Progressive Investment Management Corp Acquires 41,215 Shares of ServiceNow, Inc. $NOW

Key Points

• Progressive Investment Management Corp increased its ServiceNow stake by 396.8% in the fourth quarter, adding 41,215 shares to reach 51,603 shares worth about $7.9 million. ServiceNow now represents roughly 1.9% of the fund’s portfolio.
• ServiceNow’s latest earnings beat revenue expectations and matched EPS estimates, with quarterly revenue of $3.77 billion, up 22.1% year over year. Analysts now expect the company to post $2.35 EPS for the current year.
• Investor sentiment remains mixed as analysts have trimmed several price targets, while insiders have also sold shares in recent months. Even so, institutional ownership remains high at 87.18%, and the stock still carries a consensus “Moderate Buy” rating.

Progressive Investment Management Corp boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 396.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,603 shares of the information technology services provider's stock after acquiring an additional 41,215 shares during the quarter. ServiceNow accounts for about 1.9% of Progressive Investment Management Corp's portfolio, making the stock its 18th largest position. Progressive Investment Management Corp's holdings in ServiceNow were worth $7,905,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its holdings in ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 18 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in ServiceNow in the third quarter valued at $29,000. Texas Capital Bancshares Inc TX acquired a new stake in ServiceNow in the third quarter valued at $37,000. Ameriflex Group Inc. increased its holdings in ServiceNow by 187.5% in the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock valued at $42,000 after purchasing an additional 30 shares during the period. Finally, Kelleher Financial Advisors acquired a new stake in ServiceNow in the third quarter valued at $50,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $102.34 on Monday. 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 business has a 50-day moving average price of $99.80 and a two-hundred day moving average price of $119.74. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The company has a market cap of $105.51 billion, a P/E ratio of 60.99, a PEG ratio of 1.69 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $0.81 EPS. The business's revenue was up 22.1% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

Key ServiceNow News

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

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was 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 in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director owned 30,090 shares of the company's stock, valued at approximately $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 have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on NOW shares. Raymond James Financial decreased their price objective on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Mizuho decreased their price objective on ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. HSBC decreased their price objective on ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. decreased their price objective on ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Finally, Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $141.85.

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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