State Street Corp Grows Position in ServiceNow, Inc. $NOW

State Street Corp increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 406.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,896,597 shares of the information technology services provider’s stock after acquiring an additional 38,441,898 shares during the quarter. State Street Corp’s holdings in ServiceNow were worth $7,337,280,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of ServiceNow during the fourth quarter valued at about $2,020,992,000. Cohen Klingenstein LLC lifted its position in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after buying an additional 8,000 shares during the last quarter. World Investment Advisors lifted its position in shares of ServiceNow by 411.7% during the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,218,000 after buying an additional 38,583 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after buying an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after buying an additional 2,064,440 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% 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, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last 90 days. 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: ServiceNow lifted its 2026 AI revenue target to $1.5 billion, signaling that demand for Now Assist is strong and that customers are expanding AI deployments and spending more on the platform. Can Strong Demand in Now Assist Boost ServiceNow’s AI Revenue Growth?
• Positive Sentiment: IBM and ServiceNow announced a partnership aimed at helping enterprises modernize legacy IT systems and scale agentic AI, which could support longer-term adoption of ServiceNow’s workflow automation and AI tools. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: Analysts and commentators highlighted ServiceNow as a potential AI winner in the second half of 2026, reinforcing the market’s view that the company could benefit from rising enterprise AI spending. The AI Trade Nobody Is Making Right Now — and Why It Could Be 2026’s Best Opportunity
• Neutral Sentiment: ServiceNow and IBM also drew attention for targeting legacy IT modernization, but the immediate impact on the stock is likely more strategic than near-term financial. ServiceNow, IBM team up to target legacy IT
• Negative Sentiment: The stock has also been under pressure from profit-taking and a broader selloff in software names, which has weighed on sentiment despite the company’s AI growth narrative. What’s Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Reports of additional Bay Area tech job cuts added to concerns about the broader enterprise software and technology labor backdrop, though this is not specific to ServiceNow’s core results. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $102.34 on Friday. The firm has a market capitalization of $105.51 billion, a P/E ratio of 60.99, a PEG ratio of 1.70 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $99.80 and a 200 day moving average price of $120.05. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48.

ServiceNow (NYSE:NOW) last issued 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. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company earned $0.81 EPS. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on NOW. JPMorgan Chase & Co. decreased their price target on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Truist Financial decreased their price objective on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an “underweight” rating in a research report on Thursday, April 23rd. Cantor Fitzgerald decreased their price objective on shares of ServiceNow to $122.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Finally, Robert W. Baird decreased their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

ServiceNow 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.