SteelPeak Wealth LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 483.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,070 shares of the information technology services provider’s stock after buying an additional 6,686 shares during the period. SteelPeak Wealth LLC’s holdings in ServiceNow were worth $1,236,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NOW. Vanguard Group Inc. raised its stake in ServiceNow by 1.6% in the third quarter. Vanguard Group Inc. now owns 20,210,924 shares of the information technology services provider’s stock valued at $18,599,709,000 after buying an additional 315,861 shares in the last quarter. State Street Corp increased its holdings in shares of ServiceNow by 1.4% in the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock valued at $8,700,970,000 after acquiring an additional 131,080 shares during the last quarter. Nordea Investment Management AB raised its position in shares of ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock worth $720,325,000 after acquiring an additional 3,743,087 shares in the last quarter. Wellington Management Group LLP raised its position in shares of ServiceNow by 5.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,287,300 shares of the information technology services provider’s stock worth $2,104,956,000 after acquiring an additional 118,060 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in ServiceNow by 10.2% during the second quarter. Alliancebernstein L.P. now owns 1,910,078 shares of the information technology services provider’s stock worth $1,963,713,000 after purchasing an additional 177,392 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Capital One Financial lowered their price target on ServiceNow from $188.00 to $161.00 and set an “overweight” rating for the company in a report on Friday, January 16th. BTIG Research reissued a “buy” rating and set a $200.00 price objective on shares of ServiceNow in a report on Thursday, January 29th. The Goldman Sachs Group set a $216.00 price objective on shares of ServiceNow in a research report on Monday, February 2nd. Evercore restated an “outperform” rating and issued a $175.00 target price (down from $225.00) on shares of ServiceNow in a report on Thursday, January 29th. Finally, Wells Fargo & Company dropped their target price on shares of ServiceNow from $225.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $188.59.
ServiceNow Price Performance
Shares of NYSE NOW opened at $101.98 on Friday. The stock has a market cap of $106.67 billion, a P/E ratio of 61.14, a P/E/G ratio of 1.71 and a beta of 1.01. ServiceNow, Inc. has a twelve month low of $98.00 and a twelve month high of $211.48. The stock has a 50 day moving average of $110.44 and a two-hundred day moving average of $147.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.
ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.53 billion. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.
Key Headlines Impacting ServiceNow
Here are the key news stories impacting ServiceNow this week:
- Positive Sentiment: CEO Bill McDermott personally invested roughly $3 million into NOW, signaling management confidence and providing a direct vote of conviction amid the pullback. ServiceNow (NOW) Stock: CEO Invests $3M Amid 32% Year-to-Date Decline
- Positive Sentiment: ServiceNow expanded its partnership with NVIDIA to operationalize the company’s AI “Control Tower,” which could accelerate product differentiation and enterprise AI adoption—a strategic positive for growth and gross-margin leverage. ServiceNow (NOW) Expands Partnership With NVIDIA
- Positive Sentiment: Following the sharp pullback, at least one outlet highlights a fresh buy call — fresh analyst interest could attract value-focused funds looking for rebound candidates after the sell-off. ServiceNow Gets Fresh Buy Call After Sharp Pullback
- Positive Sentiment: Analysis suggests the Armis acquisition strengthens ServiceNow’s core platform and could expand enterprise security/use-case cross-sell—supportive for longer-term revenue expansion. ServiceNow’s Deal May Be Bigger Than It Looks
- Neutral Sentiment: CEO McDermott is publicly re-shaping ServiceNow’s business model around AI execution (the “control tower” concept). This signals strategic direction but execution and monetization timelines remain the key uncertainties. ServiceNow CEO Builds New Business Model Around AI
- Neutral Sentiment: Coverage pieces note ServiceNow among AI/enterprise leaders that could outperform broader markets if AI tailwinds persist; these are thematic endorsements rather than near-term catalysts. Tech Sell-Off: Wall Street Sees 60% or More Upside for These S&P 500 Stocks
- Neutral Sentiment: Corporate hiring/leadership moves in India (new MD/GVP) are incremental operational items that support regional growth but are unlikely to move the stock by themselves. ServiceNow appoints Kulmeet Bawa as MD and group VP for the India, SAARC
- Negative Sentiment: Stifel cut its price target from $180 to $135, citing weaker U.S. federal spending and softer Q1 trends—this is the primary near-term negative driver because it directly lowers sell‑side expectations and frames public-sector demand risk. ServiceNow’s price target set lower by Stifel due to weaker federal spending
- Negative Sentiment: The stock has seen a substantial multi-month decline and recent daily drops, reinforcing momentum-driven selling and making it vulnerable to further cuts or rotation out of high-multiple software names. ServiceNow (NOW) Stock Declines While Market Improves: Some Information for Investors
Insider Activity
In related news, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the transaction, the insider owned 8,061 shares of the company’s stock, valued at $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the sale, the director directly owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 16,237 shares of company stock valued at $1,697,162. Insiders own 0.34% of the company’s stock.
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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