Panagora Asset Management Inc. Increases Stock Position in ServiceNow, Inc. $NOW

Key Points

• Panagora Asset Management significantly increased its ServiceNow stake by 584.5% in the fourth quarter, ending with 1.38 million shares valued at about $212 million.
• ServiceNow reported quarterly EPS of $0.97, matching analyst expectations, while revenue rose 22.1% year over year to $3.77 billion and slightly beat estimates.
• The company’s AI and enterprise software narrative remains a focal point, with ServiceNow raising its 2026 AI revenue target to $1.5 billion and announcing a partnership with IBM to help modernize legacy IT systems.

Panagora Asset Management Inc. grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 584.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,384,252 shares of the information technology services provider's stock after acquiring an additional 1,182,015 shares during the quarter. ServiceNow comprises about 0.8% of Panagora Asset Management Inc.'s investment portfolio, making the stock its 19th biggest holding. Panagora Asset Management Inc. owned 0.13% of ServiceNow worth $212,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NOW. Meridian Wealth Advisors LLC lifted its stake in shares of ServiceNow by 2.2% in the 3rd quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider's stock worth $508,000 after purchasing an additional 12 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider's stock worth $1,169,000 after purchasing an additional 13 shares during the period. JT Stratford LLC lifted its stake in shares of ServiceNow by 3.5% in the 3rd quarter. JT Stratford LLC now owns 385 shares of the information technology services provider's stock worth $354,000 after purchasing an additional 13 shares during the period. Abbot Financial Management Inc. lifted its stake in shares of ServiceNow by 2.9% in the 3rd quarter. Abbot Financial Management Inc. now owns 502 shares of the information technology services provider's stock worth $462,000 after purchasing an additional 14 shares during the period. Finally, Cozad Asset Management Inc. lifted its stake in shares of ServiceNow by 6.7% in the 3rd quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider's stock worth $205,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NYSE NOW opened at $102.34 on Monday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The stock has a market cap of $105.51 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.69 and a beta of 0.94. The company's 50 day moving average is $99.80 and its two-hundred day moving average is $119.74. 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 (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting 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 for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the business earned $0.81 EPS. The firm's revenue was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred 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 trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 28,071 shares of company stock valued at $2,529,956. Corporate insiders own 0.34% of the company's stock.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow lifted its 2026 AI revenue target to $1.5 billion, signaling that demand for Now Assist is strong and that customers are expanding AI deployments and spending more on the platform. Can Strong Demand in Now Assist Boost ServiceNow's AI Revenue Growth?
• Positive Sentiment: IBM and ServiceNow announced a partnership aimed at helping enterprises modernize legacy IT systems and scale agentic AI, which could support longer-term adoption of ServiceNow’s workflow automation and AI tools. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: Analysts and commentators highlighted ServiceNow as a potential AI winner in the second half of 2026, reinforcing the market’s view that the company could benefit from rising enterprise AI spending. The AI Trade Nobody Is Making Right Now -- and Why It Could Be 2026's Best Opportunity
• Neutral Sentiment: ServiceNow and IBM also drew attention for targeting legacy IT modernization, but the immediate impact on the stock is likely more strategic than near-term financial. ServiceNow, IBM team up to target legacy IT
• Negative Sentiment: The stock has also been under pressure from profit-taking and a broader selloff in software names, which has weighed on sentiment despite the company’s AI growth narrative. What's Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Reports of additional Bay Area tech job cuts added to concerns about the broader enterprise software and technology labor backdrop, though this is not specific to ServiceNow’s core results. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

Analyst Upgrades and Downgrades

NOW has been the topic of several recent research reports. 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. Barclays reiterated an "overweight" rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. FBN Securities lowered their price objective on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Mizuho lowered their price objective on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Finally, UBS Group reiterated an "outperform" rating on shares of ServiceNow in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.85.

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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