Midwest Trust Co Boosts Holdings in ServiceNow, Inc. $NOW

Key Points

• Midwest Trust Co increased its ServiceNow stake by 412.5% in the fourth quarter, ending with 112,666 shares valued at about $17.3 million.
• Other large institutions also added aggressively, with Vanguard, Jennison Associates, Nordea, and Pictet all reporting major increases in their ServiceNow holdings. Overall, 87.18% of ServiceNow’s stock is owned by hedge funds and other institutional investors.
• ServiceNow’s latest earnings met expectations, with $0.97 EPS and revenue of $3.77 billion, while analysts remain generally positive despite recent price target cuts, giving the stock a Moderate Buy consensus and an average target of $144.71.

Midwest Trust Co boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 412.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,666 shares of the information technology services provider's stock after purchasing an additional 90,681 shares during the quarter. Midwest Trust Co's holdings in ServiceNow were worth $17,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. State Street Corp raised its position in shares of ServiceNow by 1.4% during the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock valued at $8,700,970,000 after buying an additional 131,080 shares in the last quarter. Jennison Associates LLC raised its position in shares of ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after buying an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB raised its position in shares of ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after buying an additional 3,743,087 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of ServiceNow by 613.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after buying an additional 3,301,962 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW stock opened at $91.14 on Friday. 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 52 week low of $81.24 and a 52 week high of $211.48. The firm's fifty day moving average is $102.80 and its 200 day moving average is $132.71. The firm has a market cap of $93.96 billion, a P/E ratio of 54.31, a P/E/G ratio of 1.61 and a beta of 0.82.

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, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a partnership with Accenture to deliver agentic AI at enterprise scale, reinforcing its role as a core platform for enterprise AI workflows and potentially expanding adoption. ServiceNow, Accenture partner to deliver agentic AI at enterprise scale
• Positive Sentiment: Management is pushing a long-term growth narrative, saying AI can accelerate ServiceNow’s business and projecting more than $30 billion in subscription revenue by 2030, which helped lift sentiment around the stock. ServiceNow Targets $30 Billion As AI Revenue Story Accelerates
• Positive Sentiment: Several analyst notes were supportive, including higher price targets and reiterated Buy/Outperform ratings, signaling that Wall Street still sees upside despite the selloff. Capital One Financial Increases ServiceNow NYSE: NOW Price Target to $120.00
• Positive Sentiment: There was also unusual call-option buying, suggesting some traders are positioning for a rebound.
• Neutral Sentiment: ServiceNow continued to generate attention around its AI control and governance strategy, including collaborations with NVIDIA and Microsoft, which may support the long-term platform story but do not yet change near-term fundamentals. ServiceNow And NVIDIA Project Arc Puts AI Agents At Center Stage
• Negative Sentiment: Bearish coverage focused on rising competition from agentic AI and argued that ServiceNow’s challenges predate the AI hype, adding to concerns that the stock may have more downside if growth expectations reset. ServiceNow Had Problems Long Before Agentic AI. Here's Why.
• Negative Sentiment: Investors also appear worried about the broader “Saaspocalypse” narrative, with commentary highlighting the scale of the stock’s recent decline and questions about whether AI will truly offset pressure on legacy software models. Why CEO Bill McDermott says ServiceNow’s 39% stock crash is Saaspocalypse ‘nonsense’ and why AI will make it a trillion-dollar company

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings cut shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. BMO Capital Markets lowered their price objective on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Evercore raised their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group lowered their price objective on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $144.71.

Insider Buying and Selling at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of the 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 transaction, the insider owned 26,314 shares of the company's stock, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,164 shares of company stock worth $2,497,021 in the last quarter. 0.34% of the stock is currently owned by company insiders.

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.

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