First Merchants Corp Has $7.02 Million Position in ServiceNow, Inc. $NOW

First Merchants Corp boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 413.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,824 shares of the information technology services provider’s stock after buying an additional 36,895 shares during the quarter. First Merchants Corp’s holdings in ServiceNow were worth $7,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NOW. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 20,210,924 shares of the information technology services provider’s stock valued at $18,599,709,000 after buying an additional 315,861 shares during the period. State Street Corp lifted its stake in shares of ServiceNow by 1.4% during the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock valued at $8,700,970,000 after acquiring an additional 131,080 shares during the period. Nordea Investment Management AB boosted its holdings in ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock valued at $720,325,000 after acquiring an additional 3,743,087 shares during the last quarter. Norges Bank bought a new position in ServiceNow in the second quarter valued at about $2,589,235,000. Finally, Wellington Management Group LLP increased its position in ServiceNow by 5.4% in the third quarter. Wellington Management Group LLP now owns 2,287,300 shares of the information technology services provider’s stock worth $2,104,956,000 after purchasing an additional 118,060 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of ServiceNow stock in a transaction 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 directly owned 26,314 shares in the company, valued at approximately $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,237 shares of company stock valued at $1,697,162. Corporate insiders own 0.34% of the company’s stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Analysts note continued subscription revenue growth (about 21%) and rising AI adoption, supporting durable backlog and high retention — a fundamental reason to view NOW as long‑term momentum. NOW’s Subscription Growth Continues
• Positive Sentiment: Vonage launched a native integration with ServiceNow Voice, embedding enterprise voice + real‑time AI into CSM/ITSM workflows — expands the ServiceNow ecosystem and strengthens its AI platform use cases. Vonage and ServiceNow Expand their Partnership
• Positive Sentiment: Zenity announced a partnership with ServiceNow to operationalize AI agent risk reduction in SecOps, highlighting demand for agent‑safety tooling on the ServiceNow platform. Zenity Announces Partnership With ServiceNow
• Positive Sentiment: Case deployments (e.g., Coforge adopting ServiceNow’s AI‑led HR platform) and manager commentary (Montaka) argue ServiceNow retains a long‑term competitive edge despite short‑term AI‑related noise. Coforge deploys ServiceNow’s AI‑led HR platform
• Positive Sentiment: Company actions and capital allocation (board‑authorized buybacks, cited in recent coverage) signal management confidence and provide a floor for valuation over time. ServiceNow slides 4.5% as investors reprice SaaS
• Neutral Sentiment: Institutional activity and analyst target dispersion remain high (many buy ratings but a wide range of price targets), which increases volatility but is not a clear directional catalyst. Institutional Activity Rises in Russell 1000
• Negative Sentiment: Market reaction to new AI products (notably Anthropic’s agent capabilities) triggered a sectorwide sell‑off that hit ServiceNow as investors reassess whether AI agents could disrupt workflow‑software defensibility. Why ServiceNow Stock Was Drifting Lower Today
• Negative Sentiment: Prominent market voices (Jim Cramer) warned of more near‑term turbulence for NOW, amplifying short‑term selling pressure. Jim Cramer on ServiceNow
• Negative Sentiment: Coverage and headlines noting post‑earnings skepticism and valuation repricing (multiple outlets) have driven price‑target resets and momentum selling. Here’s Why ServiceNow Fell

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $180.00 price objective on ServiceNow in a report on Thursday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of ServiceNow in a research report on Thursday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $155.00 price target on shares of ServiceNow in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a report on Thursday, January 22nd. Finally, Citigroup raised their price objective on shares of ServiceNow from $235.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.61.

ServiceNow Price Performance

ServiceNow stock opened at $102.99 on Thursday. 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 firm has a market capitalization of $107.73 billion, a P/E ratio of 61.74, a PEG ratio of 1.77 and a beta of 0.99. The business has a 50-day moving average of $113.99 and a 200-day moving average of $151.23. ServiceNow, Inc. has a 1 year low of $98.00 and a 1 year 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 business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the company posted $0.73 EPS. ServiceNow’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

About ServiceNow

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.