DAVENPORT & Co LLC Has $89.52 Million Stock Position in ServiceNow, Inc. $NOW

DAVENPORT & Co LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 408.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,433 shares of the information technology services provider’s stock after purchasing an additional 468,581 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.06% of ServiceNow worth $89,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NOW. Brighton Jones LLC increased its position in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of 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 acquiring an additional 34 shares in the last quarter. United Bank lifted its position in shares of 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 acquiring an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake 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 worth $1,976,000 after purchasing an additional 42 shares during the period. Finally, Champlain Investment Partners LLC acquired a new position in ServiceNow in the 2nd quarter worth approximately $308,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New & expanded partnerships and customer deployments reinforce platform adoption — Vonage expanded its native integration with ServiceNow Voice for CSM/ITSM and Zenity announced a partnership around AI‑agent security; Coforge and Novaworks are deploying/launching agentic HR solutions on the ServiceNow platform. Vonage partnership Zenity partnership Novaworks/Coforge
• Positive Sentiment: Capital return and analyst support provide a cushion — management authorized an additional ~$5B repurchase program and several firms remain bullish (e.g., Citizens reaffirmed an outperform view and high price targets), which can support valuation over time. Buyback & analysis Citizens bullish
• Neutral Sentiment: Analyst and institutional activity is high and mixed — a wide range of price targets and both buys/sells by large institutions increase day‑to‑day volatility but reflect divergent long‑term views. Analyst & institutional activity
• Negative Sentiment: Sector‑wide AI agent anxiety and a fresh product launch from Anthropic pressured software names — investors are asking whether AI agents reduce workflow software moats, prompting simultaneous selloffs in ServiceNow and peers like Salesforce. Anthropic/sector impact NOW & CRM selloff
• Negative Sentiment: Post‑earnings skepticism and valuation repricing — after recent results and guidance, investors continue to debate growth durability versus AI competition, leading to multiple price‑target revisions and near‑term multiple compression. Zacks explanation

Insiders Place Their Bets

In other news, insider Paul Fipps sold 9,641 shares of ServiceNow stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the completion of the sale, the insider directly owned 11,757 shares in the company, valued at $1,245,419.01. The trade was a 45.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the transaction, the director owned 46,430 shares in the company, valued at $4,697,323.10. This represents a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,237 shares of company stock valued at $1,697,162 in the last three months. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent analyst reports. Guggenheim raised shares of ServiceNow from a “sell” rating to a “neutral” rating in a research note on Tuesday, December 16th. Arete Research set a $200.00 target price on ServiceNow in a research report on Tuesday, January 6th. Capital One Financial lowered their price target on ServiceNow from $188.00 to $161.00 and set an “overweight” rating on the stock in a report on Friday, January 16th. Piper Sandler reissued an “overweight” rating on shares of ServiceNow in a research report on Thursday, January 29th. Finally, Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.61.

ServiceNow Trading Down 5.9%

Shares of NYSE:NOW opened at $104.40 on Wednesday. The firm has a fifty day moving average of $114.62 and a two-hundred day moving average of $151.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. ServiceNow, Inc. has a 12-month low of $98.00 and a 12-month high of $211.48. The firm has a market capitalization of $109.20 billion, a P/E ratio of 62.59, a price-to-earnings-growth ratio of 1.88 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping 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 business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the business posted $0.73 earnings per share. ServiceNow’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts expect 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.