ServiceNow, Inc. $NOW Shares Acquired by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its ServiceNow stake by 356.6% in the fourth quarter, buying 47,823 additional shares and bringing its total holdings to 61,234 shares worth about $9.38 million.
• ServiceNow continues to attract broad institutional ownership, with 87.18% of shares held by institutions and hedge funds, while several other investors also added to their positions.
• Analyst sentiment remains mostly positive despite the stock’s weakness: multiple firms reiterated Buy/Outperform ratings, and the consensus target price stands at $144.71 versus a recent share price of $91.14.

NewEdge Wealth LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 356.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,234 shares of the information technology services provider's stock after purchasing an additional 47,823 shares during the period. NewEdge Wealth LLC's holdings in ServiceNow were worth $9,380,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after purchasing an additional 34 shares in the last quarter. United Bank raised its position in shares of ServiceNow by 15.5% in the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after purchasing an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of ServiceNow by 2.2% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after purchasing an additional 609 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NOW shares. BTIG Research reaffirmed a "buy" rating and issued a $150.00 target price on shares of ServiceNow in a research report on Monday, May 4th. Benchmark started coverage on ServiceNow in a research report on Wednesday, April 1st. They issued a "buy" rating and a $125.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Cantor Fitzgerald cut their target price on ServiceNow to $122.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Finally, Argus cut 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. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $144.71.

ServiceNow Price Performance

Shares of NOW opened at $91.14 on Monday. The company has a market cap of $93.96 billion, a P/E ratio of 54.31, a PEG ratio of 1.61 and a beta of 0.82. The stock has a fifty day moving average price of $102.80 and a 200 day moving average price of $132.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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 company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the prior 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. On average, research analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 9,641 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the transaction, the insider owned 11,757 shares in the company, valued at $1,245,419.01. This trade represents a 45.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 25,164 shares of company stock worth $2,497,021. Corporate 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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