Bowen Hanes & Co. Inc. Raises Holdings in ServiceNow, Inc. $NOW

Key Points

• Bowen Hanes & Co. Inc. increased its ServiceNow stake by 384.7% in the fourth quarter, ending with 14,250 shares valued at about $2.18 million.
• Other institutional investors also sharply boosted holdings, and hedge funds and institutions now own 87.18% of ServiceNow’s stock, indicating strong professional investor interest.
• Despite recent insider selling and a 7.7% drop in the share price to $117.86, analysts remain largely constructive, with ServiceNow carrying a Moderate Buy consensus and an average target price of $141.85.

Bowen Hanes & Co. Inc. grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 384.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,250 shares of the information technology services provider's stock after purchasing an additional 11,310 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in ServiceNow were worth $2,183,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Private Wealth Asset Management LLC boosted its stake in shares of ServiceNow by 323.8% during the fourth quarter. Private Wealth Asset Management LLC now owns 945 shares of the information technology services provider's stock worth $145,000 after buying an additional 722 shares during the period. Elgethun Capital Management boosted its stake in shares of ServiceNow by 400.0% during the fourth quarter. Elgethun Capital Management now owns 4,150 shares of the information technology services provider's stock worth $636,000 after buying an additional 3,320 shares during the period. WCG Wealth Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $4,177,000. Nvest Financial LLC boosted its stake in shares of ServiceNow by 508.0% during the fourth quarter. Nvest Financial LLC now owns 2,365 shares of the information technology services provider's stock worth $362,000 after buying an additional 1,976 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of ServiceNow by 563.5% during the fourth quarter. CIBC Asset Management Inc now owns 290,094 shares of the information technology services provider's stock worth $44,440,000 after buying an additional 246,371 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the sale, the insider directly owned 29,531 shares of the company's stock, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,071 shares of company stock worth $2,529,956 over the last ninety days. Company insiders own 0.34% of the company's stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow highlighted its AI and workflow automation story in two conference appearances at the Bank of America 2026 Global Technology Conference and the William Blair Growth Stock Conference, reinforcing the company’s growth narrative and product momentum. ServiceNow, Inc. (NOW) Presents at Bank of America 2026 Global Technology Conference Transcript
• Positive Sentiment: A MarketBeat piece argued that AI spending is benefiting ServiceNow as part of a broader “nuts and bolts” enterprise AI buildout, which supports the bull case for the stock. Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow (NOW)
• Positive Sentiment: Several recent articles framed ServiceNow as an attractive AI leader trading at a discount or as a stock the market may be underestimating, which could encourage dip-buying. ServiceNow: The Ultimate AI Control Tower Trading At A Discount
• Positive Sentiment: ServiceNow announced a $2.5 million grant to City Year to expand student success and AI-enabled operations, adding to the company’s reputation for strategic AI investment and community partnerships. City Year Receives $2.5M Grant from ServiceNow to Power Student Success and Build Future-Ready Talent Pipelines
• Positive Sentiment: The company deepened its Everbridge xMatters partnership to enhance AI-driven incident response and workflow orchestration, a move that may support future enterprise demand. ServiceNow Deepens Everbridge xMatters AI Ties In Critical Workflows
• Neutral Sentiment: Several new articles compared ServiceNow with peers like Salesforce, Palantir, and Intuit, keeping the stock in focus but not adding a clear new catalyst by themselves. Salesforce vs. ServiceNow: 1 AI Giant Is Leaving the Other Behind
• Negative Sentiment: ServiceNow also appeared in a wave of bearish commentary questioning SaaS valuations and arguing the stock may be less appealing after its sharp run-up, which can weigh on sentiment. ServiceNow: The More I Look, The Less Appealing It Feels
• Negative Sentiment: A broader software-sector selloff tied to AI uncertainty also hurt sentiment toward ServiceNow and other enterprise software names. Software stocks whipsaw amid AI fears, as Anthropic IPO looms

Analyst Ratings Changes

Several brokerages have recently weighed in on NOW. The Goldman Sachs Group decreased their target price on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Jefferies Financial Group reiterated a "buy" rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Piper Sandler decreased their target price on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Mizuho decreased their target price on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Finally, Bank of America began coverage on shares of ServiceNow in a research note on Monday, May 18th. They set a "buy" rating and a $130.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $141.85.

ServiceNow Trading Down 7.7%

Shares of ServiceNow stock opened at $117.86 on Thursday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $121.51 billion, a PE ratio of 70.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94. The company has a 50-day moving average of $98.99 and a two-hundred day moving average of $122.45.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.75 billion. During the same period last year, the company posted $0.81 earnings per share. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts anticipate that ServiceNow, Inc. will post 2.35 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.

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