Harber Asset Management LLC Acquires New Position in ServiceNow, Inc. $NOW

Key Points

• Harber Asset Management LLC opened a new position in ServiceNow during the fourth quarter, buying 38,800 shares valued at about $5.94 million. The stake represents roughly 2.5% of the firm’s portfolio.
• ServiceNow continues to attract institutional interest, with hedge funds and other investors owning 87.18% of the stock. Several smaller funds also recently added or expanded positions in the company.
• The company’s business momentum remains tied to AI growth: ServiceNow raised its 2026 AI revenue target to $1.5 billion and recently announced an IBM partnership focused on legacy IT modernization and agentic AI adoption.

Harber Asset Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,800 shares of the information technology services provider's stock, valued at approximately $5,944,000. ServiceNow accounts for about 2.5% of Harber Asset Management LLC's investment portfolio, making the stock its 24th biggest position.

Other hedge funds have also recently modified their holdings of the company. IAG Wealth Partners LLC grew its holdings 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. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow in the third quarter valued at about $29,000. Texas Capital Bancshares Inc TX purchased a new stake in shares of ServiceNow in the third quarter valued at about $37,000. Ameriflex Group Inc. grew its holdings in shares of 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 period. Finally, Kelleher Financial Advisors purchased a new stake in shares of ServiceNow in the third quarter valued at about $50,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow lifted its 2026 AI revenue target to $1.5 billion, signaling that demand for Now Assist is strong and that customers are expanding AI deployments and spending more on the platform. Can Strong Demand in Now Assist Boost ServiceNow's AI Revenue Growth?
• Positive Sentiment: IBM and ServiceNow announced a partnership aimed at helping enterprises modernize legacy IT systems and scale agentic AI, which could support longer-term adoption of ServiceNow’s workflow automation and AI tools. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: Analysts and commentators highlighted ServiceNow as a potential AI winner in the second half of 2026, reinforcing the market’s view that the company could benefit from rising enterprise AI spending. The AI Trade Nobody Is Making Right Now -- and Why It Could Be 2026's Best Opportunity
• Neutral Sentiment: ServiceNow and IBM also drew attention for targeting legacy IT modernization, but the immediate impact on the stock is likely more strategic than near-term financial. ServiceNow, IBM team up to target legacy IT
• Negative Sentiment: The stock has also been under pressure from profit-taking and a broader selloff in software names, which has weighed on sentiment despite the company’s AI growth narrative. What's Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Reports of additional Bay Area tech job cuts added to concerns about the broader enterprise software and technology labor backdrop, though this is not specific to ServiceNow’s core results. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

ServiceNow Trading Down 0.7%

NYSE NOW opened at $102.34 on Friday. The firm has a 50 day simple moving average of $99.80 and a 200-day simple moving average of $120.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The firm has a market cap of $105.51 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.69 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

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 that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The shares were 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 of the company's stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOW. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an "underweight" rating in a report on Thursday, April 23rd. TD Cowen reaffirmed a "buy" rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Raymond James Financial lowered their target price on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Citigroup increased their target price on shares of ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, BNP Paribas Exane raised shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price for the company in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.85.

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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