MYDA Advisors LLC Purchases Shares of 11,000 ServiceNow, Inc. $NOW

Key Points

• MYDA Advisors LLC opened a new position in ServiceNow during the fourth quarter, buying 11,000 shares worth about $1.685 million.
• Institutional ownership remains heavy, with 87.18% of ServiceNow shares held by institutions and hedge funds, while several other funds also recently increased their stakes.
• Wall Street remains broadly positive on ServiceNow despite recent target cuts: the stock carries a Moderate Buy consensus rating and a consensus price target of $141.85.

MYDA Advisors LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,000 shares of the information technology services provider's stock, valued at approximately $1,685,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Meridian Wealth Advisors LLC lifted its stake 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 valued at $508,000 after buying an additional 12 shares during the period. Catalyst Financial Partners LLC lifted its stake in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock valued at $1,169,000 after buying an additional 13 shares during the period. JT Stratford LLC lifted its stake in ServiceNow by 3.5% in the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock valued at $354,000 after buying an additional 13 shares during the period. Abbot Financial Management Inc. lifted its stake in ServiceNow by 2.9% in the third quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock valued at $462,000 after buying an additional 14 shares during the period. Finally, Cozad Asset Management Inc. lifted its stake in ServiceNow by 6.7% in the third quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider's stock valued at $205,000 after buying an additional 14 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Argus dropped their price target on ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Canaccord Genuity Group decreased their price objective on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Morgan Stanley decreased their price objective on ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. UBS Group restated an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $141.85.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow lifted its 2026 AI revenue target to $1.5 billion, signaling that demand for Now Assist is strong and that customers are expanding AI deployments and spending more on the platform. Can Strong Demand in Now Assist Boost ServiceNow's AI Revenue Growth?
• Positive Sentiment: IBM and ServiceNow announced a partnership aimed at helping enterprises modernize legacy IT systems and scale agentic AI, which could support longer-term adoption of ServiceNow’s workflow automation and AI tools. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: Analysts and commentators highlighted ServiceNow as a potential AI winner in the second half of 2026, reinforcing the market’s view that the company could benefit from rising enterprise AI spending. The AI Trade Nobody Is Making Right Now -- and Why It Could Be 2026's Best Opportunity
• Neutral Sentiment: ServiceNow and IBM also drew attention for targeting legacy IT modernization, but the immediate impact on the stock is likely more strategic than near-term financial. ServiceNow, IBM team up to target legacy IT
• Negative Sentiment: The stock has also been under pressure from profit-taking and a broader selloff in software names, which has weighed on sentiment despite the company’s AI growth narrative. What's Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Reports of additional Bay Area tech job cuts added to concerns about the broader enterprise software and technology labor backdrop, though this is not specific to ServiceNow’s core results. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

Insider Buying and Selling

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by corporate insiders.

ServiceNow Trading Up 0.2%

NYSE NOW opened at $102.34 on Monday. The business has a 50 day moving average price of $99.80 and a 200-day moving average price of $119.74. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a market cap of $105.51 billion, a price-to-earnings ratio of 60.99, a P/E/G ratio of 1.69 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly 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. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal 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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