Keybank National Association OH Has $7.26 Million Stake in ServiceNow, Inc. $NOW

Key Points

• KeyBank National Association OH boosted its stake in ServiceNow by 380.1% in Q4 to 47,387 shares (worth $7.26M), while other large institutions including Vanguard, Nordea and Pictet also made sizable additions, leaving institutional ownership at about 87.18%.
• ServiceNow reported Q1 revenue of $3.77 billion (up 22.1% YoY) and EPS of $0.97 in line with estimates, with management pointing to AI-driven monetization upside as a growth catalyst.
• Despite solid results and partner momentum, the stock trades near $88.40 (far below its $211.48 1‑year high), insiders have sold recently, and several analysts lowered price targets (consensus target ≈ $146.75), signaling near-term valuation pressure.

Keybank National Association OH grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 380.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 47,387 shares of the information technology services provider's stock after buying an additional 37,516 shares during the period. Keybank National Association OH's holdings in ServiceNow were worth $7,259,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NOW. Vanguard Group Inc. increased its holdings in ServiceNow by 404.5% in the 4th 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 buying an additional 81,752,460 shares during the period. Nordea Investment Management AB raised its stake in shares of ServiceNow by 388.7% in the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after acquiring an additional 3,743,087 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in ServiceNow by 613.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after purchasing an additional 3,301,962 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in ServiceNow by 385.9% during the 4th 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 purchasing an additional 2,064,440 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position in ServiceNow by 402.9% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,246,957 shares of the information technology services provider's stock valued at $344,211,000 after purchasing an additional 1,800,113 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Down 0.5%

Shares of NYSE:NOW opened at $88.40 on Friday. 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 stock has a market cap of $91.14 billion, a price-to-earnings ratio of 52.68, a P/E/G ratio of 1.57 and a beta of 1.01. The company has a 50 day moving average of $103.45 and a 200-day moving average of $135.26. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same period last year, the firm earned $0.81 earnings per share. The business's revenue for the quarter was up 22.1% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 results showed subscription revenue growth (~22% YoY) and in‑line EPS, with management pointing to AI‑driven monetization upside — evidence that core recurring revenue remains healthy. ServiceNow (NOW) Announces Financial Results for Q1 2026
• Positive Sentiment: Citigroup raised its price target to $158 and kept a Buy rating, signaling at least some Wall Street confidence in NOW’s recovery potential and AI monetization. Citigroup Raises Price Target
• Positive Sentiment: Analysts and industry notes highlight a powerful partner ecosystem (consulting and ISV partners) that can accelerate enterprise AI/workflow adoption and expand ServiceNow’s addressable market. ServiceNow Benefits From Rich Partner Base
• Positive Sentiment: Atos was named a Leader in ISG’s ServiceNow ecosystem report — a sign partners are investing in ServiceNow expertise across Europe and the U.S., which supports longer‑term enterprise adoption. Atos recognized as a Leader in ISG’s Provider Lens 2026
• Neutral Sentiment: Third‑party ISV innovation (Brightfin’s AI‑native IT financial management built on ServiceNow) underscores platform extensibility but is likely incremental to ServiceNow’s near‑term revenue. Brightfin Unveils AI-Native Platform
• Neutral Sentiment: Comparative pieces (Salesforce vs. ServiceNow) and buy‑the‑dip analyses highlight divergent investor views — long‑term growth thesis intact but timing and multiple remain debated. Salesforce vs. ServiceNow: Which AI Stock Is the Better Buy?
• Negative Sentiment: Insider selling disclosed (Jacqueline Canney sold ~8,927 shares at ≈$89.60), which can increase short‑term sentiment pressure. Insider SEC Filing
• Negative Sentiment: Shares remain far below prior highs and have suffered YTD declines; investors are rotating toward perceived pure‑play AI winners and larger AI investments (e.g., Alphabet/Anthropic), which amplifies valuation pressure on NOW. Alphabet Plans Up to $40B Anthropic Investment
• Negative Sentiment: Several firms trimmed targets or issued mixed notes post‑earnings, leaving consensus upside but also highlighting near‑term uncertainty on multiple compression. MarketBeat ServiceNow Coverage

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Fipps sold 9,641 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, the insider owned 11,757 shares of the company's stock, valued at approximately $1,245,419.01. This represents a 45.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,164 shares of company stock worth $2,497,021 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Mizuho decreased their target price on ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Needham & Company LLC reduced their target price on shares of ServiceNow from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. TD Cowen reissued a "buy" rating and issued a $140.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada dropped their price objective on shares of ServiceNow from $150.00 to $121.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $146.75.

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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