Hartford Investment Management Co. Boosts Stake in ServiceNow, Inc. $NOW

Key Points

• Hartford Investment Management Co. boosted its ServiceNow stake by 393.8% in the fourth quarter, ending with 60,170 shares valued at about $9.2 million.
• Institutional ownership remains very heavy, with hedge funds and other institutions holding 87.18% of ServiceNow’s shares.
• ServiceNow has a mix of positives and negatives in recent news: analysts are largely constructive on its AI growth story and partnerships are expanding, but the company also plans to raise $4 billion through a bond sale, which may concern some investors.

Hartford Investment Management Co. raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 393.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,170 shares of the information technology services provider's stock after purchasing an additional 47,984 shares during the quarter. Hartford Investment Management Co.'s holdings in ServiceNow were worth $9,217,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC raised its position in 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. Bogart Wealth LLC raised its position in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 15 shares during the period. Wealth Watch Advisors INC purchased a new stake in ServiceNow in the third quarter valued at $29,000. Texas Capital Bancshares Inc TX purchased a new stake in ServiceNow in the third quarter valued at $37,000. Finally, Ameriflex Group Inc. raised its position in 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. 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: Boomi and ServiceNow launched a partnership around the Workflow Data Network Passport Program, which could strengthen ServiceNow’s AI and data-integration growth narrative. Boomi and ServiceNow Partner to Power Data Activation Across the Enterprise
• Positive Sentiment: Analysts remain constructive on ServiceNow, with Evercore ISI raising its price target to $150 and BMO reiterating an Outperform rating, citing strength in AI-related growth and the platform’s defensive qualities. ServiceNow (NOW) Price Target Raised as AI Growth Story Gains Strength
• Positive Sentiment: FedEx is expanding its partnership with ServiceNow, another sign that large enterprise customers are deepening usage of the platform. FedEx expands ServiceNow partnership
• Neutral Sentiment: ServiceNow also used its Knowledge 2026 conference to highlight new AI control, security, and identity offerings, underscoring product momentum but without a clear near-term financial impact. ServiceNow Seeks AI Control Role As Stock Struggles And Partnerships Grow
• Neutral Sentiment: An insider sale by Paul Fipps was disclosed, but the transaction was small and executed under a pre-arranged 10b5-1 trading plan, so it is less likely to be viewed as a major signal. SEC insider filing for Paul Fipps
• Negative Sentiment: ServiceNow plans to raise $4 billion through a bond sale, which could raise financing concerns for some investors even though the company has strong business momentum. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale

Analyst Ratings Changes

A number of research firms have commented on NOW. Citizens Jmp restated a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Barclays reaffirmed an "overweight" rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. FBN Securities dropped their price objective on ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. DA Davidson reaffirmed a "buy" rating and issued a $190.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $144.71.

Insider Buying and Selling

In related news, insider Paul Fipps sold 9,641 shares of the business's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the transaction, the insider directly owned 11,757 shares of the company's stock, valued at $1,245,419.01. The trade was a 45.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 25,315 shares of company stock valued at $2,510,682. Company insiders own 0.34% of the company's stock.

ServiceNow Trading Down 2.7%

NOW opened at $89.03 on Wednesday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a market capitalization of $91.79 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 1.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average price of $101.80 and a 200 day moving average price of $130.69.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.81 EPS. ServiceNow's revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.