ServiceNow, Inc. $NOW Shares Bought by Gemmer Asset Management LLC

Key Points

• Gemmer Asset Management boosted its stake in ServiceNow by 400.8% in Q4, buying an additional 96,772 shares to hold 120,915 shares worth $18.52 million, making NOW its 20th-largest holding.
• Analyst sentiment is mixed—several downgrades and lowered price targets (e.g., UBS cut to Neutral; RBC trimmed its target) have pressured the stock, but MarketBeat's consensus remains a "Moderate Buy" with an average target of $186.30.
• Insiders have been net sellers recently, offloading 16,237 shares (~$1.7M) over three months (notable sales by Kevin McBride and Paul Fipps); institutional investors still own 87.18% of the stock while insiders hold 0.34%.

Gemmer Asset Management LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,915 shares of the information technology services provider's stock after purchasing an additional 96,772 shares during the period. ServiceNow comprises 1.4% of Gemmer Asset Management LLC's holdings, making the stock its 20th biggest holding. Gemmer Asset Management LLC's holdings in ServiceNow were worth $18,523,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NOW. Brighton Jones LLC grew its stake 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 worth $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC grew its stake 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 worth $861,000 after purchasing an additional 34 shares during the last quarter. United Bank grew its stake 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 worth $1,562,000 after purchasing an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake 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 worth $1,976,000 after purchasing an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC grew its stake 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 worth $931,000 after purchasing an additional 609 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Qlik partnership strengthens ServiceNow’s AI/data story by bringing “trusted enterprise context” into AI-powered workflows—could boost product differentiation and adoption if integrated successfully. Qlik and ServiceNow Partner to Bring Trusted Enterprise Context into AI-Powered Workflows
• Positive Sentiment: Coverage noting a $100 price target frames some institutional investors as defending the stock against AI-disruption fears—signals pockets of investor conviction that could limit downside. ServiceNow's $100 Price Target: Institutional Bet Defies AI Disruption Fears
• Neutral Sentiment: RBC lowered its price target from $150 to $121 but kept an “outperform” rating—reduces near-term valuation support but still implies substantial upside from current levels. RBC Adjusts Price Target on ServiceNow to $121 from $150; Maintains Outperform Rating
• Negative Sentiment: UBS cut NOW to Neutral—a direct downgrade that typically pressures the stock as model/projections are reweighted. ServiceNow NYSE: NOW Cut to Neutral at UBS Group
• Negative Sentiment: Analyst commentary and op-eds argue ServiceNow still trades richly versus peers and that a valuation correction may not be over—heightens selling pressure on momentum and growth expectations. ServiceNow: Still Trading Richly Above Peers, Correction Is Far From Over
• Negative Sentiment: Coverage highlights Wall Street skepticism about ServiceNow’s AI pivot—narrative risk for a stock trading at premium multiples if investors doubt execution or competitive position. ServiceNow's AI Pivot Meets Wall Street's Skepticism
• Negative Sentiment: News aggregators flagged NOW among recent large-cap losers amid macro concerns, AI competition and analyst downgrades—reinforces short-term downward momentum. Cloudflare, ServiceNow, And Guardant Health Are Among Top 10 Large-Cap Losers Last Week
• Negative Sentiment: Reports noted a sizeable intraday share drop tied to analyst downgrades—evidence that negative broker moves are directly moving the tape. ServiceNow NYSE: NOW Shares Down 7.6% After Analyst Downgrade

Insider Activity at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the transaction, the insider directly owned 26,314 shares of the company's stock, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Fipps sold 9,641 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, the insider directly owned 11,757 shares in the company, valued at $1,245,419.01. The trade was a 45.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,237 shares of company stock valued at $1,697,162. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. DA Davidson reaffirmed a "buy" rating and issued a $220.00 price objective on shares of ServiceNow in a research note on Thursday, January 29th. Wells Fargo & Company lowered their price objective on shares of ServiceNow from $225.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft set a $180.00 target price on shares of ServiceNow in a research report on Thursday, January 29th. Citigroup lifted their target price on shares of ServiceNow from $235.00 to $237.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Finally, Mizuho decreased their price objective on shares of ServiceNow from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, January 21st. Three 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $186.30.

ServiceNow Trading Up 7.4%

ServiceNow stock opened at $89.13 on Tuesday. The company has a 50 day moving average price of $106.70 and a 200 day moving average price of $142.82. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $92.36 billion, a price-to-earnings ratio of 53.44, a P/E/G ratio of 1.39 and a beta of 1.01.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the business posted $0.73 EPS. The company's revenue was up 20.7% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current 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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

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.