F m Investments LLC Boosts Stake in ServiceNow, Inc. $NOW

Key Points

• F m Investments LLC significantly boosted its ServiceNow stake by 384.5% in the fourth quarter, ending with 147,712 shares valued at about $22.6 million.
• ServiceNow is drawing attention for its AI strategy, including a partnership with Accenture and management’s projection of more than $30 billion in subscription revenue by 2030.
• Despite recent weakness, the stock remains broadly supported by Wall Street, with a Moderate Buy consensus and a target price of about $144.71, though some analysts have cut targets amid concerns about competition and valuation.

F m Investments LLC grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 384.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,712 shares of the information technology services provider's stock after buying an additional 117,226 shares during the period. ServiceNow accounts for 0.9% of F m Investments LLC's holdings, making the stock its 17th biggest position. F m Investments LLC's holdings in ServiceNow were worth $22,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC raised its holdings in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC raised its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC raised its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of ServiceNow during the fourth quarter worth $26,000. Finally, Albion Financial Group UT raised its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key ServiceNow News

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 Stock Down 2.6%

Shares of NYSE NOW opened at $91.14 on Friday. The company's 50-day simple moving average is $102.80 and its 200-day simple moving average is $132.71. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The firm has a market cap of $93.96 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 1.66 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for 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 company's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Barclays reissued an "overweight" rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday. Argus reduced their target price on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating for the company in a report on Friday, April 24th. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the stock an "underweight" rating in a report on Thursday, April 23rd. Finally, Capital One Financial raised their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $144.71.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the transaction, the director directly owned 46,430 shares of the company's stock, valued at approximately $4,697,323.10. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 25,164 shares of company stock valued at $2,497,021. Corporate insiders own 0.34% of the company's stock.

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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