M&T Bank Corp Increases Stake in ServiceNow, Inc. $NOW

M&T Bank Corp boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 381.8% in the 4th quarter, Holdings Channel reports. The fund owned 184,908 shares of the information technology services provider’s stock after buying an additional 146,533 shares during the period. M&T Bank Corp’s holdings in ServiceNow were worth $28,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. IAG Wealth Partners LLC raised its position in ServiceNow by 200.0% during the third 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 in the last quarter. Bogart Wealth LLC grew its holdings in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 15 shares during the period. Wealth Watch Advisors INC acquired a new stake in ServiceNow in the third quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in ServiceNow by 52.0% in the third quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Texas Capital Bancshares Inc TX acquired a new stake in ServiceNow in the third quarter valued at approximately $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow laid out a plan to double subscription revenue to ~$30B by 2030 and said its Now Assist product has passed ~$750M in annual contract value — a clear signal management expects AI-driven subscription growth. ServiceNow lays out path to $30 billion in annual subscription revenue as AI bets accelerate
• Positive Sentiment: Investors are positioning ahead of Analyst Day and cheered a multi?year DXC agreement that frames DXC as an early adopter for ServiceNow’s agentic AI capabilities — supports expectations for enterprise AI deployments. ServiceNow shares rise as investors focus on Analyst Day and fresh enterprise AI partnership momentum
• Positive Sentiment: BTIG reaffirmed a Buy rating with a $150 target and high?profile supporters (e.g., positive comments from Jim Cramer) are helping sentiment around management’s ability to “put on a show” at Analyst Day. Jim Cramer on ServiceNow: “I Am Sure That Bill McDermott Will Put on a Good Show”
• Neutral Sentiment: Analyst/press previews say Investor Day will focus on AI product innovation and pricing (BNP) and the company continues embedding AI across the platform (Context Engine) — these are execution items investors want to see validated during presentations. ServiceNow’s investor day likely to focus on AI product innovation, pricing: BNP ServiceNow embeds AI across all products with Context Engine
• Negative Sentiment: Wolfe Research cut its price objective from $175 to $125 (but kept an Outperform rating), reflecting concerns about delayed on?prem deals and more conservative near?term guidance — this reduces upside expectations for some investors. Wolfe Research Lowers PT on ServiceNow (NOW) stock
• Negative Sentiment: Residual selling pressure from April — driven by sectorwide “AI displacement” fears and margin compression despite meeting Q1 numbers — still clouds sentiment and explains why some investors remain cautious. Why ServiceNow Stock Fell 16% in April

Analysts Set New Price Targets

Several analysts have commented on the company. Mizuho dropped their price objective on ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Cantor Fitzgerald dropped their price objective on ServiceNow to $122.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. The Goldman Sachs Group dropped their price objective on ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. FBN Securities dropped their price objective on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Finally, UBS Group set a $150.00 price objective on ServiceNow in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.87.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $91.92 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day moving average price is $103.45 and its 200-day moving average price is $134.58. The firm has a market capitalization of $94.77 billion, a PE ratio of 54.78, a P/E/G ratio of 1.61 and a beta of 0.82. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results 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 firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. As a group, equities research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the sale, the insider owned 8,061 shares in the company, valued at approximately $820,367.97. This represents a 31.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction 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. The trade was a 3.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 25,164 shares of company stock worth $2,497,021 in the last quarter. Insiders own 0.34% of the company’s stock.

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.