Covea Finance Boosts Stake in ServiceNow, Inc. $NOW

Covea Finance boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 379.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 233,100 shares of the information technology services provider’s stock after purchasing an additional 184,480 shares during the period. ServiceNow comprises approximately 1.2% of Covea Finance’s portfolio, making the stock its 25th largest position. Covea Finance’s holdings in ServiceNow were worth $35,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Kilter Group LLC purchased a new position in shares of ServiceNow during the second quarter worth $25,000. IAG Wealth Partners LLC boosted its holdings in ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 18 shares during the period. Total Investment Management Inc. acquired a new position in ServiceNow in the 2nd quarter valued at about $31,000. Bogart Wealth LLC grew its position in ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 15 shares in the last quarter. Finally, Wealth Watch Advisors INC purchased a new stake in ServiceNow during the third quarter worth about $29,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analyst upgrade and new AI partnerships lift outlook — an upgrade to Outperform and announcements of AI partnerships that broaden sales channels and address AI reliability have given investors a clearer growth/valuation story and helped spark buying interest. A Look At ServiceNow (NOW) Valuation After Analyst Upgrade And New AI Partnerships
• Positive Sentiment: Recent fundamentals support the recovery case — ServiceNow beat Q4 consensus on EPS and revenue, with revenue up ~20.7% year-over-year and improving margins, giving analysts data to justify upgraded ratings and reinforcing the growth narrative. (Earnings release: Jan. 28)
• Positive Sentiment: Product-market tailwinds from AI in ITSM — coverage of the top AI features for ITSM highlights demand for automation, observability and GenAI features that align with ServiceNow’s product strategy, supporting longer-term revenue opportunities if execution continues. Want to improve ITSM workflows and efficiencies? Here are the top 5 AI features to look for
• Neutral Sentiment: Local talent pipeline news is incrementally relevant — a county IT training expansion (Loudoun) could modestly help the regional talent pool for ITSM deployments but is not a direct revenue driver for NOW. Loudoun Learners Complete First Year, County Looks to Expand IT Training Program
• Neutral Sentiment: Increased attention but mixed sentiment — retail and analyst coverage (Zacks, other trending pieces) shows higher interest in NOW shares, but recent returns have been volatile, so elevated attention can amplify moves in either direction. ServiceNow, Inc. (NOW) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Competitive/AI risk callouts are a headwind — commentary from a Cohesity executive arguing AI can erode revenues at vendors like ServiceNow and Splunk underscores a real risk: customers can shift to new AI-enabled tooling or lower-cost automation, pressuring growth and multiples if ServiceNow’s product differentiation weakens. Cohesity CIO Shows How AI Can Eat Into Revenues of ServiceNow, Splunk

Insider Transactions at ServiceNow

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider 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 filing with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. This represents a 3.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,237 shares of company stock worth $1,697,162. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. TD Cowen lowered 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. KeyCorp cut their target price on shares of ServiceNow from $155.00 to $115.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. The Goldman Sachs Group set a $216.00 target price on shares of ServiceNow in a report on Monday, February 2nd. BTIG Research reissued a “buy” rating and issued a $200.00 price target on shares of ServiceNow in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada dropped their price target on shares of ServiceNow from $185.00 to $150.00 and set an “outperform” rating for the company in a research note on Monday, February 9th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.61.

ServiceNow Trading Down 2.5%

Shares of ServiceNow stock opened at $110.39 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $115.92 and a 200-day simple moving average of $153.03. The stock has a market cap of $115.46 billion, a price-to-earnings ratio of 66.18, a PEG ratio of 1.92 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $98.00 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the company earned $0.73 earnings per share. ServiceNow’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.