Convergence Financial LLC Has $1.81 Million Holdings in ServiceNow, Inc. $NOW

Key Points

• Convergence Financial LLC increased its ServiceNow stake by 388% in the fourth quarter, ending with 11,780 shares valued at about $1.81 million.
• Wall Street remains broadly positive on ServiceNow: analysts currently rate the stock Moderate Buy on average, with a consensus target price of $141.85, though several firms trimmed their price targets recently.
• ServiceNow’s latest earnings topped expectations, with 22.1% year-over-year revenue growth to $3.77 billion and EPS matching estimates, while bullish commentary continues to focus on AI adoption and a potential path to $30 billion in revenue by 2030.

Convergence Financial LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 388.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,780 shares of the information technology services provider's stock after buying an additional 9,366 shares during the quarter. Convergence Financial LLC's holdings in ServiceNow were worth $1,805,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. IAG Wealth Partners LLC boosted its stake in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after buying an additional 18 shares in the last quarter. Wealth Watch Advisors INC bought a new position in ServiceNow in the third quarter valued at about $29,000. Texas Capital Bancshares Inc TX bought a new position in ServiceNow in the third quarter valued at about $37,000. Ameriflex Group Inc. raised its position in ServiceNow by 187.5% in the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new position in ServiceNow in the third quarter valued at about $50,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Truist Financial dropped 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. Stifel Nicolaus dropped their target price on ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. TD Cowen reiterated a "buy" rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price for the company in a research report on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $141.85.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This represents a 7.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company's stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: William Blair reiterated a Buy rating on ServiceNow, citing accelerating AI adoption, a model-agnostic architecture, and a path to $30 billion in revenue by 2030, which supports the stock’s valuation. Article Title
• Positive Sentiment: Analysts and commentary around EmployeeWorks suggest it could become a major growth driver, with rapid traction, larger deals, and broader enterprise AI adoption helping reinforce the bullish long-term thesis for NOW. Article Title
• Positive Sentiment: ServiceNow also announced a $2.5 million grant to City Year to support student success and workforce pathways, while expanding AI-enabled operational innovation—another signal that the company is using its platform to deepen enterprise and social impact. Article Title
• Neutral Sentiment: ServiceNow’s recent conference presentations and valuation-focused coverage kept the company in the spotlight, but these items were mostly reinforcing existing themes rather than introducing major new fundamentals.
• Negative Sentiment: Recent valuation discussion notes that NOW remains well below its highs and still faces questions after a mixed year of share-price performance, which may remind investors that the stock’s strong rally has already priced in a lot of optimism. Article Title

ServiceNow Trading Up 1.4%

NYSE NOW opened at $119.53 on Friday. The business has a 50 day simple moving average of $99.29 and a 200 day simple moving average of $122.10. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The stock has a market capitalization of $123.24 billion, a P/E ratio of 71.24, a P/E/G ratio of 1.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last released 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The firm's revenue was up 22.1% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

ServiceNow 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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