Ballentine Partners LLC Buys 13,597 Shares of ServiceNow, Inc. $NOW

Key Points

• Ballentine Partners LLC boosted its ServiceNow stake by 387.5% in the fourth quarter, buying 13,597 additional shares and bringing its total holding to 17,106 shares worth about $2.62 million.
• ServiceNow continues to attract institutional interest, with several other hedge funds also increasing or initiating positions; overall, institutional investors own 87.18% of the company.
• The stock is under pressure, trading down 2.6%, even as analysts and company news remain broadly supportive thanks to AI partnerships, long-term revenue targets, and multiple Buy/Outperform ratings.

Ballentine Partners LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 387.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,106 shares of the information technology services provider's stock after buying an additional 13,597 shares during the quarter. Ballentine Partners LLC's holdings in ServiceNow were worth $2,620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Orion Capital Management LLC bought a new stake in shares of ServiceNow during the fourth quarter worth $276,000. Wesbanco Bank Inc. grew its stake in shares of ServiceNow by 371.9% during the fourth quarter. Wesbanco Bank Inc. now owns 2,690 shares of the information technology services provider's stock worth $412,000 after buying an additional 2,120 shares during the last quarter. Chesapeake Wealth Management grew its stake in shares of ServiceNow by 400.0% during the fourth quarter. Chesapeake Wealth Management now owns 1,370 shares of the information technology services provider's stock worth $210,000 after buying an additional 1,096 shares during the last quarter. Strengthening Families & Communities LLC grew its stake in shares of ServiceNow by 460.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 280 shares of the information technology services provider's stock worth $43,000 after buying an additional 230 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its stake in shares of ServiceNow by 11.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 5,235 shares of the information technology services provider's stock worth $811,000 after buying an additional 522 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

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

ServiceNow Trading Down 2.6%

NYSE:NOW opened at $91.14 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a 50-day moving average of $102.80 and a 200-day moving average of $132.71. The company has a market cap of $93.96 billion, a PE ratio of 54.31, a PEG ratio of 1.61 and a beta of 0.82. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

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

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the transaction, the insider owned 26,314 shares of the company's stock, valued at $2,781,652.94. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 3,696 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the transaction, the insider owned 8,061 shares in the company, valued at $820,367.97. The trade was a 31.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 25,164 shares of company stock valued at $2,497,021. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. The Goldman Sachs Group decreased their target price on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Raymond James Financial cut their price target on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Weiss Ratings lowered shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $135.00 price target (down from $175.00) on shares of ServiceNow 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 issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $144.71.

ServiceNow Company 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.

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