Corient Private Wealth LLC Raises Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Corient Private Wealth LLC dramatically increased its ServiceNow stake by 418.6% in the fourth quarter, ending with 1,569,639 shares valued at about $234.6 million.
• Other institutions also boosted positions, including a new multibillion-dollar stake from Norges Bank, and the article notes that 87.18% of ServiceNow shares are owned by hedge funds and other institutional investors.
• Analysts remain largely constructive on ServiceNow, with a Moderate Buy consensus and an average price target of $142.17, though several firms recently trimmed their targets.

Corient Private Wealth LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 418.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,569,639 shares of the information technology services provider's stock after purchasing an additional 1,266,982 shares during the quarter. Corient Private Wealth LLC owned about 0.15% of ServiceNow worth $234,631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in ServiceNow during the 4th quarter valued at about $2,020,992,000. Cohen Klingenstein LLC increased its stake in ServiceNow by 400.0% during the fourth 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 during the period. World Investment Advisors increased its stake in ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock worth $7,218,000 after purchasing an additional 38,583 shares during the period. Moors & Cabot Inc. lifted its position in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of ServiceNow by 385.9% during the fourth 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. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Oppenheimer restated an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. DA Davidson reissued a "buy" rating and issued a $190.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. The Goldman Sachs Group dropped their price target on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.17.

ServiceNow Price Performance

ServiceNow stock opened at $95.51 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $99.60 and a 200-day simple moving average of $117.97. The stock has a market cap of $98.47 billion, a P/E ratio of 56.92, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month 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, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. ServiceNow's revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts expect 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 business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Paul Fipps sold 1,048 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem with new partnerships involving Wipro, Digimarc, and HPE, highlighting broader adoption of its platform for enterprise rollout, AI trust, and unified operations. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Cognizant said ServiceNow AI Agents now interoperate with its Neuro AI Multi-Agent Accelerator, which could strengthen ServiceNow’s position in cross-platform enterprise AI orchestration. Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Positive Sentiment: Aria Systems and ServiceNow launched what they called the world’s first agentic BSS for telecoms, suggesting another vertical use case that could expand ServiceNow’s enterprise footprint. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms
• Positive Sentiment: Analyst coverage remains upbeat: one roundup cited 90% of 50 analysts with Buy ratings and an average price target implying meaningful upside, reinforcing the stock’s long-term AI growth narrative. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Neutral Sentiment: Zacks highlighted ServiceNow’s AI Control Tower as a potential future growth engine, but the article was more of a thesis piece than a hard catalyst. Can AI Control Tower Become ServiceNow's Next Growth Engine?

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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