Stevens Capital Management LP Increases Position in ServiceNow, Inc. $NOW

Key Points

• Stevens Capital Management LP raised its stake in ServiceNow by 515.7% in Q4, buying 25,860 shares to hold 30,875 shares worth about $4.73 million (≈1.7% of its portfolio and its 14th-largest position).
• Several other institutions also massively increased holdings (e.g., Sumitomo Mitsui Trust added ~2.06M shares; Jennison added ~6.21M shares), leaving institutional ownership at about 87.18%.
• ServiceNow launched the unified enterprise AI experience “Otto”, expanded partnerships (NVIDIA, Microsoft, FedEx, Lenovo) and new autonomous product features, boosting analyst sentiment and price targets while some warn of valuation and execution risk.

Stevens Capital Management LP lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 515.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,875 shares of the information technology services provider's stock after buying an additional 25,860 shares during the quarter. ServiceNow makes up about 1.7% of Stevens Capital Management LP's portfolio, making the stock its 14th biggest position. Stevens Capital Management LP's holdings in ServiceNow were worth $4,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Cohen Klingenstein LLC raised its stake in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after acquiring an additional 8,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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 purchasing an additional 2,064,440 shares during the period. Torray Investment Partners LLC grew its stake in ServiceNow by 390.5% in the fourth quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider's stock worth $6,224,000 after purchasing an additional 32,345 shares in the last quarter. Jennison Associates LLC grew its stake in ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. Finally, Narwhal Capital Management increased its holdings in ServiceNow by 763.5% during the 4th quarter. Narwhal Capital Management now owns 16,977 shares of the information technology services provider's stock worth $2,601,000 after purchasing an additional 15,011 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Activity

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

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Major product push — ServiceNow unveiled "Otto" (a unified enterprise AI experience) and expanded its Autonomous Workforce and AI Control Tower, positioning the platform to sell higher-value, agent-driven workflows across functions. ServiceNow Otto launch
• Positive Sentiment: Partnership momentum — New/expanded partnerships with NVIDIA, Microsoft, FedEx, Lenovo and others tie ServiceNow into enterprise AI stacks and supply‑chain/IT workflows, which should help adoption and drive larger deals. NVIDIA partnership
• Positive Sentiment: New revenue levers — ServiceNow launched Autonomous CRM and Autonomous Security & Risk features that expand addressable spend in customer-facing and security domains, strengthening the path to higher contract values. Autonomous CRM
• Positive Sentiment: Analyst bullishness — Multiple firms raised/affirmed ratings and price targets (Evercore, Barclays, Capital One, BTIG, Citizens JMP, DA Davidson, etc.), and some analysts now argue for >100% upside after the investor/analyst day. That lifts near-term sentiment and trading flows. Barclays raises PT
• Neutral Sentiment: Long-term targets reiterated — Management reiterated aggressive long-term subscription/revenue goals (targeting ~ $30–32B by 2030), supporting the growth narrative but requiring sustained execution to justify current multiples. Revenue by 2030
• Neutral Sentiment: Management messaging on M&A — CEO comments attempted to address investor concerns around ServiceNow’s recent acquisitions (Moveworks, Veza, Armis); the remarks aim to reassure but may not fully remove skepticism about deal timing/valuation. CEO on acquisitions
• Negative Sentiment: Valuation/near-term risk — Wolfe Research trimmed its price target citing some deal delays (e.g., on‑prem projects in the Middle East), a reminder that execution hiccups could pressure the stock even as the AI story is priced in. Wolfe lowers PT

ServiceNow Trading Up 0.0%

Shares of NYSE:NOW opened at $92.01 on Wednesday. The company has a market capitalization of $94.86 billion, a PE ratio of 54.83, a P/E/G ratio of 1.63 and a beta of 0.82. 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, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The business's fifty day simple moving average is $103.21 and its 200-day simple moving average is $133.96.

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, hitting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the prior year, the business posted $0.81 EPS. The firm's quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOW. Raymond James Financial lowered their target price on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Morgan Stanley cut their price target on ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Benchmark initiated coverage on shares of ServiceNow in a report on Wednesday, April 1st. They set a "buy" rating and a $125.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Two 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $146.35.

ServiceNow Company 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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