Castleark Management LLC Has $41.43 Million Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Castleark Management LLC boosted its ServiceNow position by 410.4% in the fourth quarter, ending with 270,420 shares worth about $41.4 million.
• Wall Street remains broadly positive on ServiceNow, with a Moderate Buy consensus and an average price target of $141.85, even though several analysts trimmed their targets.
• ServiceNow’s latest results showed revenue of $3.77 billion and EPS of $0.97, both in line with or slightly above expectations, while the company continues to highlight AI growth opportunities and a new IBM partnership.

Castleark Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 410.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 270,420 shares of the information technology services provider's stock after purchasing an additional 217,442 shares during the period. ServiceNow makes up 1.2% of Castleark Management LLC's investment portfolio, making the stock its 18th biggest holding. Castleark Management LLC's holdings in ServiceNow were worth $41,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NOW. Meridian Wealth Advisors LLC boosted its holdings in ServiceNow by 2.2% in the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after acquiring an additional 12 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock worth $1,169,000 after purchasing an additional 13 shares in the last quarter. JT Stratford LLC increased its holdings in ServiceNow by 3.5% during the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock worth $354,000 after purchasing an additional 13 shares in the last quarter. Abbot Financial Management Inc. increased its holdings in ServiceNow by 2.9% during the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock worth $462,000 after purchasing an additional 14 shares in the last quarter. Finally, Cozad Asset Management Inc. increased its holdings in ServiceNow by 6.7% during the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider's stock worth $205,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on NOW shares. Raymond James Financial decreased their price objective on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company decreased their price objective on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. KeyCorp set a $85.00 target price on ServiceNow and gave the company an "underweight" rating in a report on Thursday, April 23rd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group reduced their target price on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $141.85.

ServiceNow Trading Down 0.7%

Shares of NOW stock opened at $102.34 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a market capitalization of $105.51 billion, a PE ratio of 60.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The business's fifty day moving average is $99.80 and its 200 day moving average is $120.05.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm's revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares of the company's stock, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow lifted its 2026 AI revenue target to $1.5 billion, signaling that demand for Now Assist is strong and that customers are expanding AI deployments and spending more on the platform. Can Strong Demand in Now Assist Boost ServiceNow's AI Revenue Growth?
• Positive Sentiment: IBM and ServiceNow announced a partnership aimed at helping enterprises modernize legacy IT systems and scale agentic AI, which could support longer-term adoption of ServiceNow’s workflow automation and AI tools. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: Analysts and commentators highlighted ServiceNow as a potential AI winner in the second half of 2026, reinforcing the market’s view that the company could benefit from rising enterprise AI spending. The AI Trade Nobody Is Making Right Now -- and Why It Could Be 2026's Best Opportunity
• Neutral Sentiment: ServiceNow and IBM also drew attention for targeting legacy IT modernization, but the immediate impact on the stock is likely more strategic than near-term financial. ServiceNow, IBM team up to target legacy IT
• Negative Sentiment: The stock has also been under pressure from profit-taking and a broader selloff in software names, which has weighed on sentiment despite the company’s AI growth narrative. What's Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Reports of additional Bay Area tech job cuts added to concerns about the broader enterprise software and technology labor backdrop, though this is not specific to ServiceNow’s core results. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

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.

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