Sit Investment Associates Inc. Raises Holdings in ServiceNow, Inc. $NOW

Key Points

• Sit Investment Associates Inc. sharply increased its stake in ServiceNow during the fourth quarter, boosting holdings by 384.2% to 73,837 shares valued at about $11.3 million.
• ServiceNow continues to push its AI strategy through new partnerships and integrations with firms like Wipro, Digimarc, HPE, Cognizant, and Aria Systems, expanding use cases across enterprise operations and telecom.
• Analysts remain broadly bullish on the stock despite some lower price targets, with the consensus rating at “Moderate Buy” and an average target price of $142.17 versus a recent share price of $95.51.

Sit Investment Associates Inc. boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 384.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,837 shares of the information technology services provider's stock after acquiring an additional 58,588 shares during the quarter. Sit Investment Associates Inc.'s holdings in ServiceNow were worth $11,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC lifted its stake in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC increased its position in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 128 shares in the last quarter. Millstone Evans Group LLC raised its holdings in ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after buying an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new stake in ServiceNow during the fourth quarter worth approximately $25,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem with new partnerships involving Wipro, Digimarc, and HPE, highlighting broader adoption of its platform for enterprise rollout, AI trust, and unified operations. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Cognizant said ServiceNow AI Agents now interoperate with its Neuro AI Multi-Agent Accelerator, which could strengthen ServiceNow’s position in cross-platform enterprise AI orchestration. Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Positive Sentiment: Aria Systems and ServiceNow launched what they called the world’s first agentic BSS for telecoms, suggesting another vertical use case that could expand ServiceNow’s enterprise footprint. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms
• Positive Sentiment: Analyst coverage remains upbeat: one roundup cited 90% of 50 analysts with Buy ratings and an average price target implying meaningful upside, reinforcing the stock’s long-term AI growth narrative. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Neutral Sentiment: Zacks highlighted ServiceNow’s AI Control Tower as a potential future growth engine, but the article was more of a thesis piece than a hard catalyst. Can AI Control Tower Become ServiceNow's Next Growth Engine?

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,071 shares of company stock valued at $2,529,956 over the last ninety days. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NOW shares. Mizuho cut their target price on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Morgan Stanley lowered their price target on ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Capital One Financial increased their price target on ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. BTIG Research reissued a "buy" rating and issued a $150.00 price objective on shares of ServiceNow in a research report on Monday, May 4th. Finally, Truist Financial reduced their price objective on ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a research note 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 given a Sell rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $142.17.

ServiceNow Price Performance

Shares of NOW stock opened at $95.51 on Friday. The firm has a fifty day simple moving average of $99.60 and a 200-day simple moving average of $117.97. The company has a market capitalization of $98.47 billion, a PE ratio of 56.92, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. 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 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $3.75 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm's quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

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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