M&T Bank Corp Purchases 146,533 Shares of ServiceNow, Inc. $NOW

Key Points

• M&T Bank Corp boosted its ServiceNow stake by 381.8% in Q4, purchasing 146,533 shares to hold 184,908 shares worth about $28.33 million, and institutional investors now own roughly 87.18% of the company.
• ServiceNow is pushing an AI-driven growth plan—management aims to double subscription revenue to about $30B by 2030 and Now Assist has surpassed ~$750M in ACV—while analysts are mixed (price-target cuts but a consensus "Moderate Buy" with an average target of $145.87) as the stock trades near $91.92.

M&T Bank Corp lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 381.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184,908 shares of the information technology services provider's stock after purchasing an additional 146,533 shares during the period. M&T Bank Corp's holdings in ServiceNow were worth $28,326,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cohen Klingenstein LLC raised its stake in ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after buying an additional 8,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after buying an additional 2,064,440 shares during the last quarter. Torray Investment Partners LLC raised its stake in ServiceNow by 390.5% in the fourth quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock valued at $6,224,000 after buying an additional 32,345 shares during the last quarter. Natural Investments LLC raised its stake in ServiceNow by 332.0% in the fourth quarter. Natural Investments LLC now owns 16,453 shares of the information technology services provider's stock valued at $2,520,000 after buying an additional 12,644 shares during the last quarter. Finally, Focus Financial Network Inc. raised its stake in ServiceNow by 286.1% in the fourth quarter. Focus Financial Network Inc. now owns 53,650 shares of the information technology services provider's stock valued at $8,219,000 after buying an additional 39,756 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow laid out a plan to double subscription revenue to ~$30B by 2030 and said its Now Assist product has passed ~$750M in annual contract value — a clear signal management expects AI-driven subscription growth. ServiceNow lays out path to $30 billion in annual subscription revenue as AI bets accelerate
• Positive Sentiment: Investors are positioning ahead of Analyst Day and cheered a multi‑year DXC agreement that frames DXC as an early adopter for ServiceNow’s agentic AI capabilities — supports expectations for enterprise AI deployments. ServiceNow shares rise as investors focus on Analyst Day and fresh enterprise AI partnership momentum
• Positive Sentiment: BTIG reaffirmed a Buy rating with a $150 target and high‑profile supporters (e.g., positive comments from Jim Cramer) are helping sentiment around management’s ability to “put on a show” at Analyst Day. Jim Cramer on ServiceNow: “I Am Sure That Bill McDermott Will Put on a Good Show”
• Neutral Sentiment: Analyst/press previews say Investor Day will focus on AI product innovation and pricing (BNP) and the company continues embedding AI across the platform (Context Engine) — these are execution items investors want to see validated during presentations. ServiceNow's investor day likely to focus on AI product innovation, pricing: BNP ServiceNow embeds AI across all products with Context Engine
• Negative Sentiment: Wolfe Research cut its price objective from $175 to $125 (but kept an Outperform rating), reflecting concerns about delayed on‑prem deals and more conservative near‑term guidance — this reduces upside expectations for some investors. Wolfe Research Lowers PT on ServiceNow (NOW) stock
• Negative Sentiment: Residual selling pressure from April — driven by sectorwide “AI displacement” fears and margin compression despite meeting Q1 numbers — still clouds sentiment and explains why some investors remain cautious. Why ServiceNow Stock Fell 16% in April

ServiceNow Trading Up 0.8%

Shares of NYSE:NOW opened at $91.92 on Tuesday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The stock has a market cap of $94.77 billion, a price-to-earnings ratio of 54.78, a PEG ratio of 1.61 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $103.45 and a 200-day moving average price of $134.58.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (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 last year, the business posted $0.81 earnings per share. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on NOW. Needham & Company LLC decreased their price target on ServiceNow from $155.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Evercore decreased their price target on ServiceNow from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. TD Cowen reiterated a "buy" rating and issued a $140.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. JPMorgan Chase & Co. decreased their price target on ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group decreased their price target on ServiceNow from $188.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $145.87.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 9,641 shares of ServiceNow stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the transaction, the insider owned 11,757 shares of the company's stock, valued at approximately $1,245,419.01. This represents a 45.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 25,164 shares of company stock valued at $2,497,021. 0.34% of the stock is owned by company insiders.

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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