28,226 Shares in ServiceNow, Inc. $NOW Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,226 shares of the information technology services provider’s stock, valued at approximately $2,802,000.

A number of other institutional investors and hedge funds have also modified their holdings of NOW. Wealth Watch Advisors INC bought a new stake in ServiceNow in the 3rd quarter worth about $29,000. Kelleher Financial Advisors purchased a new stake in shares of ServiceNow during the 3rd quarter valued at about $50,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 23 shares during the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of ServiceNow in the second quarter worth approximately $154,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the period. Institutional investors own 87.18% of the company’s stock.

Trending Headlines about 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

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director directly owned 46,690 shares in the company, valued at $5,864,264. This represents a 3.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $128.73 on Friday. The firm has a 50 day moving average of $108.88 and a 200 day moving average 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. The firm has a market capitalization of $133.11 billion, a price-to-earnings ratio of 80.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citizens Jmp restated a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. Truist Financial lifted their target price on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Evercore reissued an “outperform” rating and set a $160.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Jefferies Financial Group restated a “buy” rating and issued a $140.00 price target (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. Finally, Morgan Stanley set a $180.00 price objective on ServiceNow in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.24.

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.