ServiceNow, Inc. $NOW Shares Purchased by Sumitomo Life Insurance Co.

Key Points

• Sumitomo Life Insurance Co. boosted its ServiceNow stake by 477% in the fourth quarter, ending with 103,070 shares valued at about $15.8 million.
• ServiceNow reported quarterly earnings of $0.97 per share, matching estimates, while revenue came in slightly above forecasts at $3.77 billion and rose 22.1% year over year.
• Analyst sentiment remains constructive overall, with the stock carrying a Moderate Buy rating and an average price target of $141.85, even as some firms recently trimmed their targets.

Sumitomo Life Insurance Co. lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 477.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,070 shares of the information technology services provider's stock after acquiring an additional 85,207 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in ServiceNow were worth $15,789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC increased its stake in shares of ServiceNow by 200.0% in the third 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 period. Noble Wealth Management PBC increased its stake in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 128 shares during the period. Millstone Evans Group LLC increased its stake in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 135 shares during the period. Finally, Blueline Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $25,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $102.34 on Friday. The company's fifty day moving average price is $99.80 and its 200 day moving average price is $120.05. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a market capitalization of $105.51 billion, a PE ratio of 60.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research reports. Citizens Jmp reiterated a "market outperform" rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. JPMorgan Chase & Co. cut their price objective on shares of ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Robert W. Baird cut their price objective on shares of ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Finally, Benchmark assumed coverage on shares of ServiceNow in a report on Wednesday, April 1st. They set a "buy" rating and a $125.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $141.85.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by corporate insiders.

More 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

ServiceNow 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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