Intrust Bank NA Purchases 6,961 Shares of ServiceNow, Inc. $NOW

Intrust Bank NA increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 402.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,692 shares of the information technology services provider’s stock after purchasing an additional 6,961 shares during the period. Intrust Bank NA’s holdings in ServiceNow were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NOW. Vanguard Group Inc. lifted its holdings in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. Jennison Associates LLC lifted its holdings in ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares during the last quarter. Nordea Investment Management AB lifted its holdings in 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 purchasing an additional 3,743,087 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in ServiceNow by 613.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock worth $588,326,000 after purchasing an additional 3,301,962 shares during the last quarter. Finally, Swedbank AB lifted its holdings in ServiceNow by 326.9% during the 4th quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider’s stock worth $523,243,000 after purchasing an additional 2,615,500 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on NOW shares. Citigroup lifted their price objective on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Canaccord Genuity Group dropped their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. BTIG Research reaffirmed a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a report on Monday, May 4th. Oppenheimer set a $130.00 price objective on ServiceNow and gave the company an “outperform” rating in a report on Wednesday, April 15th. Finally, Mizuho dropped their price objective on ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $141.89.

Insiders Place Their Bets

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction 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 sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 31,767 shares of company stock worth $2,906,098. 0.34% of the stock is currently owned by company insiders.

ServiceNow Trading Up 1.3%

Shares of NOW opened at $103.13 on Thursday. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The business’s fifty day moving average is $99.35 and its 200-day moving average is $126.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $106.33 billion, a price-to-earnings ratio of 61.46, a PEG ratio of 1.85 and a beta of 0.82.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating and a $130 target, calling it an AI winner in the emerging agentic AI era. BofA Reinstates Coverage of ServiceNow, Salesforce. It Says 1 Is an AI Beneficiary.
• Positive Sentiment: Several articles said Wall Street is warming to ServiceNow because its workflow software could serve as a control layer for AI agents, easing fears that AI will replace its business. Wall Street Is Warming Up to ServiceNow Stock. That’s Because It’s Now a Bet on Agentic AI.
• Positive Sentiment: Analysts and commentators highlighted that the recent selloff may have been overdone, with ServiceNow’s valuation looking more attractive after a sharp yearlong decline. Assessing ServiceNow (NOW) Valuation After A Year Of Sharp Share Price Declines
• Positive Sentiment: Media and analyst pieces also framed the stock’s rebound as part of a broader rotation back into software names, with ServiceNow singled out as one of the sector leaders. ServiceNow and Snowflake Stocks Trade Up, What You Need To Know
• Neutral Sentiment: Some reports noted that the stock has fallen sharply over the past year despite revenue and profit growth, so investors are still weighing strong fundamentals against a still-extended valuation. After a 50% Drop, Is ServiceNow Stock Worth Buying?
• Negative Sentiment: There are still lingering concerns that AI disruption could pressure traditional enterprise software, and some commentary warned the recent bounce could fade if those fears return. ServiceNow stock flashes a death cross amid rising SaaSpocalypse concerns

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.