ServiceNow, Inc. $NOW Stock Position Raised by QRG Capital Management Inc.

Key Points

• QRG Capital Management boosted its ServiceNow stake by 429.5% in Q4, acquiring an additional 48,912 shares to hold 60,301 shares worth about $9.24 million, as many other institutions also increased positions (institutional ownership ~87%).
• ServiceNow is accelerating its AI push — launching Otto, expanding the AI Control Tower and forming partnerships with NVIDIA, Microsoft and others — which has spurred several analyst upgrades and optimism about a potential multiple re‑rating.
• The company reported quarterly EPS of $0.97 (in line) and revenue of $3.77 billion, up 22.1% year‑over‑year; the stock trades near $92 with a market cap around $95 billion and a consensus price target of $146.35.

QRG Capital Management Inc. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 429.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,301 shares of the information technology services provider's stock after acquiring an additional 48,912 shares during the quarter. QRG Capital Management Inc.'s holdings in ServiceNow were worth $9,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. TCI Wealth Advisors Inc. boosted its stake in ServiceNow by 381.0% in the fourth quarter. TCI Wealth Advisors Inc. now owns 4,685 shares of the information technology services provider's stock valued at $718,000 after acquiring an additional 3,711 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of ServiceNow by 871.7% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 7,268 shares of the information technology services provider's stock worth $1,113,000 after purchasing an additional 6,520 shares during the period. FWG Holdings LLC lifted its holdings in shares of ServiceNow by 471.3% in the 4th quarter. FWG Holdings LLC now owns 5,107 shares of the information technology services provider's stock worth $782,000 after purchasing an additional 4,213 shares during the last quarter. Varma Mutual Pension Insurance Co lifted its holdings in shares of ServiceNow by 338.7% in the 4th quarter. Varma Mutual Pension Insurance Co now owns 175,415 shares of the information technology services provider's stock worth $26,872,000 after purchasing an additional 135,432 shares during the last quarter. Finally, Truist Financial Corp boosted its position in ServiceNow by 364.1% during the 4th quarter. Truist Financial Corp now owns 612,984 shares of the information technology services provider's stock valued at $93,903,000 after purchasing an additional 480,912 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Launched "Otto" and expanded the AI Control Tower and Autonomous Workforce — new products (Autonomous CRM, Autonomous Security & Risk, AI Control Tower enhancements) position ServiceNow as an enterprise "AI control tower" that can drive higher subscription monetization. ServiceNow Otto creates the unified AI experience for the enterprise
• Positive Sentiment: Expanded strategic partnerships (NVIDIA, Microsoft, FedEx, Lenovo, Ataccama, Cloudera) to operationalize and govern agentic AI across desktops, data centers and supply chains — lowers friction for large customers to deploy AI at scale. ServiceNow extends agentic AI governance from desktops to data centers with NVIDIA
• Positive Sentiment: Wall Street reaction: several firms raised or reaffirmed bullish ratings / price targets (Evercore, Barclays, Capital One, Citi, DA Davidson among others), signaling analyst confidence that AI product momentum can re‑rate multiples. ServiceNow (NOW) Stock Has More Than 100% Upside, Says Analyst Following Investor Day
• Neutral Sentiment: Management reiterated aggressive long‑term revenue ambition (targeting roughly $30B in subscription revenue by 2030) and highlighted Now Assist ARR progress — a clear growth target but distant and dependent on successful enterprise rollouts. ServiceNow lays out path to $30 billion in annual subscription revenue as AI bets accelerate
• Negative Sentiment: Analyst caution: Wolfe Research trimmed its price target and noted more conservative near‑term guidance tied to delayed on‑premise deals in certain regions — a reminder that some revenue is timing‑sensitive. Wolfe Research Lowers PT on ServiceNow (NOW) stock
• Negative Sentiment: Investor skepticism about acquisition pace and integration (recent M&A spree for AI firms) could cap multiple expansion if execution or margins slip. ServiceNow CEO sends blunt message on acquisitions

ServiceNow Trading Up 0.0%

NYSE:NOW opened at $92.01 on Wednesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The stock has a market cap of $94.86 billion, a price-to-earnings ratio of 54.83, a PEG ratio of 1.63 and a beta of 0.82. The business has a fifty day moving average of $103.21 and a 200-day moving average of $133.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

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 for the quarter, meeting analysts' consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company's revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Equities analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NOW shares. Oppenheimer set a $130.00 target price on ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, April 15th. BMO Capital Markets reduced their price target on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $121.00 price target on shares of ServiceNow in a research report on Tuesday. BTIG Research reaffirmed a "buy" rating and issued a $150.00 price objective on shares of ServiceNow in a report on Monday. Finally, Evercore lifted their price objective on shares of ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday. Two 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 issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $146.35.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the company's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the sale, the insider directly owned 26,314 shares of the company's stock, valued at approximately $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,164 shares of company stock worth $2,497,021 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

About ServiceNow

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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