DNB Asset Management AS Grows Stake in ServiceNow, Inc. $NOW

DNB Asset Management AS raised its stake in ServiceNow, Inc. (NYSE:NOW) by 475.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 668,321 shares of the information technology services provider’s stock after acquiring an additional 552,213 shares during the period. DNB Asset Management AS’s holdings in ServiceNow were worth $102,380,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC grew its stake 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 during the last quarter. Noble Wealth Management PBC lifted its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted its holdings 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 purchasing an additional 132 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in shares of ServiceNow during the fourth quarter valued at $26,000. Finally, Albion Financial Group UT lifted its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow’s Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

ServiceNow Stock Up 5.1%

NOW stock opened at $95.15 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The business’s 50-day moving average is $100.52 and its two-hundred day moving average is $129.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $98.10 billion, a price-to-earnings ratio of 56.71, a P/E/G ratio of 1.60 and a beta of 0.82.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. ServiceNow’s revenue was up 22.1% on a year-over-year basis. As a group, analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated 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 owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 9,641 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the transaction, the insider directly owned 11,757 shares in the company, valued at approximately $1,245,419.01. This represents a 45.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 22,415 shares of company stock worth $2,210,933. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their price target on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Wolfe Research set a $125.00 price target on ServiceNow in a report on Thursday, April 23rd. BTIG Research reaffirmed a “buy” rating and set a $150.00 price target on shares of ServiceNow in a report on Monday, May 4th. Oppenheimer set a $130.00 price target on ServiceNow and gave the company an “outperform” rating in a report on Wednesday, April 15th. Finally, Stifel Nicolaus lowered their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.71.

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.