US Bancorp DE Has $158.77 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• US Bancorp DE boosted its stake in ServiceNow by 395.5% in Q4 to 1,036,435 shares valued at about $158.77 million, and several other institutions also made large purchases as institutional ownership sits near 87%.
• ServiceNow's Q1 showed durable subscription momentum—subscription revenue rose ~22% YoY, revenue came in at $3.77 billion (slightly above estimates) and management raised FY26 revenue guidance.
• Despite the fundamentals, the stock has sold off sharply YTD and post‑earnings as investors rotate into pure‑play AI names; analyst price‑target cuts and recent insider selling have added near‑term downward pressure.

US Bancorp DE increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 395.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,036,435 shares of the information technology services provider's stock after acquiring an additional 827,256 shares during the quarter. US Bancorp DE owned about 0.10% of ServiceNow worth $158,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cohen Klingenstein LLC increased its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock valued at $1,532,000 after acquiring an additional 8,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock valued at $398,202,000 after acquiring an additional 2,064,440 shares in the last quarter. Natural Investments LLC increased its holdings in shares of ServiceNow by 332.0% during the fourth quarter. Natural Investments LLC now owns 16,453 shares of the information technology services provider's stock valued at $2,520,000 after acquiring an additional 12,644 shares in the last quarter. Narwhal Capital Management increased its holdings in shares of ServiceNow by 763.5% during the fourth quarter. Narwhal Capital Management now owns 16,977 shares of the information technology services provider's stock valued at $2,601,000 after acquiring an additional 15,011 shares in the last quarter. Finally, Focus Financial Network Inc. increased its holdings in shares of ServiceNow by 286.1% during the fourth quarter. Focus Financial Network Inc. now owns 53,650 shares of the information technology services provider's stock valued at $8,219,000 after acquiring an additional 39,756 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Enterprise AI adoption accelerating — ServiceNow highlighted real-world, agentic AI deployments (example: TridentCare) and deeper AI collaboration with Google Cloud across telecom, retail and ITSM, which supports larger deals and subscription upsells. ServiceNow AI Partnerships Test Workflow Stickiness As Shares Slide
• Positive Sentiment: Q1 results showed durable subscription momentum — subscription revenue rose ~22% YoY and management raised FY26 revenue guidance, reinforcing the company’s recurring-revenue growth story. ServiceNow (NOW) Announces Financial Results for Q1 2026
• Positive Sentiment: Buy‑the‑dip narratives are emerging — several analysts and commentators argue the post‑earnings sell‑off is overdone given strong subscription economics, FCF generation and AI monetization potential. ServiceNow: Buy This Double Bottom - Agentic AI Beneficiary Status Proven
• Neutral Sentiment: Partner and ecosystem expansion — new healthcare and consulting partnerships (e.g., Simplify Alpha, ISG-recognized partners) broaden addressable market but are execution‑dependent and incremental near term. Simplify Alpha Partners With ServiceNow
• Neutral Sentiment: Mixed analyst moves — the consensus remains a moderate buy, but several firms have trimmed price targets, reflecting shorter‑term caution despite long‑term growth estimates. MarketBeat ServiceNow Coverage
• Negative Sentiment: Shares have sold off sharply YTD and reacted poorly after earnings — investors are rotating into pure‑play AI names and applying valuation compression to legacy SaaS names like NOW. What's Going on With ServiceNow Stock?
• Negative Sentiment: Insider selling disclosed — Jacqueline P. Canney sold ~8,927 shares at ~$89.60, which may add short‑term sentiment pressure. Insider SEC Filing

ServiceNow Stock Performance

NYSE:NOW opened at $88.97 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. The stock has a market cap of $91.73 billion, a P/E ratio of 53.02, a PEG ratio of 1.59 and a beta of 1.01. The business's 50-day moving average price is $103.83 and its two-hundred day moving average price is $135.59. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company's revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 2.37 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated Friday, April 24th. The stock was 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. This represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $105.71, for a total value of $147,994.00. Following the transaction, the insider owned 26,314 shares in the company, valued at $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,164 shares of company stock valued at $2,497,021 over the last 90 days. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Capital One Financial decreased their price objective on ServiceNow from $158.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Wells Fargo & Company decreased their price target on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Needham & Company LLC decreased their price target on ServiceNow from $155.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. DA Davidson decreased their price target on ServiceNow from $220.00 to $190.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Finally, TD Cowen reiterated a "buy" rating and set a $140.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $146.65.

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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