Peapack Gladstone Financial Corp Acquires 8,881 Shares of ServiceNow, Inc. $NOW

Key Points

• Peapack Gladstone Financial Corp increased its ServiceNow stake by 505.5% in the fourth quarter, buying 8,881 additional shares to bring its total to 10,638 shares valued at about $1.63 million.
• ServiceNow’s latest quarterly results were in line with expectations, reporting $0.97 EPS and $3.77 billion in revenue, with revenue rising 22.1% year over year.
• Sentiment around the stock remains mixed: analysts still have a Moderate Buy consensus with an average target of $141.85, while some recent analyst reports cut price targets and insiders have also been selling shares.

Peapack Gladstone Financial Corp lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 505.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,638 shares of the information technology services provider's stock after purchasing an additional 8,881 shares during the period. Peapack Gladstone Financial Corp's holdings in ServiceNow were worth $1,630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of ServiceNow by 404.5% during 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 purchasing an additional 81,752,460 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ServiceNow by 404.8% in 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. Norges Bank bought a new position in ServiceNow in the fourth quarter worth approximately $2,020,992,000. State Street Corp boosted its holdings in ServiceNow by 1.4% in the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock worth $8,700,970,000 after acquiring an additional 131,080 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in ServiceNow by 280.1% in the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after acquiring an additional 6,213,762 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NOW opened at $117.86 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $121.51 billion, a price-to-earnings ratio of 70.24, a PEG ratio of 2.11 and a beta of 0.94. The stock has a 50 day moving average of $98.99 and a 200 day moving average of $122.45. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts' consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's revenue was up 22.1% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Mizuho cut their price target on ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Canaccord Genuity Group cut their price target on ServiceNow from $200.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Capital One Financial increased their price target on ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Wells Fargo & Company cut their price target on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus target price of $141.85.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow highlighted its AI and workflow automation story in two conference appearances at the Bank of America 2026 Global Technology Conference and the William Blair Growth Stock Conference, reinforcing the company’s growth narrative and product momentum. ServiceNow, Inc. (NOW) Presents at Bank of America 2026 Global Technology Conference Transcript
• Positive Sentiment: A MarketBeat piece argued that AI spending is benefiting ServiceNow as part of a broader “nuts and bolts” enterprise AI buildout, which supports the bull case for the stock. Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow (NOW)
• Positive Sentiment: Several recent articles framed ServiceNow as an attractive AI leader trading at a discount or as a stock the market may be underestimating, which could encourage dip-buying. ServiceNow: The Ultimate AI Control Tower Trading At A Discount
• Positive Sentiment: ServiceNow announced a $2.5 million grant to City Year to expand student success and AI-enabled operations, adding to the company’s reputation for strategic AI investment and community partnerships. City Year Receives $2.5M Grant from ServiceNow to Power Student Success and Build Future-Ready Talent Pipelines
• Positive Sentiment: The company deepened its Everbridge xMatters partnership to enhance AI-driven incident response and workflow orchestration, a move that may support future enterprise demand. ServiceNow Deepens Everbridge xMatters AI Ties In Critical Workflows
• Neutral Sentiment: Several new articles compared ServiceNow with peers like Salesforce, Palantir, and Intuit, keeping the stock in focus but not adding a clear new catalyst by themselves. Salesforce vs. ServiceNow: 1 AI Giant Is Leaving the Other Behind
• Negative Sentiment: ServiceNow also appeared in a wave of bearish commentary questioning SaaS valuations and arguing the stock may be less appealing after its sharp run-up, which can weigh on sentiment. ServiceNow: The More I Look, The Less Appealing It Feels
• Negative Sentiment: A broader software-sector selloff tied to AI uncertainty also hurt sentiment toward ServiceNow and other enterprise software names. Software stocks whipsaw amid AI fears, as Anthropic IPO looms

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $130,845.00. Following the sale, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company's stock.

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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