First Financial Bank Trust Division bought a new position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 41,124 shares of the information technology services provider’s stock, valued at approximately $5,511,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Greenwich Wealth Management LLC lifted its stake in shares of ServiceNow by 5.2% in the second quarter. Greenwich Wealth Management LLC now owns 5,816 shares of the information technology services provider’s stock valued at $577,000 after purchasing an additional 290 shares during the period. QRG Capital Management Inc. grew its position in ServiceNow by 6.8% during the second quarter. QRG Capital Management Inc. now owns 132,947 shares of the information technology services provider’s stock worth $13,199,000 after buying an additional 8,486 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in ServiceNow by 61.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 52,800 shares of the information technology services provider’s stock worth $5,242,000 after buying an additional 20,173 shares during the period. State Street Corp increased its holdings in ServiceNow by 2.0% in the second quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider’s stock valued at $4,868,514,000 after buying an additional 979,726 shares in the last quarter. Finally, National Pension Service lifted its position in shares of ServiceNow by 5.8% during the 2nd quarter. National Pension Service now owns 2,705,240 shares of the information technology services provider’s stock valued at $268,576,000 after acquiring an additional 147,467 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.
Key ServiceNow News
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: Strong software-sector rebound: ServiceNow rallied alongside Intuit, Adobe and other software stocks as enterprise technology names recovered. The move was supported by Accenture’s better-than-expected quarterly results and optimistic fiscal 2027 revenue outlook, which eased concerns about corporate technology spending. ServiceNow Rallies as Accenture Earnings Lift Software Stocks
- Positive Sentiment: AI positioning remains a key bullish argument: Deutsche Bank identified ServiceNow as one of its preferred technology stocks for the rest of the year, while Nvidia CEO Jensen Huang described the company as potentially the leading enterprise-AI platform. ServiceNow has reported more than $1 billion in annual AI contract value, reinforcing expectations that AI adoption can support future growth. Meta, ServiceNow and These Tech Stocks Could Lead the Next Leg of the AI Trade
- Positive Sentiment: Analysts and technical investors see recovery potential: ServiceNow is viewed as a reset AI name whose enterprise workflow position, broad Fortune 500 customer base and embedded software relationships could provide additional upside after its earlier pullback. Recent analyst targets cited by the articles range as high as $170, although the median target in the supplied data is $134. Down 50% and Climbing Again: 3 AI Stocks Rebuilding After Brutal Pullbacks
- Neutral Sentiment: ServiceNow’s fundamentals remain solid, with recent revenue growth of 24% year over year and quarterly earnings and revenue above consensus. However, its elevated valuation means continued AI contract growth and improving deal activity are needed to justify the multiple.
- Negative Sentiment: Investors continue to monitor reported AI-related security issues, possible delays in near-term enterprise deals and the risk that AI disruption or slower technology spending could pressure results. Insider activity has also been entirely sales-oriented in the supplied six-month data, while institutional positioning has been mixed.
ServiceNow Price Performance
ServiceNow (NYSE:NOW – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.22 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently commented on NOW. BMO Capital Markets boosted their price target on ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, September 21st. UBS Group set a $248.00 target price on ServiceNow in a research report on Thursday, July 23rd. Robert W. Baird upped their target price on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of ServiceNow in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.
Get Our Latest Stock Analysis on NOW
Insider Activity
In related news, insider Jacqueline Canney sold 7,847 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the sale, the insider owned 30,042 shares of the company’s stock, valued at $4,145,796. This trade represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total value of $300,767.58. Following the sale, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,081 shares of company stock worth $1,937,904 over the last three months. 0.34% of the stock is currently owned by corporate insiders.
ServiceNow Company Profile
ServiceNow, Inc is a cloud-based enterprise software company that helps organizations digitize, automate and manage workflows. Its platform connects people, processes and systems across departments, enabling businesses to replace manual, disconnected activities with standardized digital workflows.
The company’s products and services support a range of functions, including information technology service management, IT operations management, customer service, human resources, risk and security operations, and software development.
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