Korea Investment CORP Invests $71.29 Million in ServiceNow, Inc. $NOW

Korea Investment CORP bought a new position in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 718,044 shares of the information technology services provider’s stock, valued at approximately $71,287,000. Korea Investment CORP owned about 0.07% of ServiceNow as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NOW. Florida Financial Advisors LLC raised 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 worth $280,000 after purchasing an additional 14 shares during the period. Clark Capital Management Group Inc. boosted its holdings in shares of ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after purchasing an additional 18 shares during the last quarter. American Trust grew its stake in shares of ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after buying an additional 18 shares during the period. Morse Asset Management Inc increased its holdings in shares of ServiceNow by 0.5% during the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after buying an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC increased its holdings in shares of ServiceNow by 3.7% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock worth $522,000 after buying an additional 20 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting ServiceNow

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

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. This trade represents a 3.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company’s stock.

ServiceNow Stock Down 0.8%

Shares of NYSE NOW opened at $128.73 on Friday. The stock has a fifty day moving average price of $108.88 and a 200 day moving average price of $105.74. 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, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. The company has a market cap of $133.11 billion, a P/E ratio of 80.46, a P/E/G ratio of 2.28 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. Research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Citizens Jmp reaffirmed a “market outperform” rating and issued a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. UBS Group set a $248.00 price target on ServiceNow in a research note on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $248.00 price objective (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Citigroup reiterated a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.24.

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.