ICONIQ Capital LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 80.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 115,717 shares of the information technology services provider’s stock after selling 483,353 shares during the period. ServiceNow accounts for approximately 0.3% of ICONIQ Capital LLC’s holdings, making the stock its 19th largest holding. ICONIQ Capital LLC’s holdings in ServiceNow were worth $11,488,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in ServiceNow in the 4th quarter worth approximately $2,020,992,000. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares during the period. Moors & Cabot Inc. boosted its stake in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares during the period. Bank of Nova Scotia grew its holdings in shares of ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after purchasing an additional 353,749 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of ServiceNow by 397.1% in the fourth quarter. Huntington National Bank now owns 544,257 shares of the information technology services provider’s stock worth $83,375,000 after buying an additional 434,761 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at ServiceNow
In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the transaction, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by insiders.
Analyst Ratings Changes
Read Our Latest Analysis on ServiceNow
Key Stories Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: ServiceNow’s recent rally was helped by Salesforce’s strong quarterly results and upbeat outlook, which eased concerns about a “SaaS-pocalypse.” Investors are increasingly viewing AI as an enhancement to existing enterprise workflows rather than a threat to core software platforms. Why ServiceNow Rallied Today
- Positive Sentiment: Analyst and market commentary highlights ServiceNow’s agentic-AI momentum, including more than $1 billion in AI annual contract value, broader enterprise adoption and potential new monetization opportunities. The company’s AI Control Tower and expanding customer spending are viewed as additional growth drivers. Agentic AI Adoption Boosts NOW’s Growth Prospects
- Positive Sentiment: Wall Street remains broadly constructive, with ServiceNow receiving Buy or Moderate Buy consensus ratings. The stock has also approached technical buy points, while some analysts have issued targets as high as $150 or substantially higher. Is It Worth Investing in ServiceNow Based on Wall Street’s Bullish Views?
- Neutral Sentiment: ServiceNow has risen about 70% from its yearly low and remains below its prior peak, creating debate over whether the move represents a new buying opportunity or a temporary rebound. Analysts’ median price target of approximately $134 is below the current trading level, limiting near-term upside based on that measure. Is It a Golden Opportunity to Buy ServiceNow Stock?
- Negative Sentiment: ServiceNow warned of three maximum-severity vulnerabilities that could allow unauthenticated attackers to execute code or access SQL systems. Although patches and mitigations may limit the financial impact, the disclosures create reputational, customer-retention and execution risks. Three CVSS 10.0 ServiceNow Flaws
- Negative Sentiment: At an elevated earnings multiple, the stock is vulnerable to profit-taking if AI growth slows. Jim Cramer recommended selling half a position and retaining the remainder, underscoring the sharp rally and the possibility that some optimism is already reflected in the shares. Jim Cramer’s ServiceNow Advice
ServiceNow Stock Performance
NYSE:NOW opened at $144.77 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $112.33 and its 200 day simple moving average is $106.61. The stock has a market cap of $149.69 billion, a P/E ratio of 90.48, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73.
ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current 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.
Featured Stories
- Five stocks we like better than ServiceNow
- Strike a Balance Between Growth and Stability With These 3 Names Ready to Rally
- Rubrik’s AI Security Bet Could Power the Next Leg Higher
- Apple’s Foldable iPhone Could Be a Catalyst, But Not a Cure-All
- Snowflake Is Up Nearly 50% in 2026—What Are Short Sellers Betting Against?
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.
