ServiceNow, Inc. $NOW Shares Acquired by Parnassus Investments LLC

Parnassus Investments LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 261.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,304,946 shares of the information technology services provider’s stock after purchasing an additional 1,666,680 shares during the period. Parnassus Investments LLC’s holdings in ServiceNow were worth $353,095,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meridian Wealth Advisors LLC raised its holdings in shares of ServiceNow by 2.2% during the third quarter. Meridian Wealth Advisors LLC now owns 552 shares of the information technology services provider’s stock valued at $508,000 after acquiring an additional 12 shares during the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,270 shares of the information technology services provider’s stock valued at $1,169,000 after acquiring an additional 13 shares during the last quarter. JT Stratford LLC raised its holdings in shares of ServiceNow by 3.5% during the third quarter. JT Stratford LLC now owns 385 shares of the information technology services provider’s stock valued at $354,000 after acquiring an additional 13 shares during the last quarter. Florida Financial Advisors LLC raised its holdings in shares of ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after acquiring an additional 14 shares during the last quarter. Finally, Cozad Asset Management Inc. raised its holdings in shares of ServiceNow by 6.7% during the third quarter. Cozad Asset Management Inc. now owns 223 shares of the information technology services provider’s stock valued at $205,000 after acquiring an additional 14 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred 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 sale, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction 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 ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

ServiceNow Stock Down 2.9%

NOW stock opened at $103.03 on Friday. The firm has a market cap of $106.23 billion, a PE ratio of 61.40, a PEG ratio of 1.75 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. The firm’s 50 day moving average price is $99.84 and its 200-day moving average price is $120.17. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW) last released its quarterly 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. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. On average, equities research analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new partnership with IBM aimed at modernizing legacy IT systems and making enterprise data usable for agentic AI, which supports the company’s long-term AI growth narrative. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: ServiceNow also expanded its AI footprint through a partnership with Phenom to launch AI hiring agents, reinforcing demand for its workflow automation and AI tools. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, citing AI growth, pricing power, and a potential path to much higher revenue over time. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow was also highlighted as a possible AI winner by market commentators, suggesting investors still see it as one of the better-positioned software names in the AI trade. The AI Trade Nobody Is Making Right Now — and Why It Could Be 2026’s Best Opportunity
• Neutral Sentiment: ServiceNow is getting attention from traders and media as the stock remains volatile, with some technical commentary suggesting the recent pullback may be driven partly by profit-taking rather than a change in fundamentals. What’s Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Multiple reports said ServiceNow disclosed or patched a bug/API vulnerability that may have exposed customer data or allowed unauthorized access, raising cybersecurity and trust concerns. ServiceNow tells customers a bug left some of their data exposed to the internet
• Negative Sentiment: Commentary from Jim Cramer also pointed to ServiceNow’s premium valuation, which can make the stock more vulnerable when sentiment turns cautious. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: News about Bay Area job cuts across tech firms added to the cautious tone in the sector, reinforcing worries about a softer enterprise spending backdrop. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

Analysts Set New Price Targets

A number of brokerages have commented on NOW. Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Capital One Financial increased their target price on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. reduced their target price on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Truist Financial reduced their target price on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, UBS Group reissued an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.85.

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.