ServiceNow, Inc. (NOW) Completes Moveworks Acquisition, Here’s What You Need to Know

ServiceNow, Inc. (NYSE:NOW) is one of the Best Quality Stocks to Buy Before 2026. On December 15, ServiceNow, Inc. (NYSE:NOW) announced the completion of the acquisition of Moveworks. ​

Moveworks is an AI assistant company specializing in enterprise search and conversational AI. Management noted that the deal combines the company’s backend strengths in agentic AI and intelligent workflows with Moveworks’ user-friendly frontend for natural language interactions, search, and reasoning. As a result, ServiceNow, Inc. (NYSE:NOW) has come up with a unified platform that serves as an “AI-native front door” for employees. ​

Management further added that the acquisition strategically aligns with the company’s goal to embed AI everywhere in business operations. ServiceNow, Inc. (NYSE:NOW) highlighted that they already handle complex tasks autonomously by using AI to resolve 90% of IT tickets and 89% of support requests. Moveworks adds a “Reasoning Engine” for smarter query handling and integrates with 100+ tools, trusted by giants like Siemens, Toyota, and Unilever.

That said, on December 19, Stifel lowered its price target on the stock from $1,150 to $230 and maintained a Buy rating. The reduced price target comes after the company announced a 5 for 1 stock split. The firm noted that the long-term prospects and fundamentals of the company remained unchanged, and the price target was adjusted to reflect the number of outstanding shares. ​

ServiceNow, Inc. (NYSE:NOW) is an American software and technology company. It provides an AI platform that helps organizations digitize, automate, and manage workflows for enterprise operations.

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Disclosure: None. This article is originally published at Insider Monkey.