Covenant Asset Management LLC Boosts Position in ServiceNow, Inc. $NOW

Covenant Asset Management LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW – Free Report) by 169.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,863 shares of the information technology services provider’s stock after acquiring an additional 13,114 shares during the period. Covenant Asset Management LLC’s holdings in ServiceNow were worth $3,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. American Capital Advisory LLC increased its holdings in ServiceNow by 413.0% in the 4th quarter. American Capital Advisory LLC now owns 277 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 223 shares in the last quarter. Archer Investment Corp boosted its position in shares of ServiceNow by 581.8% in the fourth quarter. Archer Investment Corp now owns 300 shares of the information technology services provider’s stock worth $46,000 after buying an additional 256 shares during the period. Caldwell Trust Co boosted its position in shares of ServiceNow by 461.5% in the fourth quarter. Caldwell Trust Co now owns 3,004 shares of the information technology services provider’s stock worth $460,000 after buying an additional 2,469 shares during the period. Vest Financial LLC grew its stake in shares of ServiceNow by 532.5% in the fourth quarter. Vest Financial LLC now owns 23,226 shares of the information technology services provider’s stock valued at $3,558,000 after buying an additional 19,554 shares in the last quarter. Finally, Strategic Blueprint LLC grew its stake in shares of ServiceNow by 339.3% in the fourth quarter. Strategic Blueprint LLC now owns 1,955 shares of the information technology services provider’s stock valued at $299,000 after buying an additional 1,510 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price target on ServiceNow from $150.00 to $121.00 and set an “outperform” rating for the company in a report on Monday, April 13th. BNP Paribas Exane raised shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Monday, March 16th. DA Davidson decreased their target price on shares of ServiceNow from $220.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, Citigroup dropped their price target on shares of ServiceNow from $177.00 to $154.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.65.

View Our Latest Stock Analysis on NOW

ServiceNow Stock Performance

NOW opened at $90.53 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $104.21 and its 200-day moving average is $135.92. The stock has a market cap of $93.33 billion, a PE ratio of 53.95, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 2.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul Fipps sold 9,641 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the sale, the insider owned 11,757 shares of the company’s stock, valued at $1,245,419.01. This represents a 45.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the transaction, the insider directly owned 26,314 shares in the company, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 25,164 shares of company stock worth $2,497,021. 0.34% of the stock is owned by company insiders.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is scaling real-world, agentic AI deployments (example: TridentCare) and announced deeper AI collaboration with Google Cloud across telecom, retail and ITSM — a sign of enterprise adoption that supports sustained subscription upsells and larger deals. ServiceNow AI Partnerships Test Workflow Stickiness As Shares Slide
• Positive Sentiment: Quarterly results showed solid subscription momentum (roughly 22% subscription growth) and management raised FY2026 outlook, driven by AI monetization and pricing shifts — evidence the business model is still expanding. NOW’s AI-Driven Subscription Growth Accelerates
• Positive Sentiment: Several analysts and commentators view the post‑earnings sell-off as overdone and are calling NOW a buying opportunity (buy-the-dip / double-bottom theses), citing durable subscription economics and FCF that support M&A and buybacks. ServiceNow: Buy This Double Bottom
• Neutral Sentiment: ISG and ecosystem updates show consulting partners (Genpact, Zaelab) and U.S. firms are standardizing ServiceNow as a governed AI/workflow platform — positive for long-term adoption but incremental near-term revenue. U.S. Firms Boost ServiceNow’s Impact with AI, Transparency
• Neutral Sentiment: New partner integrations (Simplify Alpha in healthcare; European strategies focused on AI sovereignty) expand addressable market and regulatory fit but are execution‑dependent. Simplify Alpha Partners With ServiceNow
• Negative Sentiment: Shares have plunged year‑to‑date and reacted harshly after earnings despite the beat and raised guidance; valuation compression and investor rotation into pure-play AI winners are pressuring NOW. ServiceNow AI Partnerships Test Workflow Stickiness As Shares Slide
• Negative Sentiment: Insider selling disclosed: Jacqueline P. Canney sold ~8,927 shares at ~$89.60, which may add short-term sentiment pressure. Insider SEC Filing