Sequoia Financial Advisors LLC Buys 29,380 Shares of ServiceNow, Inc. $NOW

Sequoia Financial Advisors LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 450.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,909 shares of the information technology services provider’s stock after acquiring an additional 29,380 shares during the period. Sequoia Financial Advisors LLC’s holdings in ServiceNow were worth $5,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of NOW. Brighton Jones LLC boosted its holdings in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the period. Sivia Capital Partners LLC boosted its holdings in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 34 shares during the period. United Bank boosted its holdings in ServiceNow by 15.5% in the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in ServiceNow by 2.2% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares during the period. Finally, Nebula Research & Development LLC boosted its holdings in ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares during the period. 87.18% of the stock is owned by institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a partnership with Accenture to deliver agentic AI at enterprise scale, reinforcing its role as a core platform for enterprise AI workflows and potentially expanding adoption. ServiceNow, Accenture partner to deliver agentic AI at enterprise scale
• Positive Sentiment: Management is pushing a long-term growth narrative, saying AI can accelerate ServiceNow’s business and projecting more than $30 billion in subscription revenue by 2030, which helped lift sentiment around the stock. ServiceNow Targets $30 Billion As AI Revenue Story Accelerates
• Positive Sentiment: Several analyst notes were supportive, including higher price targets and reiterated Buy/Outperform ratings, signaling that Wall Street still sees upside despite the selloff. Capital One Financial Increases ServiceNow (NYSE:NOW) Price Target to $120.00
• Positive Sentiment: There was also unusual call-option buying, suggesting some traders are positioning for a rebound.
• Neutral Sentiment: ServiceNow continued to generate attention around its AI control and governance strategy, including collaborations with NVIDIA and Microsoft, which may support the long-term platform story but do not yet change near-term fundamentals. ServiceNow And NVIDIA Project Arc Puts AI Agents At Center Stage
• Negative Sentiment: Bearish coverage focused on rising competition from agentic AI and argued that ServiceNow’s challenges predate the AI hype, adding to concerns that the stock may have more downside if growth expectations reset. ServiceNow Had Problems Long Before Agentic AI. Here’s Why.
• Negative Sentiment: Investors also appear worried about the broader “Saaspocalypse” narrative, with commentary highlighting the scale of the stock’s recent decline and questions about whether AI will truly offset pressure on legacy software models. Why CEO Bill McDermott says ServiceNow’s 39% stock crash is Saaspocalypse ‘nonsense’ and why AI will make it a trillion-dollar company

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Cantor Fitzgerald reduced their price target on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Mizuho dropped their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. HSBC decreased their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Capital One Financial upped their target price on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Piper Sandler lowered their target price on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $144.71.

ServiceNow Stock Down 2.6%

NOW opened at $91.14 on Friday. The firm’s 50-day simple moving average is $102.80 and its 200-day simple moving average is $132.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The firm has a market cap of $93.96 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 1.66 and a beta of 0.82.

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

Insiders Place Their Bets

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the sale, the insider directly owned 26,314 shares of the company’s stock, 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 this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 25,164 shares of company stock valued at $2,497,021. Company 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.