ServiceNow, Inc. $NOW Position Boosted by Securian Asset Management Inc.

Key Points

• Securian Asset Management sharply increased its ServiceNow stake in the fourth quarter, boosting holdings by 178.8% to 28,209 shares valued at about $4.32 million.
• Wall Street remains generally positive on ServiceNow despite recent price-target cuts, with a consensus rating of “Moderate Buy” and an average target of $144.71. Several firms reiterated Buy/Outperform ratings, even as targets were lowered.
• ServiceNow is being watched closely for its AI growth story, including a partnership with Accenture and management’s goal of more than $30 billion in subscription revenue by 2030, though bearish commentary warns of competitive and valuation risks.

Securian Asset Management Inc. increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 178.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,209 shares of the information technology services provider's stock after buying an additional 18,092 shares during the quarter. Securian Asset Management Inc.'s holdings in ServiceNow were worth $4,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% in the 3rd 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 in the last quarter. Noble Wealth Management PBC boosted its stake in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC boosted its stake in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in ServiceNow during the 4th quarter valued at $26,000. Finally, Albion Financial Group UT boosted its stake in ServiceNow by 400.0% during the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOW. Citizens Jmp reaffirmed a "market outperform" rating and set a $157.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Canaccord Genuity Group decreased their price target on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Piper Sandler decreased their price target on ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. BTIG Research reaffirmed a "buy" rating and set a $150.00 price target on shares of ServiceNow in a research note on Monday, May 4th. 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 equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.71.

Trending Headlines about ServiceNow

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

ServiceNow Price Performance

Shares of NYSE:NOW opened at $91.14 on Monday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The stock has a fifty day moving average of $102.80 and a 200-day moving average of $132.71. The company has a market capitalization of $93.96 billion, a PE ratio of 54.31, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. 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 (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company's quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director owned 46,430 shares of the company's stock, valued at $4,697,323.10. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm's stock in a transaction on 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 sale, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 25,164 shares of company stock worth $2,497,021 over the last three months. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.