DAVENPORT & Co LLC Acquires 468,581 Shares of ServiceNow, Inc. $NOW

DAVENPORT & Co LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 408.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 583,433 shares of the information technology services provider’s stock after purchasing an additional 468,581 shares during the period. DAVENPORT & Co LLC’s holdings in ServiceNow were worth $89,523,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of 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 worth $18,599,709,000 after buying an additional 315,861 shares during the last quarter. State Street Corp increased its holdings in shares of ServiceNow by 1.4% during 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 increased its holdings 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 valued at $720,325,000 after acquiring an additional 3,743,087 shares during the last quarter. Norges Bank bought a new position in shares of ServiceNow in the 2nd quarter valued at approximately $2,589,235,000. Finally, Wellington Management Group LLP lifted its holdings in ServiceNow by 5.4% in 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 purchasing an additional 118,060 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and set a $175.00 target price (down from $225.00) on shares of ServiceNow in a research report on Thursday, January 29th. Royal Bank Of Canada dropped their price target on shares of ServiceNow from $185.00 to $150.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. TD Cowen reduced their price objective on shares of ServiceNow from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Robert W. Baird set a $175.00 target price on shares of ServiceNow in a research note on Thursday, January 29th. Finally, Piper Sandler reiterated an “overweight” rating on shares of ServiceNow in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.61.

ServiceNow Stock Down 5.9%

Shares of NOW stock opened at $104.40 on Wednesday. ServiceNow, Inc. has a 12 month low of $98.00 and a 12 month high of $211.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $109.20 billion, a PE ratio of 62.59, a price-to-earnings-growth ratio of 1.88 and a beta of 0.99. The stock has a 50 day moving average of $114.62 and a 200-day moving average of $151.57.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company posted $0.73 earnings per share. ServiceNow’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the transaction, the director directly owned 46,430 shares of the company’s stock, valued at $4,697,323.10. This represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,237 shares of company stock worth $1,697,162 in the last ninety days. Insiders own 0.34% of the company’s stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New & expanded partnerships and customer deployments reinforce platform adoption — Vonage expanded its native integration with ServiceNow Voice for CSM/ITSM and Zenity announced a partnership around AI‑agent security; Coforge and Novaworks are deploying/launching agentic HR solutions on the ServiceNow platform. Vonage partnership Zenity partnership Novaworks/Coforge
• Positive Sentiment: Capital return and analyst support provide a cushion — management authorized an additional ~$5B repurchase program and several firms remain bullish (e.g., Citizens reaffirmed an outperform view and high price targets), which can support valuation over time. Buyback & analysis Citizens bullish
• Neutral Sentiment: Analyst and institutional activity is high and mixed — a wide range of price targets and both buys/sells by large institutions increase day‑to‑day volatility but reflect divergent long‑term views. Analyst & institutional activity
• Negative Sentiment: Sector‑wide AI agent anxiety and a fresh product launch from Anthropic pressured software names — investors are asking whether AI agents reduce workflow software moats, prompting simultaneous selloffs in ServiceNow and peers like Salesforce. Anthropic/sector impact NOW & CRM selloff
• Negative Sentiment: Post‑earnings skepticism and valuation repricing — after recent results and guidance, investors continue to debate growth durability versus AI competition, leading to multiple price‑target revisions and near‑term multiple compression. Zacks explanation

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.