Keybanc Adjusts Rating for ServiceNow Amid Growing Institutional Interest
Fintel reports that on December 13, 2024, Keybanc downgraded their outlook for ServiceNow (WBAG:SNOW) from Overweight to Sector Weight.
Fund Sentiment Shows Increased Engagement
Currently, 3,213 funds or institutions hold positions in ServiceNow, reflecting an increase of 95 owners or 3.05% from the previous quarter. The average portfolio weight dedicated to SNOW across all funds is 0.43%, which has risen by 33.82%. Institutions have raised their total shares owned in the last three months by 1.23%, bringing the total to 216,140K shares.
Price T Rowe Associates possesses 7,446K shares, equating to 3.61% ownership of ServiceNow. This marks a decrease of 3.57% from their previous holding of 7,712K shares, yet they increased their portfolio allocation in SNOW by 5.61% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares now holds 6,530K shares, representing 3.17% ownership. Previously, they had 6,480K shares, demonstrating a small increase of 0.77%, paired with a 7.61% growth in portfolio allocation in the last quarter.
JPMorgan Chase owns 6,436K shares, accounting for 3.12% ownership. This reflects a notable increase of 16.21% from their earlier count of 5,392K shares, although they reduced their portfolio allocation in SNOW significantly by 91.52% recently.
VFINX – Vanguard 500 Index Fund Investor Shares has 5,395K shares, representing 2.61% ownership. They recorded an increase of 2.47% from their prior holding of 5,262K shares and upped their allocation in SNOW by 7.28% this past quarter.
Geode Capital Management reports 4,212K shares, making up 2.04% of ownership. This is an increase of 1.86% from their previous count of 4,134K shares, although they reduced their portfolio allocation by 44.06% in the last quarter.
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This story originally appeared on Fintel.
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