ServiceNow, Inc. $NOW Shares Purchased by Truist Financial Corp

Key Points

• Truist Financial Corp boosted its stake in ServiceNow by 364.1% in Q4, adding 480,912 shares to hold 612,984 shares worth about $93.9 million (≈0.06% of the company).
• Management is pushing an AI-driven growth thesis, targeting roughly $30B in subscription revenue by 2030 and saying its Now Assist product has surpassed $750M in annual contract value.
• Institutional investors own 87.18% of ServiceNow, yet insiders sold 25,164 shares in the past three months (insider ownership 0.34%); analysts have trimmed price targets but the consensus rating remains a "Moderate Buy" with a $145.87 target.

Truist Financial Corp increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 364.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 612,984 shares of the information technology services provider's stock after acquiring an additional 480,912 shares during the quarter. Truist Financial Corp owned approximately 0.06% of ServiceNow worth $93,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bellecapital International Ltd. boosted its position in shares of ServiceNow by 447.1% during the 4th quarter. Bellecapital International Ltd. now owns 1,800 shares of the information technology services provider's stock valued at $276,000 after acquiring an additional 1,471 shares during the last quarter. KPP Advisory Services LLC boosted its position in shares of ServiceNow by 444.6% during the 4th quarter. KPP Advisory Services LLC now owns 5,528 shares of the information technology services provider's stock valued at $847,000 after acquiring an additional 4,513 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 349.2% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,035 shares of the information technology services provider's stock valued at $312,000 after acquiring an additional 1,582 shares during the last quarter. Intact Investment Management Inc. boosted its position in shares of ServiceNow by 516.3% during the 4th quarter. Intact Investment Management Inc. now owns 12,265 shares of the information technology services provider's stock valued at $1,879,000 after acquiring an additional 10,275 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC boosted its position in shares of ServiceNow by 108.9% during the 4th quarter. B.O.S.S. Retirement Advisors LLC now owns 2,256 shares of the information technology services provider's stock valued at $346,000 after acquiring an additional 1,176 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the sale, the director directly owned 46,430 shares in the company, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 25,164 shares of company stock worth $2,497,021. 0.34% of the stock is owned by company insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow laid out a plan to double subscription revenue to ~$30B by 2030 and said its Now Assist product has passed ~$750M in annual contract value — a clear signal management expects AI-driven subscription growth. ServiceNow lays out path to $30 billion in annual subscription revenue as AI bets accelerate
• Positive Sentiment: Investors are positioning ahead of Analyst Day and cheered a multi‑year DXC agreement that frames DXC as an early adopter for ServiceNow’s agentic AI capabilities — supports expectations for enterprise AI deployments. ServiceNow shares rise as investors focus on Analyst Day and fresh enterprise AI partnership momentum
• Positive Sentiment: BTIG reaffirmed a Buy rating with a $150 target and high‑profile supporters (e.g., positive comments from Jim Cramer) are helping sentiment around management’s ability to “put on a show” at Analyst Day. Jim Cramer on ServiceNow: “I Am Sure That Bill McDermott Will Put on a Good Show”
• Neutral Sentiment: Analyst/press previews say Investor Day will focus on AI product innovation and pricing (BNP) and the company continues embedding AI across the platform (Context Engine) — these are execution items investors want to see validated during presentations. ServiceNow's investor day likely to focus on AI product innovation, pricing: BNP ServiceNow embeds AI across all products with Context Engine
• Negative Sentiment: Wolfe Research cut its price objective from $175 to $125 (but kept an Outperform rating), reflecting concerns about delayed on‑prem deals and more conservative near‑term guidance — this reduces upside expectations for some investors. Wolfe Research Lowers PT on ServiceNow (NOW) stock
• Negative Sentiment: Residual selling pressure from April — driven by sectorwide “AI displacement” fears and margin compression despite meeting Q1 numbers — still clouds sentiment and explains why some investors remain cautious. Why ServiceNow Stock Fell 16% in April

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOW shares. Argus lowered their price target on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research report on Friday, April 24th. Oppenheimer set a $130.00 price target on shares of ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, April 15th. Macquarie Infrastructure reduced their price objective on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a report on Thursday, January 29th. Capital One Financial reduced their price objective on shares of ServiceNow from $158.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, April 16th. Finally, FBN Securities reduced their price objective on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus target price of $145.87.

ServiceNow Stock Up 0.8%

Shares of NOW opened at $91.92 on Tuesday. The firm has a market cap of $94.77 billion, a P/E ratio of 54.78, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company's 50-day moving average price is $103.45 and its 200 day moving average price is $134.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm 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%. ServiceNow's revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share 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.

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