ServiceNow, Inc. $NOW Shares Acquired by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D boosted its ServiceNow stake by 387% to 354,005 shares (about $54.2M), and other institutions including Vanguard, Nordea and Pictet also made large fourth‑quarter purchases, leaving institutional ownership at roughly 87.18%.
• ServiceNow reported healthy momentum in Q1—about 22% year‑over‑year subscription growth, revenue up ~22% and a raised FY2026 subscription outlook—while executing on AI partnerships that support upsell and long‑term monetization.
• Despite the beat, the stock has faced sharp downward pressure and insider selling recently; analysts remain generally positive (consensus rating: Moderate Buy, consensus target ~$146.65) even as the share price trades near its 52‑week low.

State of New Jersey Common Pension Fund D increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 387.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 354,005 shares of the information technology services provider's stock after acquiring an additional 281,311 shares during the period. State of New Jersey Common Pension Fund D's holdings in ServiceNow were worth $54,230,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. Nordea Investment Management AB lifted its holdings in ServiceNow by 388.7% in the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after purchasing an additional 3,743,087 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in ServiceNow by 613.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock valued at $588,326,000 after purchasing an additional 3,301,962 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its holdings in shares of ServiceNow by 402.9% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,246,957 shares of the information technology services provider's stock worth $344,211,000 after buying an additional 1,800,113 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 results showed healthy subscription momentum (≈22% YoY subscription growth) and management raised FY2026 subscription outlook, reinforcing recurring revenue strength and AI monetization potential. ServiceNow Announces Financial Results for Q1 2026
• Positive Sentiment: Real‑world agentic AI deployments (example: TridentCare) and a deeper AI collaboration with Google Cloud signal enterprise adoption across telecom, retail and ITSM — supports upsells, larger ACVs and long‑run revenue expansion. ServiceNow AI Partnerships Test Workflow Stickiness As Shares Slide
• Positive Sentiment: Several analysts and commentators are pitching NOW as a buy‑the‑dip opportunity (double‑bottom thesis), citing durable subscription economics, strong free cash flow and runway for buybacks/M&A. ServiceNow: Buy This Double Bottom
• Neutral Sentiment: ISG reports and partner recognitions (Atos, Genpact, Zaelab) show a maturing ecosystem standardizing ServiceNow as a governed AI/workflow platform — positive for long‑term adoption but incremental to near‑term revenue. Atos recognized as a Leader in ISG’s Provider Lens® 2026
• Neutral Sentiment: New partner integrations (healthcare partnerships, ERP integrations) expand addressable market and regulatory fit but require execution to convert into material revenue. Simplify Alpha Partners With ServiceNow
• Negative Sentiment: Market reaction has been harsh: shares plunged YTD and fell further after earnings despite the beat — valuation compression and rotation into pure‑play AI winners are weighing on the stock. Salesforce vs. ServiceNow: Which AI Stock Is the Better Buy?
• Negative Sentiment: Insider selling disclosed: Jacqueline P. Canney sold ~8,927 shares at ≈$89.60, which can add short‑term negative sentiment. Insider SEC Filing

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen restated a "buy" rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Morgan Stanley lowered their target price on ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Evercore dropped their price target on ServiceNow from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. DA Davidson reduced their price objective on ServiceNow from $220.00 to $190.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Finally, Benchmark started coverage on ServiceNow in a research note on Wednesday, April 1st. They issued a "buy" rating and a $125.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $146.65.

Insider Activity

In other news, insider Kevin Thomas Mcbride sold 1,400 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares in the company, valued at approximately $2,781,652.94. The trade was a 5.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the transaction, the director owned 46,430 shares of the company's stock, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 25,164 shares of company stock valued at $2,497,021 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

ServiceNow stock opened at $88.18 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The firm has a market cap of $90.91 billion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The company's 50 day moving average is $103.83 and its two-hundred day moving average is $135.59.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company's quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 2.37 EPS for the current fiscal year.

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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