ServiceNow, Inc. $NOW Shares Purchased by Icon Wealth Advisors LLC

Key Points

• Icon Wealth Advisors LLC boosted its ServiceNow stake by 501.8% in the fourth quarter, ending with 26,824 shares worth about $4.25 million.
• Institutional investors continue to pile into the stock, with firms like Norges Bank and Sumitomo Mitsui Trust Group making large holdings; overall, 87.18% of ServiceNow shares are now owned by institutions and hedge funds.
• Analysts remain mostly positive despite some lower price targets: ServiceNow has a Moderate Buy consensus rating, an average target price of $141.85, and the company recently reported revenue and EPS that met or beat expectations for the quarter.

Icon Wealth Advisors LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 501.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,824 shares of the information technology services provider's stock after purchasing an additional 22,367 shares during the period. Icon Wealth Advisors LLC's holdings in ServiceNow were worth $4,247,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of ServiceNow during the 4th quarter valued at $2,020,992,000. Cohen Klingenstein LLC boosted its position in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock worth $1,532,000 after purchasing an additional 8,000 shares during the period. World Investment Advisors boosted its position in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock worth $7,218,000 after purchasing an additional 38,583 shares during the period. Moors & Cabot Inc. boosted its position in ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock worth $6,990,000 after purchasing an additional 36,274 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Oppenheimer reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Tuesday, May 26th. FBN Securities decreased their price target on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, Mizuho decreased their price target on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $141.85.

ServiceNow News Summary

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

ServiceNow Stock Performance

Shares of NOW stock opened at $102.34 on Friday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $105.51 billion, a P/E ratio of 60.99, a P/E/G ratio of 1.69 and a beta of 0.94. The company's fifty day moving average price is $99.80 and its two-hundred day moving average price is $120.05.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The firm's revenue was up 22.1% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business's 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 transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their position. 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. Over the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by corporate insiders.

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.