Kornitzer Capital Management Inc. KS Grows Stake in ServiceNow, Inc. $NOW

Key Points

• Kornitzer Capital Management grew its position in ServiceNow by 396.6% in Q4, adding 17,135 shares to hold 21,455 shares valued at about $3.29 million.
• ServiceNow reported Q1 subscription revenue up ~22% YoY and met EPS expectations, and analysts maintain a consensus "Moderate Buy" with a mean target near $146.75, though several firms have recently cut price targets.
• Company insiders have sold roughly 25,164 shares (≈$2.5M) over the past 90 days, while the stock has been volatile—falling ~13–18% amid AI/"SaaSpocalypse" concerns and trading around $91 (1‑year range $81–$211).

Kornitzer Capital Management Inc. KS grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 396.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,455 shares of the information technology services provider's stock after purchasing an additional 17,135 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in ServiceNow were worth $3,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Magnus Financial Group LLC grew its holdings in ServiceNow by 1.9% in the third quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider's stock worth $542,000 after purchasing an additional 11 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in ServiceNow by 2.5% in the third quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider's stock worth $417,000 after purchasing an additional 11 shares during the last quarter. Yoder Wealth Management Inc. grew its holdings in ServiceNow by 4.6% in the third quarter. Yoder Wealth Management Inc. now owns 272 shares of the information technology services provider's stock worth $250,000 after purchasing an additional 12 shares during the last quarter. Meridian Wealth Advisors LLC grew its holdings in ServiceNow by 2.2% in the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after purchasing an additional 12 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in ServiceNow by 52.0% in the third quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 13 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 results and guidance support the growth story: ServiceNow reported strong subscription revenue growth (~22% YoY) and provided forward metrics that underpin its AI and workflow transition — a clear fundamental reason some investors remain bullish. ServiceNow (NOW) Announces Financial Results for Q1 2026
• Positive Sentiment: Analyst backing and higher targets: Major brokers continue to rate NOW as a Buy (high proportion of analysts bullish); Evercore ISI maintained a buy and Citi raised its price target to $158, supporting upside narratives versus current pricing. Evercore ISI Maintains Buy Rating on ServiceNow Inc. (NOW) Citigroup Raises Price Target
• Positive Sentiment: Partnerships and partner ecosystem expansion: New collaborations (Simplify Alpha for health plans, Brightfin and partner activity highlighted at Knowledge 2026) and third‑party recognition (Atos/partner rankings) strengthen ServiceNow’s go‑to‑market for AI-native workflow products. These help support long‑term revenue expansion opportunities. ServiceNow And Simplify Alpha Target Health Plan Costs With AI Workflows
• Neutral Sentiment: Insider sale disclosed: An insider sold about $799,859 of stock — a data point to monitor, though single insider transactions aren’t decisive without context on timing and reason. ServiceNow NYSE: NOW Insider Sells $799,859.20 in Stock
• Negative Sentiment: Near‑term execution concerns and sell‑side/media narrative: Coverage highlights delayed Middle East deals and intensifying SaaS competition as reasons for a month‑long ~13% slide, which has amplified investor anxiety and pressured the stock despite healthy fundamentals. ServiceNow Drops 13.4% in a Month: Buy, Sell or Hold the Stock?
• Negative Sentiment: Sentiment headwinds from “SaaSpocalypse” debate: Media and some traders have punished the stock after the earnings reaction; commentators and analysts are publicly pushing back, but short‑term sentiment risk remains elevated. Analysts Push Back on SaaSpocalypse: Is ServiceNow a Screaming Buy?

Analysts Set New Price Targets

Several research firms have issued reports on NOW. Benchmark began coverage on shares of ServiceNow in a report on Wednesday, April 1st. They issued a "buy" rating and a $125.00 price target on the stock. Weiss Ratings lowered shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, April 21st. Mizuho dropped their price objective on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Argus dropped their price objective on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, April 24th. Finally, Evercore dropped their price objective on shares of ServiceNow from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.75.

Insider Buying and Selling at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of the business's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the transaction, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 25,164 shares of company stock valued at $2,497,021. Company insiders own 0.34% of the company's stock.

ServiceNow Trading Up 3.3%

NYSE NOW opened at $91.23 on Friday. The company has a market capitalization of $94.06 billion, a PE ratio of 54.37, a P/E/G ratio of 1.61 and a beta of 0.82. The company has a fifty day moving average of $103.45 and a 200 day moving average of $134.92. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

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

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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