ServiceNow, Inc. $NOW Shares Bought by Empire Life Investments Inc.

Key Points

• Empire Life Investments sharply increased its ServiceNow stake in the fourth quarter, boosting holdings by 393.2% to 88,675 shares valued at about $13.6 million.
• Other major institutions also added to their positions, including Vanguard and several large asset managers, and 87.18% of ServiceNow shares are held by institutional investors and hedge funds.
• ServiceNow recently reported quarterly earnings that met EPS expectations and slightly topped revenue estimates, with revenue up 22.1% year over year; analysts remain mostly constructive, though price targets have been trimmed by some firms.

Empire Life Investments Inc. grew its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 393.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,675 shares of the information technology services provider's stock after purchasing an additional 70,695 shares during the period. Empire Life Investments Inc.'s holdings in ServiceNow were worth $13,584,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. 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 acquiring an additional 81,752,460 shares during the last quarter. Jennison Associates LLC grew its stake in ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after purchasing an additional 6,213,762 shares in the last quarter. Nordea Investment Management AB increased its holdings in ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after purchasing an additional 3,743,087 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in ServiceNow by 613.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock worth $588,326,000 after purchasing an additional 3,301,962 shares during the last quarter. Finally, Swedbank AB raised its position in shares of ServiceNow by 326.9% in the 4th quarter. Swedbank AB now owns 3,415,650 shares of the information technology services provider's stock valued at $523,243,000 after purchasing an additional 2,615,500 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $89.03 on Wednesday. The company has a market cap of $91.79 billion, a PE ratio of 53.06, a P/E/G ratio of 1.62 and a beta of 0.82. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm has a 50-day simple moving average of $101.80 and a 200 day simple moving average of $130.69. 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 (NYSE:NOW - Get Free Report) last issued its 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 quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, sell-side 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: Boomi and ServiceNow launched a partnership around the Workflow Data Network Passport Program, which could strengthen ServiceNow’s AI and data-integration growth narrative. Boomi and ServiceNow Partner to Power Data Activation Across the Enterprise
• Positive Sentiment: Analysts remain constructive on ServiceNow, with Evercore ISI raising its price target to $150 and BMO reiterating an Outperform rating, citing strength in AI-related growth and the platform’s defensive qualities. ServiceNow (NOW) Price Target Raised as AI Growth Story Gains Strength
• Positive Sentiment: FedEx is expanding its partnership with ServiceNow, another sign that large enterprise customers are deepening usage of the platform. FedEx expands ServiceNow partnership
• Neutral Sentiment: ServiceNow also used its Knowledge 2026 conference to highlight new AI control, security, and identity offerings, underscoring product momentum but without a clear near-term financial impact. ServiceNow Seeks AI Control Role As Stock Struggles And Partnerships Grow
• Neutral Sentiment: An insider sale by Paul Fipps was disclosed, but the transaction was small and executed under a pre-arranged 10b5-1 trading plan, so it is less likely to be viewed as a major signal. SEC insider filing for Paul Fipps
• Negative Sentiment: ServiceNow plans to raise $4 billion through a bond sale, which could raise financing concerns for some investors even though the company has strong business momentum. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NOW shares. HSBC decreased their price target on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Argus cut their price target on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a report on Friday, April 24th. Macquarie Infrastructure reduced their price objective on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating on the stock in a research note on Thursday, January 29th. UBS Group set a $150.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Finally, BTIG Research reissued a "buy" rating and issued a $150.00 target price on shares of ServiceNow in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.71.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the transaction, the insider owned 8,061 shares of the company's stock, valued at $820,367.97. This represents a 31.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 25,315 shares of company stock valued at $2,510,682 over the last three months. Corporate 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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