Leonteq Securities AG Makes New Investment in ServiceNow, Inc. $NOW

Key Points

• Leonteq Securities AG disclosed a new first-quarter stake in ServiceNow, buying 134,801 shares worth about $14.1 million. The position makes ServiceNow its 26th-largest holding and about 0.5% of its portfolio.
• Sentiment around ServiceNow remains mixed but generally constructive: Guggenheim upgraded the stock to Buy with a $125 target, citing concerns that AI disruption fears may be overdone and that the shares look attractive after a selloff. ServiceNow also announced a joint initiative with Accenture to use agentic AI in enterprise risk management.
• Valuation and execution risks still matter. Analysts noted the stock trades at a premium, and bearish commentary continues to point to AI disruption, slower large-deal closures, and margin pressure as possible headwinds.

Leonteq Securities AG bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 134,801 shares of the information technology services provider's stock, valued at approximately $14,093,000. ServiceNow accounts for 0.5% of Leonteq Securities AG's investment portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of NOW. Vanguard Group Inc. lifted its stake 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 in the last quarter. State Street Corp boosted its holdings in ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock worth $7,337,280,000 after buying an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in ServiceNow by 371.0% during the 4th 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 buying an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 404.8% during the 4th 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 buying an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley raised 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 valued at $3,482,543,000 after acquiring an additional 17,514,679 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key Headlines 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

Insider Buying and Selling

In other news, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. 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 in the last quarter. 0.34% of the stock is currently owned by insiders.

ServiceNow Price Performance

NYSE:NOW opened at $106.06 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The stock has a market cap of $109.34 billion, a PE ratio of 63.20, a P/E/G ratio of 1.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day moving average price of $100.47 and a 200 day moving average price of $112.93.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Equities research analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of several research reports. FBN Securities decreased their target price on ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. BMO Capital Markets dropped their price target on ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Canaccord Genuity Group reduced their price objective on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Evercore raised their price objective on ServiceNow from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, May 5th. Finally, Piper Sandler lowered their target price on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.68.

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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