Victory Capital Management Inc. Acquires 2,834,529 Shares of ServiceNow, Inc. $NOW

Key Points

• Victory Capital Management sharply increased its ServiceNow stake by 274.3% in the fourth quarter, buying 2.83 million additional shares and bringing its total holding to 3.87 million shares valued at about $592.6 million.
• Wall Street remains constructive on ServiceNow, with a consensus rating of “Moderate Buy” and an average price target of $141.85, even though several firms recently trimmed their targets.
• ServiceNow’s latest quarter met earnings expectations with EPS of $0.97 and revenue of $3.77 billion, while revenue rose 22.1% year over year; the stock was trading around $102.34, well below its 52-week high.

Victory Capital Management Inc. lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 274.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,868,025 shares of the information technology services provider's stock after purchasing an additional 2,834,529 shares during the period. Victory Capital Management Inc. owned 0.37% of ServiceNow worth $592,551,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NOW. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares during the period. Sivia Capital Partners LLC increased its stake in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after acquiring an additional 34 shares during the period. United Bank increased its stake in ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after acquiring an additional 204 shares during the period. Riggs Asset Managment Co. Inc. increased its stake in ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after acquiring an additional 42 shares during the period. Finally, Nebula Research & Development LLC increased its stake in ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after acquiring an additional 609 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NOW shares. Jefferies Financial Group restated a "buy" rating and set a $135.00 price target (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. HSBC lowered their price target on ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Truist Financial lowered their price target on ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price target on the stock in a research note on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $141.85.

ServiceNow Stock Down 0.7%

NYSE NOW opened at $102.34 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average is $99.80 and its two-hundred day moving average is $120.05. The company has a market capitalization of $105.51 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.70 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last released 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 company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company's quarterly 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 forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 30,090 shares in the company, valued at $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 sold 28,071 shares of company stock valued at $2,529,956 over the last quarter. 0.34% of the stock is owned by insiders.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow lifted its 2026 AI revenue target to $1.5 billion, signaling that demand for Now Assist is strong and that customers are expanding AI deployments and spending more on the platform. Can Strong Demand in Now Assist Boost ServiceNow's AI Revenue Growth?
• Positive Sentiment: IBM and ServiceNow announced a partnership aimed at helping enterprises modernize legacy IT systems and scale agentic AI, which could support longer-term adoption of ServiceNow’s workflow automation and AI tools. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: Analysts and commentators highlighted ServiceNow as a potential AI winner in the second half of 2026, reinforcing the market’s view that the company could benefit from rising enterprise AI spending. The AI Trade Nobody Is Making Right Now -- and Why It Could Be 2026's Best Opportunity
• Neutral Sentiment: ServiceNow and IBM also drew attention for targeting legacy IT modernization, but the immediate impact on the stock is likely more strategic than near-term financial. ServiceNow, IBM team up to target legacy IT
• Negative Sentiment: The stock has also been under pressure from profit-taking and a broader selloff in software names, which has weighed on sentiment despite the company’s AI growth narrative. What's Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Reports of additional Bay Area tech job cuts added to concerns about the broader enterprise software and technology labor backdrop, though this is not specific to ServiceNow’s core results. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

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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