Meridian Wealth Management LLC Increases Stake in ServiceNow, Inc. $NOW

Key Points

• Meridian Wealth Management LLC increased its ServiceNow stake by 287.4% in the fourth quarter, ending with 17,189 shares valued at about $2.63 million.
• Analysts remain broadly positive on ServiceNow, with a consensus “Moderate Buy” rating and an average price target of $144.71, even as some firms trimmed their targets.
• ServiceNow reported Q1 results that met EPS expectations and slightly beat revenue estimates, with revenue rising 22.1% year over year to $3.77 billion.

Meridian Wealth Management LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 287.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,189 shares of the information technology services provider's stock after purchasing an additional 12,752 shares during the quarter. Meridian Wealth Management LLC's holdings in ServiceNow were worth $2,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Magnus Financial Group LLC raised its position in ServiceNow by 1.9% during the 3rd quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider's stock worth $542,000 after buying an additional 11 shares during the last quarter. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 2.5% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider's stock worth $417,000 after buying an additional 11 shares during the last quarter. Meridian Wealth Advisors LLC raised its position in ServiceNow by 2.2% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after buying an additional 12 shares during the last quarter. Valley Brook Capital Group Inc. raised its position in ServiceNow by 2.1% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 634 shares of the information technology services provider's stock worth $583,000 after buying an additional 13 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its position in ServiceNow by 1.0% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock worth $1,169,000 after buying an additional 13 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOW. BMO Capital Markets reduced their price target on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Benchmark began coverage on shares of ServiceNow in a research report on Wednesday, April 1st. They set a "buy" rating and a $125.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $115.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. TD Cowen reissued a "buy" rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.71.

ServiceNow Stock Down 2.7%

Shares of NOW opened at $89.03 on Wednesday. The firm has a market cap of $91.79 billion, a P/E ratio of 53.06, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company's 50-day moving average price is $101.80 and its 200 day moving average price is $130.69. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. ServiceNow's revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

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

Insider Activity at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction dated 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 transaction, the insider directly owned 26,314 shares of the company's stock, valued at $2,781,652.94. The trade was a 5.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value 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. This represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,315 shares of company stock valued at $2,510,682 in the last quarter. Corporate insiders own 0.34% of the company's stock.

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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