Wedbush Fund Advisers LLC Acquires 69,931 Shares of ServiceNow, Inc. $NOW

Posted by Brian Himes on Aug 26th, 2026

Wedbush Fund Advisers LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW – Free Report) by 29.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,303 shares of the information technology services provider’s stock after purchasing an additional 69,931 shares during the period. ServiceNow accounts for about 2.7% of Wedbush Fund Advisers LLC’s holdings, making the stock its 22nd biggest position. Wedbush Fund Advisers LLC’s holdings in ServiceNow were worth $30,608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Florida Financial Advisors LLC boosted its holdings in shares of ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after acquiring an additional 14 shares during the period. Clark Capital Management Group Inc. lifted its holdings in ServiceNow by 3.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after purchasing an additional 18 shares in the last quarter. American Trust lifted its holdings in ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after purchasing an additional 18 shares in the last quarter. Morse Asset Management Inc boosted its stake in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock worth $3,586,000 after purchasing an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC grew its holdings in ServiceNow by 3.7% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after buying an additional 20 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $248.00 price target (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Cantor Fitzgerald raised their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. CLSA started coverage on shares of ServiceNow in a report on Monday, July 20th. They set an “underperform” rating and a $72.00 target price on the stock. Finally, BMO Capital Markets increased their target price on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $144.24.

Check Out Our Latest Research Report on ServiceNow

ServiceNow Price Performance

NOW stock opened at $126.98 on Wednesday. The firm has a 50 day simple moving average of $109.87 and a two-hundred day simple moving average of $105.90. The stock has a market cap of $131.29 billion, a PE ratio of 79.36, a P/E/G ratio of 2.25 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating 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 firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the sale, the director owned 46,690 shares in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

Positive Sentiment: ServiceNow’s expanded, multiyear AI partnership with Tech Mahindra is intended to accelerate enterprise deployments, strengthen AI governance and support monetization. The agreement could improve ServiceNow’s competitive position against Salesforce and Microsoft. Can NOW’s Tech Mahindra Deal Boost Its AI Edge Over CRM & MSFT?
Positive Sentiment: ServiceNow partners are building implementation and advisory offerings around its AI platform. CoreX’s launch of AI Horizon highlights growing ecosystem support and may help customers adopt AI-native workflows, potentially increasing platform usage and services demand. CoreX Launches AI Horizon to Guide Enterprises to AI-Native Work
Positive Sentiment: Bank of America’s decision to raise price targets across software stocks suggests analysts see the sector selloff as potentially stabilizing, providing a more supportive backdrop for NOW. Bank of America raises price targets on 10 software stocks
Neutral Sentiment: Analysts view ServiceNow as a major beneficiary of AI-driven enterprise workflow spending, but the stock’s move toward the $150 area makes continued gains dependent on stronger execution, growth and evidence that AI products are generating material revenue. ServiceNow Just Ripped 29% in a Month
Negative Sentiment: Datadog is currently favored over ServiceNow because of faster growth, stronger earnings surprises and expanding AI opportunities, reinforcing concerns that NOW’s premium valuation may be difficult to sustain. DDOG vs. NOW: Which Cloud Software Stock Has an Edge Right Now?
Negative Sentiment: Investors remain concerned that AI-generated or “vibe-coded” applications could eventually reduce demand for traditional SaaS platforms, including ServiceNow. Questions about acquisitions and capital allocation add further risk, while a broader rotation away from technology could limit near-term upside.

About ServiceNow

(Free Report)

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.