ServiceNow, Inc. $NOW Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its stake in ServiceNow by 3.0% in the first quarter, buying 17,729 additional shares and bringing its total holdings to 608,412 shares worth about $63.3 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 87.18% of ServiceNow’s stock. Several large firms, including Vanguard and State Street, also boosted their positions significantly.
• Analysts remain broadly positive: ServiceNow has a Moderate Buy consensus rating and a consensus price target of $141.03, while recent commentary has pointed to AI adoption and subscription growth as potential catalysts despite valuation and cost concerns.

Allspring Global Investments Holdings LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 608,412 shares of the information technology services provider's stock after acquiring an additional 17,729 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of ServiceNow worth $63,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position 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 valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. State Street Corp lifted its holdings in shares of ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD grew its position in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock valued at $4,962,692,000 after buying an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock valued at $3,591,425,000 after buying an additional 18,854,775 shares during the period. Finally, Morgan Stanley raised its position in ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock worth $3,482,543,000 after buying an additional 17,514,679 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company's stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NOW shares. Morgan Stanley lowered their target price on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Truist Financial lifted their price objective on ServiceNow from $120.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Argus dropped their target price on ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, April 24th. Citic Securities cut their target price on ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Finally, Guggenheim raised ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 price target for the company in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.03.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

ServiceNow Stock Down 0.6%

ServiceNow stock opened at $103.40 on Friday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $210.20. The firm has a market capitalization of $106.60 billion, a price-to-earnings ratio of 61.62, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. The stock's fifty day moving average is $103.97 and its two-hundred day moving average is $109.58. 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 released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. Analysts predict that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

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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