Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Position in ServiceNow, Inc. $NOW

Key Points

• Fjarde AP Fonden boosted its ServiceNow stake by 67.4% in the first quarter, ending with 394,070 shares valued at about $41.2 million.
• Institutional ownership remains very high, with hedge funds and other investors owning 87.18% of ServiceNow’s stock. Several major firms, including Vanguard and State Street, also significantly increased their positions.
• Analysts remain generally positive on the stock: ServiceNow has a Moderate Buy consensus rating and an average price target of $141.68, though insider selling and valuation concerns continue to be watched.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 67.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 394,070 shares of the information technology services provider's stock after acquiring an additional 158,640 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in ServiceNow were worth $41,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of ServiceNow by 404.5% in the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares during the period. State Street Corp raised its stake in shares of ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock worth $4,962,692,000 after purchasing an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an "underweight" rating in a report on Thursday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $121.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Jefferies Financial Group reissued a "buy" rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Finally, Cantor Fitzgerald set a $130.00 target price on shares of ServiceNow in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus target price of $141.68.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 firm'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 owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.2%

Shares of NYSE:NOW opened at $106.06 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The business has a 50 day moving average of $100.47 and a two-hundred day moving average of $112.93. The company has a market capitalization of $109.34 billion, a PE ratio of 63.20, a PEG ratio of 1.76 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business's revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy from Neutral and set a $125 price target, arguing that fears about AI disruption have likely gone too far and that the stock now looks attractively valued after a steep selloff. Article title: ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Multiple follow-up reports said the upgrade helped lift ServiceNow shares, with Guggenheim’s view that recent weakness created a buying opportunity for software investors. Article title: Guggenheim Sees 45%+ Upside After Upgrading Salesforce, ServiceNow, Check Point
• Positive Sentiment: ServiceNow also announced a joint initiative with Accenture to modernize enterprise risk management using agentic AI, reinforcing the company’s positioning as an AI workflow and security platform rather than an AI casualty. Article title: Accenture (ACN), ServiceNow (NOW) Launch Joint Initiative to Modernize Enterprise Risk Management With Agentic AI
• Neutral Sentiment: Several analysts and commentary pieces noted that ServiceNow still trades at a premium valuation, so while growth and enterprise AI adoption remain supportive, investors are being reminded that the stock is not cheap. Article title: ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: ServiceNow said it will report second-quarter 2026 results on July 22, which keeps attention on whether growth and margins can hold up after the recent volatility. Article title: ServiceNow to Announce Second Quarter 2026 Financial Results on July 22
• Negative Sentiment: Bearish articles continued to highlight risks from AI disruption, slower large-deal closures, acquisition-related margin pressure, and premium valuation, all of which could limit upside if execution disappoints. Article title: ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

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.

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