ServiceNow, Inc. $NOW Stock Position Raised by NewEdge Wealth LLC

NewEdge Wealth LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 356.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,234 shares of the information technology services provider’s stock after purchasing an additional 47,823 shares during the period. NewEdge Wealth LLC’s holdings in ServiceNow were worth $9,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Cohen Klingenstein LLC grew its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after purchasing an additional 2,064,440 shares in the last quarter. Torray Investment Partners LLC grew its holdings in shares of ServiceNow by 390.5% during the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider’s stock worth $6,224,000 after purchasing an additional 32,345 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. Finally, Narwhal Capital Management grew its holdings in shares of ServiceNow by 763.5% during the 4th quarter. Narwhal Capital Management now owns 16,977 shares of the information technology services provider’s stock worth $2,601,000 after purchasing an additional 15,011 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank Of Canada restated an “outperform” rating and set a $121.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Canaccord Genuity Group cut their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Barclays restated an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Truist Financial cut their target price on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $144.71.

Insider Transactions at ServiceNow

In other news, insider Paul Fipps sold 3,696 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider owned 8,061 shares in the company, valued at $820,367.97. The trade was a 31.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 25,164 shares of company stock worth $2,497,021. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 0.0%

NOW stock opened at $91.14 on Monday. The company has a market cap of $93.96 billion, a P/E ratio of 54.31, a PEG ratio of 1.61 and a beta of 0.82. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $102.80 and a 200-day moving average of $132.71.

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

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a partnership with Accenture to deliver agentic AI at enterprise scale, reinforcing its role as a core platform for enterprise AI workflows and potentially expanding adoption. ServiceNow, Accenture partner to deliver agentic AI at enterprise scale
• Positive Sentiment: Management is pushing a long-term growth narrative, saying AI can accelerate ServiceNow’s business and projecting more than $30 billion in subscription revenue by 2030, which helped lift sentiment around the stock. ServiceNow Targets $30 Billion As AI Revenue Story Accelerates
• Positive Sentiment: Several analyst notes were supportive, including higher price targets and reiterated Buy/Outperform ratings, signaling that Wall Street still sees upside despite the selloff. Capital One Financial Increases ServiceNow (NYSE:NOW) Price Target to $120.00
• Positive Sentiment: There was also unusual call-option buying, suggesting some traders are positioning for a rebound.
• Neutral Sentiment: ServiceNow continued to generate attention around its AI control and governance strategy, including collaborations with NVIDIA and Microsoft, which may support the long-term platform story but do not yet change near-term fundamentals. ServiceNow And NVIDIA Project Arc Puts AI Agents At Center Stage
• Negative Sentiment: Bearish coverage focused on rising competition from agentic AI and argued that ServiceNow’s challenges predate the AI hype, adding to concerns that the stock may have more downside if growth expectations reset. ServiceNow Had Problems Long Before Agentic AI. Here’s Why.
• Negative Sentiment: Investors also appear worried about the broader “Saaspocalypse” narrative, with commentary highlighting the scale of the stock’s recent decline and questions about whether AI will truly offset pressure on legacy software models. Why CEO Bill McDermott says ServiceNow’s 39% stock crash is Saaspocalypse ‘nonsense’ and why AI will make it a trillion-dollar company

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.