ICICI Prudential Asset Management Co Ltd Purchases New Position in ServiceNow, Inc. $NOW

ICICI Prudential Asset Management Co Ltd bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 30,000 shares of the information technology services provider’s stock, valued at approximately $4,596,000.

A number of other institutional investors also recently modified their holdings of the business. Meridian Wealth Advisors LLC increased its holdings in shares of ServiceNow by 2.2% in the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after buying an additional 12 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock worth $1,169,000 after acquiring an additional 13 shares during the last quarter. JT Stratford LLC raised its position in shares of ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 13 shares during the period. Florida Financial Advisors LLC increased its stake in ServiceNow by 5.4% in the 2nd quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares in the last quarter. Finally, Cozad Asset Management Inc. raised its holdings in ServiceNow by 6.7% during the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock worth $205,000 after buying an additional 14 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NOW. Raymond James Financial decreased their price objective on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. BTIG Research reissued a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research report on Monday, May 4th. JPMorgan Chase & Co. lowered their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. FBN Securities cut their target price on shares of ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Finally, KeyCorp set a $85.00 price target on shares of ServiceNow and gave the company an “underweight” rating in a report on Thursday, April 23rd. One equities 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.85.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new partnership with IBM aimed at modernizing legacy IT systems and making enterprise data usable for agentic AI, which supports the company’s long-term AI growth narrative. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: ServiceNow also expanded its AI footprint through a partnership with Phenom to launch AI hiring agents, reinforcing demand for its workflow automation and AI tools. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, citing AI growth, pricing power, and a potential path to much higher revenue over time. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow was also highlighted as a possible AI winner by market commentators, suggesting investors still see it as one of the better-positioned software names in the AI trade. The AI Trade Nobody Is Making Right Now — and Why It Could Be 2026’s Best Opportunity
• Neutral Sentiment: ServiceNow is getting attention from traders and media as the stock remains volatile, with some technical commentary suggesting the recent pullback may be driven partly by profit-taking rather than a change in fundamentals. What’s Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Multiple reports said ServiceNow disclosed or patched a bug/API vulnerability that may have exposed customer data or allowed unauthorized access, raising cybersecurity and trust concerns. ServiceNow tells customers a bug left some of their data exposed to the internet
• Negative Sentiment: Commentary from Jim Cramer also pointed to ServiceNow’s premium valuation, which can make the stock more vulnerable when sentiment turns cautious. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: News about Bay Area job cuts across tech firms added to the cautious tone in the sector, reinforcing worries about a softer enterprise spending backdrop. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

ServiceNow Stock Down 2.9%

NOW stock opened at $103.03 on Friday. The stock has a market capitalization of $106.23 billion, a price-to-earnings ratio of 61.40, a price-to-earnings-growth ratio of 1.75 and a beta of 0.94. The company has a 50-day moving average of $99.84 and a two-hundred day moving average of $120.17. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. 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 (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

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.