M&T Bank Corp Decreases Position in ServiceNow, Inc. $NOW

Key Points

• M&T Bank Corp cut its stake in ServiceNow by 51% in Q4, selling 19,577 shares and retaining 18,798 shares worth about $2.88 million.
• ServiceNow reported a strong quarter (revenue $3.77B, +22.1% y/y; $0.97 EPS meeting estimates) but shares plunged after earnings amid rotation and AI concerns, with analysts many calling the sell-off potentially overdone given an upgraded outlook and AI monetization tailwinds.
• Several firms trimmed price targets, yet the consensus rating is a Moderate Buy with an average target of $146.65; institutional ownership is high at 87.18% while insiders have been net sellers recently.

M&T Bank Corp cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,798 shares of the information technology services provider's stock after selling 19,577 shares during the period. M&T Bank Corp's holdings in ServiceNow were worth $2,880,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. IAG Wealth Partners LLC raised its holdings 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 worth $25,000 after buying an additional 18 shares during the last quarter. Bogart Wealth LLC raised its holdings in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider's stock worth $29,000 after buying an additional 15 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in shares of ServiceNow during the third quarter valued at approximately $29,000. Albion Financial Group UT raised its holdings in shares of ServiceNow by 78.9% during the third quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 15 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of ServiceNow by 52.0% during the third quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider's stock valued at $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.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: European customers are consolidating core functions on the ServiceNow platform and integrating it with systems to support AI deployments—this supports long-term revenue and AI monetization potential. European ServiceNow Strategies Focus on AI, Sovereignty
• Positive Sentiment: Analysts argue the post-earnings sell-off looks overdone given a solid print and upgraded outlook, framing the weakness as a potential buying opportunity for longer-term investors. Solid Quarter, Harsh Reaction. ServiceNow (NOW) Still Looks Like a Buy
• Positive Sentiment: Coverage highlights 22% subscription growth and a lifted 2026 outlook driven by AI monetization and pricing changes that are producing larger deals and renewals—supporting upside to revenue and margins over time. NOW's AI-Driven Subscription Growth Accelerates: More Upside Ahead?
• Positive Sentiment: Some outlets view the post-earnings selloff as a contrarian setup and note a rating upgrade, suggesting value for patient investors if execution on AI pricing and upsells continues. ServiceNow: The Selloff Looks Ugly Enough To Be Interesting (Rating Upgrade)
• Neutral Sentiment: Coverage weighing whether the current dip is a buy—notes near-term risks but also an expanding enterprise footprint and AI tailwinds; outcome depends on execution and market rotation. ServiceNow Stock Trading Near Its 52-Week Low—Should You Buy the Dip?
• Neutral Sentiment: Commentary (including Jim Cramer mentions) highlights hidden factors and sector rotation pressure on enterprise software names, which helps explain volatile price action even with solid fundamentals. Jim Cramer Discusses Hidden Factor For ServiceNow (NOW) Stock
• Neutral Sentiment: Regional/market write-ups (PSE coverage) note volatility and large multi-period declines in local listings; useful for sentiment context but less relevant to NOW's U.S. fundamentals. Is NOW PSE: NOW Pricing In Too Much After Recent Share Price Volatility?
• Negative Sentiment: Several outlets flag that shares plunged despite the solid quarter and guidance bump, reflecting investor disappointment or rotation away from late-cycle software names—selling pressure can persist until sentiment stabilizes. Is ServiceNow Stock a Buy After Shares Sink?
• Negative Sentiment: Macro/peer comparisons label ServiceNow among the worst-performing large software stocks YTD, which can amplify outflows and headline-driven selling until earnings momentum is re-priced. Which Software Stock Has Been the Worst Performer in 2026: Adobe, Salesforce, or ServiceNow?

ServiceNow Stock Up 0.4%

Shares of NOW stock opened at $90.50 on Tuesday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a market cap of $93.77 billion, a P/E ratio of 53.93, a P/E/G ratio of 1.53 and a beta of 1.01. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $104.51 and a two-hundred day simple moving average of $136.53.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts' consensus estimates 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 analysts' expectations of $3.75 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The firm's revenue was up 22.1% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 2.47 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NOW shares. Truist Financial decreased their price objective on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Raymond James Financial decreased their price objective on shares of ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Citigroup decreased their price objective on shares of ServiceNow from $177.00 to $154.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Finally, Wolfe Research set a $125.00 price objective on shares of ServiceNow in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.65.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 26,314 shares of the company's stock, valued at approximately $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider directly owned 8,061 shares of the company's stock, valued at approximately $820,367.97. This represents a 31.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,237 shares of company stock valued at $1,697,162. 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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