ServiceNow, Inc. $NOW Shares Purchased by Smith Salley Wealth Management

Key Points

• Smith Salley Wealth Management boosted its stake in ServiceNow by 388.8% in Q4, buying an additional 13,958 shares to hold 17,548 shares worth about $2.69 million.
• Multiple large institutions (Nordea, Sumitomo Mitsui, WELLCOME, SG Americas, Aberdeen) also made sizable purchases in Q4, leaving institutional investors owning 87.18% of the company.
• Outlook is mixed: several brokerages trimmed price targets and negative narratives have pressured sentiment, though consensus remains a “Moderate Buy” with a $173.46 target while shares trade near <$100.

Smith Salley Wealth Management boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 388.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,548 shares of the information technology services provider's stock after purchasing an additional 13,958 shares during the period. Smith Salley Wealth Management's holdings in ServiceNow were worth $2,688,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its stake in ServiceNow by 388.7% during the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after acquiring an additional 3,743,087 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after buying an additional 2,064,440 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST boosted its stake in ServiceNow by 400.0% during the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 2,250,000 shares of the information technology services provider's stock worth $344,678,000 after buying an additional 1,800,000 shares during the period. SG Americas Securities LLC increased its position in shares of ServiceNow by 11,128.7% during the fourth quarter. SG Americas Securities LLC now owns 1,805,467 shares of the information technology services provider's stock valued at $276,579,000 after acquiring an additional 1,789,388 shares during the last quarter. Finally, Aberdeen Group plc raised its stake in shares of ServiceNow by 405.0% in the 4th quarter. Aberdeen Group plc now owns 1,448,931 shares of the information technology services provider's stock valued at $221,962,000 after acquiring an additional 1,162,005 shares during the period. 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: Marketwide risk‑on tone and tech earnings lifted software names, providing an immediate catalyst for NOW’s intraday bounce. Stocks Settle Higher on Tech Earnings and Ceasefire Optimism
• Positive Sentiment: Jim Cramer highlighted NOW as able to move higher, citing buyback expansion and insider buying — a retail/TV boost that can attract momentum buyers. Jim Cramer on ServiceNow: "It can go higher"
• Positive Sentiment: Product partnership: ComplianceCow announced integration with ServiceNow’s Integrated Risk Management product, supporting cross‑sell and platform adoption in GRC/security workflows. ComplianceCow Announces Integration with ServiceNow Integrated Risk Management
• Neutral Sentiment: Investors are focused on upcoming Q1 results and operational metrics beyond revenue/EPS (seat trends, ARR composition); Q1 guidance will likely be the next major catalyst. Countdown to ServiceNow (NOW) Q1 Earnings
• Neutral Sentiment: Industry roundups and Q4 peer comparisons are mixed—useful context but not an immediate directional trigger. Automation Software Stocks Q4 In Review: ServiceNow Vs Peers
• Negative Sentiment: Multiple major brokerages trimmed price targets (HSBC, Deutsche Bank, Capital One, Robert W. Baird, BMO, TD Cowen)—this cluster of downgrades/target cuts is weighing on sentiment and raises questions about future upside. HSBC target cut to $171 Deutsche Bank target cut to $135 Capital One target cut to $113
• Negative Sentiment: Negative narratives in some outlets (so‑called “death of software” / “SaaSpocalypse” and AI seat‑contraction stories) are pressuring sentiment and could amplify downside if Q1 metrics disappoint. ServiceNow suffered from "Death of software" narrative ServiceNow Is The Main Victim Of The SaaSpocalypse

ServiceNow Price Performance

Shares of NOW opened at $96.64 on Monday. The firm has a market capitalization of $100.13 billion, a price-to-earnings ratio of 57.94, a PEG ratio of 1.62 and a beta of 1.01. The firm's fifty day simple moving average is $105.72 and its 200-day simple moving average is $140.24. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results 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. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The company's revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul Fipps sold 3,696 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the sale, the insider owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the transaction, the director owned 46,430 shares of the company's stock, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,237 shares of company stock worth $1,697,162 over the last 90 days. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on NOW shares. Capital One Financial decreased their price target on ServiceNow from $158.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday. Truist Financial set a $125.00 price objective on shares of ServiceNow in a report on Wednesday. Needham & Company LLC reiterated a "buy" rating and set a $155.00 target price on shares of ServiceNow in a report on Thursday, February 5th. HSBC dropped their price target on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a research note on Thursday. Finally, BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price for the company in a report on Monday, March 16th. Three research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.46.

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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