Chicago Capital LLC Grows Position in ServiceNow, Inc. $NOW

Key Points

• Chicago Capital LLC boosted its stake in ServiceNow by 392.9% in Q4, acquiring an additional 311,314 shares to hold 390,549 shares worth about $59.83 million, making NOW its 22nd largest position (1.5% of the fund).
• Other major institutions—including Vanguard, State Street, Nordea and Sumitomo Mitsui Trust—also meaningfully increased holdings, and hedge funds/institutions now own about 87.18% of ServiceNow stock.
• Analyst consensus is a "Moderate Buy" with an average target of $173.46, but several brokerages have recently cut price targets and sentiment is mixed as the stock trades near $96.64 (1‑year range $81.24–$211.48).

Chicago Capital LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 392.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 390,549 shares of the information technology services provider's stock after acquiring an additional 311,314 shares during the period. ServiceNow makes up 1.5% of Chicago Capital LLC's investment portfolio, making the stock its 22nd largest position. Chicago Capital LLC's holdings in ServiceNow were worth $59,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 20,210,924 shares of the information technology services provider's stock valued at $18,599,709,000 after acquiring an additional 315,861 shares in the last quarter. State Street Corp increased its position in shares of ServiceNow by 1.4% during the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock valued at $8,700,970,000 after purchasing an additional 131,080 shares during the last quarter. Nordea Investment Management AB increased its position in shares of ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after purchasing an additional 3,743,087 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position 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 valued at $398,202,000 after purchasing an additional 2,064,440 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of ServiceNow by 5.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,287,300 shares of the information technology services provider's stock valued at $2,104,956,000 after purchasing an additional 118,060 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. Sanford C. Bernstein reiterated an "outperform" rating on shares of ServiceNow in a research report on Thursday, January 29th. UBS Group lowered ServiceNow from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $170.00 to $100.00 in a research report on Friday, April 10th. HSBC reduced their price objective on ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research report on Thursday. Benchmark assumed coverage on ServiceNow in a research report on Wednesday, April 1st. They set a "buy" rating and a $125.00 price objective on the stock. Finally, BTIG Research reduced their price target on ServiceNow from $200.00 to $185.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $173.46.

ServiceNow Price Performance

NOW opened at $96.64 on Friday. The stock's 50 day simple moving average is $105.72 and its 200 day simple moving average is $140.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The firm has a market cap of $100.13 billion, a price-to-earnings ratio of 57.94, a PEG ratio of 1.62 and a beta of 1.01.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The business's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Marketwide risk‑on tone and tech earnings lifted software names, providing an immediate catalyst for NOW’s intraday bounce. Stocks Settle Higher on Tech Earnings and Ceasefire Optimism
• Positive Sentiment: Jim Cramer highlighted NOW as able to move higher, citing buyback expansion and insider buying — a retail/TV boost that can attract momentum buyers. Jim Cramer on ServiceNow: "It can go higher"
• Positive Sentiment: Product partnership: ComplianceCow announced integration with ServiceNow’s Integrated Risk Management product, supporting cross‑sell and platform adoption in GRC/security workflows. ComplianceCow Announces Integration with ServiceNow Integrated Risk Management
• Neutral Sentiment: Investors are focused on upcoming Q1 results and operational metrics beyond revenue/EPS (seat trends, ARR composition); Q1 guidance will likely be the next major catalyst. Countdown to ServiceNow (NOW) Q1 Earnings
• Neutral Sentiment: Industry roundups and Q4 peer comparisons are mixed—useful context but not an immediate directional trigger. Automation Software Stocks Q4 In Review: ServiceNow Vs Peers
• Negative Sentiment: Multiple major brokerages trimmed price targets (HSBC, Deutsche Bank, Capital One, Robert W. Baird, BMO, TD Cowen)—this cluster of downgrades/target cuts is weighing on sentiment and raises questions about future upside. HSBC target cut to $171 Deutsche Bank target cut to $135 Capital One target cut to $113
• Negative Sentiment: Negative narratives in some outlets (so‑called “death of software” / “SaaSpocalypse” and AI seat‑contraction stories) are pressuring sentiment and could amplify downside if Q1 metrics disappoint. ServiceNow suffered from "Death of software" narrative ServiceNow Is The Main Victim Of The SaaSpocalypse

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the sale, the director directly owned 46,430 shares in the company, valued at approximately $4,697,323.10. This trade represents a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Fipps sold 3,696 shares of ServiceNow 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 sale, the insider owned 8,061 shares in the company, valued at approximately $820,367.97. This represents a 31.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 16,237 shares of company stock worth $1,697,162. 0.34% of the stock is currently owned by insiders.

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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