Firetrail Investments PTY Ltd. Purchases 30,161 Shares of ServiceNow, Inc. $NOW

Key Points

• Firetrail Investments PTY Ltd. boosted its ServiceNow stake by 267.1% in the fourth quarter, buying 30,161 additional shares and bringing its total holding to 41,455 shares worth about $6.38 million.
• Institutional interest in ServiceNow remains strong, with several hedge funds sharply increasing positions and 87.18% of the stock now owned by institutional investors.
• ServiceNow continues to draw mixed market attention: analysts mostly maintain Buy/Overweight views despite recent price-target cuts, while the company also reported Q4 revenue growth of 22.1% year over year and met EPS expectations.

Firetrail Investments PTY Ltd. increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 267.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,455 shares of the information technology services provider's stock after purchasing an additional 30,161 shares during the quarter. ServiceNow makes up about 2.1% of Firetrail Investments PTY Ltd.'s investment portfolio, making the stock its 24th largest holding. Firetrail Investments PTY Ltd.'s holdings in ServiceNow were worth $6,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cohen Klingenstein LLC lifted its position in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after acquiring an additional 8,000 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in ServiceNow by 385.9% in 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 during the period. Torray Investment Partners LLC increased its stake in shares of ServiceNow by 390.5% during the fourth quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock valued at $6,224,000 after purchasing an additional 32,345 shares in the last quarter. Jennison Associates LLC increased its stake in shares of ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. Finally, Narwhal Capital Management lifted its holdings in shares of ServiceNow by 763.5% during the fourth quarter. Narwhal Capital Management now owns 16,977 shares of the information technology services provider's stock valued at $2,601,000 after purchasing an additional 15,011 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about ServiceNow

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

Analyst Ratings Changes

NOW has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Barclays reiterated an "overweight" rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday. DA Davidson reissued a "buy" rating and issued a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, Weiss Ratings lowered ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.71.

Insider Activity at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares of the company's stock, valued at $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider owned 8,061 shares of the company's stock, valued at approximately $820,367.97. This trade represents a 31.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,164 shares of company stock valued at $2,497,021 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $91.14 on Friday. The firm's 50-day moving average price is $102.80 and its 200-day moving average price is $132.71. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The company has a market cap of $93.96 billion, a PE ratio of 54.31, a PEG ratio of 1.61 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 released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The firm's quarterly revenue was up 22.1% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

ServiceNow Company 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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