First Horizon Corp Acquires 64,113 Shares of ServiceNow, Inc. $NOW

Key Points

• First Horizon Corp purchased an additional 64,113 shares of ServiceNow, boosting its stake by 22,735.1% to 64,395 shares worth about $9.865 million at the end of the quarter.
• Several brokerages recently trimmed price targets and ratings, yet ServiceNow still carries a MarketBeat consensus rating of "Moderate Buy" with a consensus price target of $173.46, versus the stock trading around $96.64.
• ServiceNow posted a solid Q4 with revenue of $3.57 billion (up 20.7% YoY) and EPS of $0.92 beating estimates, but insiders have sold 16,237 shares over the last 90 days, signaling mixed signals to investors.

First Horizon Corp grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 22,735.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,395 shares of the information technology services provider's stock after purchasing an additional 64,113 shares during the period. First Horizon Corp's holdings in ServiceNow were worth $9,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC raised its position in shares of 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 purchasing an additional 18 shares during the period. Noble Wealth Management PBC lifted its holdings in ServiceNow by 400.0% during the 4th 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 in the last quarter. Lodestone Wealth Management LLC purchased a new stake in ServiceNow during the 4th quarter worth about $26,000. Albion Financial Group UT lifted its holdings in ServiceNow by 400.0% during the 4th 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 in the last quarter. Finally, Avion Wealth lifted its holdings in ServiceNow by 256.0% during the 4th quarter. Avion Wealth now owns 178 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BTIG Research dropped their price objective on ServiceNow from $200.00 to $185.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets dropped their price objective on ServiceNow from $170.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Sanford C. Bernstein reissued an "outperform" rating on shares of ServiceNow in a report on Thursday, January 29th. Royal Bank Of Canada dropped their price objective on ServiceNow from $150.00 to $121.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Finally, UBS Group cut ServiceNow from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $170.00 to $100.00 in a report on Friday, April 10th. Three research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.46.

ServiceNow Stock Up 0.2%

Shares of NYSE NOW opened at $96.64 on Friday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $100.13 billion, a price-to-earnings ratio of 57.94, a PEG ratio of 1.62 and a beta of 1.01. The business has a 50-day moving average of $105.72 and a 200-day moving average of $140.53.

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

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction 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 transaction, the director owned 46,430 shares of the company's stock, valued at $4,697,323.10. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 9,641 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the transaction, the insider directly owned 11,757 shares in the company, valued at approximately $1,245,419.01. This represents a 45.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,237 shares of company stock valued at $1,697,162. 0.34% of the stock is owned by corporate insiders.

Key ServiceNow News

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

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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