Sterling Capital Management LLC Acquires 44,317 Shares of ServiceNow, Inc. $NOW

Sterling Capital Management LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 95.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,750 shares of the information technology services provider’s stock after acquiring an additional 44,317 shares during the period. Sterling Capital Management LLC’s holdings in ServiceNow were worth $9,488,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Beaumont Asset Management L.L.C. lifted its stake in shares of ServiceNow by 5.7% in the 1st quarter. Beaumont Asset Management L.L.C. now owns 15,197 shares of the information technology services provider’s stock valued at $1,589,000 after purchasing an additional 816 shares during the last quarter. Cambient Family Office LLC raised its holdings in ServiceNow by 22.3% during the 1st quarter. Cambient Family Office LLC now owns 2,298 shares of the information technology services provider’s stock valued at $240,000 after buying an additional 419 shares during the period. Rooted Wealth Advisors Inc. bought a new stake in ServiceNow in the first quarter worth $326,000. Signature Wealth Management Partners LLC boosted its stake in ServiceNow by 27.7% during the first quarter. Signature Wealth Management Partners LLC now owns 5,870 shares of the information technology services provider’s stock worth $614,000 after buying an additional 1,275 shares during the period. Finally, Granite Islands Private Wealth LLC increased its position in ServiceNow by 3.6% during the first quarter. Granite Islands Private Wealth LLC now owns 13,507 shares of the information technology services provider’s stock valued at $1,402,000 after acquiring an additional 467 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 10.2%

Shares of NOW opened at $98.64 on Friday. The firm has a market capitalization of $101.70 billion, a price-to-earnings ratio of 58.79, a PEG ratio of 1.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company has a 50-day moving average of $100.10 and a 200 day moving average of $115.27.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. On average, research analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current year.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Piper Sandler reduced 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. Canaccord Genuity Group cut their price target on shares of ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. UBS Group restated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. Finally, BTIG Research reaffirmed a “buy” rating and set a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $142.17.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a market rotation into software, with the stock trading near the top of the S&P 500 alongside peers like Workday and AppLovin as investors favor software over chips. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Positive Sentiment: Oppenheimer reiterated an Outperform rating and $130 price target, citing AI growth and ServiceNow’s partnership with Cognizant, which supports expectations for a second-half 2026 reacceleration. Oppenheimer Reaffirms Bullish Outlook on ServiceNow (NOW) Amid AI Growth and Cognizant Partnership
• Positive Sentiment: Recent commentary argues ServiceNow remains a high-quality business trading at a discount, reinforcing the bullish valuation case if growth stays steady. ServiceNow: An Excellent Business Trading at a Discount
• Neutral Sentiment: Industry coverage and comparisons versus Salesforce highlight that ServiceNow’s revenue growth has been more consistent, but the articles are mostly informational rather than a direct catalyst. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?
• Neutral Sentiment: HCLTech’s expanded work with Google Cloud and ServiceNow on AI agents adds ecosystem momentum, but it is not a direct financial update for NOW. HCLTech unveils AI agents on Gemini Enterprise with Google Cloud, ServiceNow
• Negative Sentiment: The recent pullback in tech and AI stocks, especially semiconductors, has kept valuation pressure on the broader sector and likely contributed to recent volatility in ServiceNow shares. Palantir Joins Software Stock Rally Amid Semiconductor, Tech Sell-Off

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s 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 $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 over the last three months. 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.