ServiceNow, Inc. $NOW Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management boosted its stake in ServiceNow by 613.4% in Q4, now owning 3,840,262 shares (0.37% of the company) valued at about $588.3M.
• ServiceNow beat Q1 revenue and EPS and highlighted accelerating AI adoption (Now Assist/AI agents), while closing the $7.75B Armis acquisition and deepening Google Cloud AI ties, supporting its long‑term growth narrative.
• Market reaction is mixed: several analysts have cut price targets though the consensus rating is a "Moderate Buy" with a $146.65 target, while short interest rose ~30% to ~38.95M shares and insiders sold ~16,237 shares in the past three months, signaling near‑term investor concern.

Pictet Asset Management Holding SA grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 613.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,840,262 shares of the information technology services provider's stock after buying an additional 3,301,962 shares during the period. Pictet Asset Management Holding SA owned 0.37% of ServiceNow worth $588,326,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. IAG Wealth Partners LLC boosted its stake in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 18 shares during the last quarter. Bogart Wealth LLC raised its stake in ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 15 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in ServiceNow in the 3rd quarter valued at about $29,000. Albion Financial Group UT lifted its holdings in ServiceNow by 78.9% in the 3rd quarter. Albion Financial Group UT now owns 34 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 15 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of ServiceNow by 52.0% during the 3rd quarter. True Wealth Design LLC now owns 38 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 13 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NOW shares. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday. Citigroup decreased their target price on shares of ServiceNow from $177.00 to $154.00 and set a "buy" rating on the stock in a research report on Thursday. Weiss Ratings cut shares of ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, April 21st. Royal Bank Of Canada cut their price target on ServiceNow from $150.00 to $121.00 and set an "outperform" rating for the company in a report on Monday, April 13th. Finally, Barclays initiated coverage on ServiceNow in a research note on Thursday. They set an "overweight" rating and a $132.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.65.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Company fundamentals and AI traction remain supportive — ServiceNow beat revenue/earnings views for Q1 and highlighted accelerating AI product adoption (Now Assist / AI agents) that management says will drive long‑term growth. ServiceNow Reports First Quarter 2026 Financial Results
• Positive Sentiment: Strategic moves boost the product and security stack — ServiceNow closed the $7.75B Armis acquisition (extends security capabilities) and deepened Google Cloud AI partnerships, which support cross‑sell and AI workflow positioning. Armis acquisition Google Cloud partnership
• Neutral Sentiment: Mixed analyst reactions — Several firms reaffirmed buy/overweight ratings (some even raised PTs), but many cut targets after the quarter; consensus still leaves upside from current levels, reflecting disagreement over near‑term vs. long‑term outlook. Analyst coverage
• Negative Sentiment: Geopolitical deal delays hit near‑term growth — Management said Middle East conflict delayed several large deal closings (≈75 bps revenue headwind in Q1), and that pushed investors to downgrade near‑term growth expectations. Middle East deal delays
• Negative Sentiment: Margin and guidance concerns — Investors focused on acquisition costs (Armis) and a softer margin outlook/full‑year subscription guidance that many viewed as disappointing, triggering the sector‑wide selloff. Margin/guidance coverage
• Negative Sentiment: Short interest jumped — Short interest rose ~30% in April to ~38.95M shares (~3.8% of shares), increasing potential downside pressure and volatility if bearish sentiment persists.

Insiders Place Their Bets

In related news, insider Paul Fipps sold 3,696 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the completion of the transaction, the insider owned 8,061 shares in the company, valued at $820,367.97. The trade was a 31.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,237 shares of company stock worth $1,697,162 in the last three months. 0.34% of the stock is owned by insiders.

ServiceNow Trading Down 0.1%

NYSE NOW opened at $90.09 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $92.88 billion, a price-to-earnings ratio of 53.69, a PEG ratio of 1.53 and a beta of 1.01. The company's 50 day moving average price is $104.84 and its 200 day moving average price is $137.19. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $0.81 EPS. The company's revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts predict that ServiceNow, Inc. will post 2.47 EPS for the current year.

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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