Sun Sep 15 17:18:14 UTC 2024: ## ServiceNow (NOW) Sees Increased Institutional Interest and Analyst Optimism
**New York, NY – September 15, 2024** – ServiceNow, Inc. (NYSE:NOW) continues to attract the attention of institutional investors, with several notable changes in their holdings during the second quarter. CoreCap Advisors LLC initiated a new position in the information technology services provider, purchasing 552 shares valued at approximately $434,000.
Other significant moves include Vanguard Group Inc. increasing its stake in ServiceNow by 1.8%, Norges Bank acquiring a new position worth $1,648,259,000, and DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosting its holdings by 18.3%. These actions highlight the growing confidence in ServiceNow’s future prospects.
The company’s recent quarterly earnings report also reinforced this sentiment, with ServiceNow exceeding analysts’ expectations on both earnings per share and revenue. This strong performance has further fueled investor interest, as demonstrated by the fact that institutional investors now own 87.18% of the company’s stock.
Analyst sentiment remains positive as well. While KeyCorp lowered its target price on ServiceNow from $950.00 to $920.00, several other analysts have raised their price objectives, including Wells Fargo & Company, TD Cowen, Piper Sandler, and BMO Capital Markets. The overall consensus rating for ServiceNow is “Moderate Buy” with an average price target of $849.62.
While insider trading activity saw some selling, the overall picture remains bullish. Despite these sales, the positive earnings, analyst optimism, and continued institutional buying signal a strong future for ServiceNow.
**Disclaimer:** This news article is intended for informational purposes only and does not constitute financial advice.
First Piper 