceNow 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.
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