Saudi Central Bank Purchases 34,928 Shares of ServiceNow, Inc. $NOW

Saudi Central Bank grew its position in ServiceNow, Inc. (NYSE:NOW) by 91.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,220 shares of the information technology services provider’s stock after buying an additional 34,928 shares during the period. Saudi Central Bank’s holdings in ServiceNow were worth $7,269,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NOW. BlackRock Inc. acquired a new position in ServiceNow in the second quarter valued at about $9,536,615,000. State Street Corp raised its position in shares of ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after purchasing an additional 25,517,218 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow was selected as a “final trade” on CNBC’s Halftime Report, with the bullish case citing analyst support and the company’s opportunity to expand its AI offerings. Nvidia, ServiceNow, Spotify And A Financial Stock On CNBC’s Final Trades
• Positive Sentiment: ServiceNow gained alongside enterprise AI software peers as investor concerns that AI could weaken traditional seat-based software revenue eased. The broader sector rebound provided a favorable trading backdrop for NOW. Palantir Rallies 7% as PwC Alliance Counters Michael Burry Bear Case
• Positive Sentiment: Partner adoption is strengthening ServiceNow’s AI-platform narrative. Pricefx’s Deal Optimization App embeds AI pricing, negotiation, and recommendation tools into ServiceNow workflows, suggesting the platform is becoming an important distribution channel for enterprise AI applications. Is ServiceNow Quietly Becoming the Default AI Commerce Platform for Enterprise Partners?
• Neutral Sentiment: Analysts and investors remain selective within the software group. Although the sector has rebounded, commentary emphasizes that strong performance varies widely among companies, increasing scrutiny of ServiceNow’s valuation and growth durability. Software Stocks Are Back. 2 Winners, 2 Losers—and Salesforce
• Negative Sentiment: Reports of insider selling are weighing on sentiment and may be prompting investors to lock in gains after ServiceNow’s recent rally. Separate coverage also questioned whether the stock’s rapid advance has outpaced near-term fundamentals, making profit-taking a risk. ServiceNow Stock Price Down Following Insider Selling ServiceNow Just Rallied 28% in a Month: Take Profits, or Buy More?

Insider Activity

In other news, insider Jacqueline Canney sold 7,847 shares of ServiceNow stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $138.00, for a total value of $1,082,886.00. Following the sale, the insider directly owned 30,042 shares in the company, valued at $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the sale, the insider directly owned 18,305 shares in the company, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,081 shares of company stock worth $1,937,904 over the last ninety days. Insiders own 0.34% of the company’s stock.

ServiceNow Stock Down 2.9%

NYSE:NOW opened at $141.31 on Friday. The stock has a 50-day simple moving average of $117.21 and a 200 day simple moving average of $107.95. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73. The company has a market cap of $146.11 billion, a PE ratio of 88.32, a PEG ratio of 2.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOW. BTIG Research reissued a “buy” rating and set a $150.00 target price on shares of ServiceNow in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Wednesday, July 1st. UBS Group set a $248.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, Citigroup reissued a “market outperform” rating on shares of ServiceNow in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.24.

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.