Mizuho Markets Cayman LP Trims Stake in ServiceNow, Inc. $NOW

Key Points

• Mizuho Markets Cayman LP sharply reduced its ServiceNow stake by 90.8% in the first quarter, selling 26,180 shares and leaving it with 2,665 shares worth about $279,000.
• Despite that reduction, institutional ownership remains high, with hedge funds and other institutions holding 87.18% of ServiceNow shares. Several large firms like Vanguard, State Street, and Price T Rowe also reported major positions.
• ServiceNow reported better-than-expected second-quarter results, posting EPS of $0.90 on revenue of $3.99 billion, and it also raised its annual subscription revenue outlook amid strong AI-driven demand.

Mizuho Markets Cayman LP cut its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 90.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,665 shares of the information technology services provider's stock after selling 26,180 shares during the quarter. Mizuho Markets Cayman LP's holdings in ServiceNow were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of 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 worth $15,619,771,000 after buying an additional 81,752,460 shares during the period. State Street Corp lifted its position in ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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 valued at $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley boosted its stake in 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 acquiring an additional 17,514,679 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on Friday, April 24th. The shares were 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 in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat second-quarter expectations, reporting EPS of $0.90 versus $0.86 expected and revenue of $3.99 billion versus $3.93 billion expected, with subscription revenue rising 24.5% year over year. ServiceNow Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its annual subscription revenue forecast again, signaling that demand for its AI-powered platform remains strong and helping reinforce the growth story. ServiceNow raises annual subscription revenue forecast again on AI-driven demand
• Positive Sentiment: ServiceNow highlighted new public-sector wins across nearly all 50 U.S. states and an expanded partnership with Leidos, both of which suggest continued enterprise adoption of its AI platform. ServiceNow accelerates AI-powered government reinvention across nearly all 50 U.S. states with new customer wins
• Positive Sentiment: Management also pushed back on fears that AI competition will hurt ServiceNow, arguing its “kill switch” and workflow control capabilities make the platform more important as customers adopt autonomous AI agents. ServiceNow CEO defends the company's relevancy, touting a kill switch for rogue AI agents
• Neutral Sentiment: ServiceNow also announced a small strategic investment in BusinessNext, a move that could expand its banking automation reach but is not likely to move the stock by itself. ServiceNow buys 5% of BusinessNext, values Indian software firm at $700 million
• Negative Sentiment: Despite the earnings beat, investors remain cautious because the stock had already sold off sharply into the report, and some commentary pointed to AI disruption risks and softer guidance as reasons the rally could fade. ServiceNow Earnings Top Views, Revenue Outlook Light, Software Stock Climbs
• Negative Sentiment: Earlier bearish analyst coverage and broader concerns about OpenAI and other AI tools pressuring legacy workflow software likely weighed on sentiment before earnings. ServiceNow gets bearish call before major earnings test

ServiceNow Stock Performance

NOW stock opened at $95.50 on Thursday. The stock's 50 day simple moving average is $104.67 and its 200 day simple moving average is $108.16. 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 $210.20. The stock has a market capitalization of $98.46 billion, a PE ratio of 56.91, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.93 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The company's revenue was up 24.0% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $145.00 target price (down from $163.00) on shares of ServiceNow in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft cut their price target on ServiceNow from $180.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. FBN Securities reduced their price objective on ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Piper Sandler lowered their price objective on ServiceNow from $200.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $139.24.

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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