ServiceNow, Inc. $NOW Shares Purchased by Assenagon Asset Management S.A.

Posted by Francis Steltz on Aug 7th, 2026

Assenagon Asset Management S.A. raised its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 30.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,811,760 shares of the information technology services provider’s stock after purchasing an additional 423,517 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ServiceNow were worth $179,872,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NOW. Covenant Asset Management LLC grew its stake in ServiceNow by 169.2% during the 4th quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after purchasing an additional 13,114 shares in the last quarter. Norges Bank acquired a new stake in ServiceNow in the 4th quarter valued at about $2,020,992,000. World Investment Advisors boosted its stake in shares of ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after buying an additional 38,583 shares during the period. Moors & Cabot Inc. grew its position in shares of ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake 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 worth $398,202,000 after buying an additional 2,064,440 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

Positive Sentiment: ServiceNow’s agentic-AI push is attracting attention as deployments reportedly grew ninefold over the past nine months. The company’s workflow and IT-management software is deeply embedded in large enterprises, potentially making it more likely to benefit from AI-driven automation than to be displaced by it. Why Is ServiceNow in Focus as Its Agentic AI Push Widens?
Positive Sentiment: Investor commentary remains constructive following second-quarter results that exceeded expectations. Revenue rose about 24% year over year to approximately $4 billion, subscription growth remained strong, and full-year guidance was raised. These results support the view that AI monetization is beginning to complement ServiceNow’s core business. ServiceNow Stock Opinions on Q2 Earnings and AI Growth
Positive Sentiment: Some analysts view the software sell-off as an opportunity to buy ServiceNow. Despite continued double-digit growth and strong free cash flow, the stock’s forward earnings multiple is described as being in the mid-20s, substantially below its historical valuation. ServiceNow: Why the Latest Quarter Is an Opportunity to Buy
Neutral Sentiment: New partnerships and applications are expanding ServiceNow’s AI ecosystem, including healthcare administrative automation, fraud-and-abuse detection, and industrial security. These announcements may improve product adoption over time, but their near-term financial impact was not disclosed. Hyro Partners with ServiceNow
Neutral Sentiment: Analyst opinions are mixed, though 29 recent price targets carry a median target of $134, above the reported trading level. Insider activity is also mixed: CEO William McDermott purchased shares, while several other executives sold stock. ServiceNow Stock Opinions on Q2 Earnings and AI Growth
Negative Sentiment: ServiceNow is being pressured by a broad software-sector sell-off after Datadog and HubSpot results raised concerns about AI competition, pricing power, and future growth. Investors remain cautious that AI-native tools could eventually reduce demand for or pricing of traditional enterprise software. Software Stocks Fall as Earnings Raise Questions Over AI Pricing

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 18,993 shares of company stock valued at $1,716,436 in the last three months. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOW shares. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Stifel Nicolaus lowered their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. BMO Capital Markets increased their target price on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Cantor Fitzgerald raised their price target on ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, Weiss Ratings downgraded ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.39.

Check Out Our Latest Analysis on ServiceNow

ServiceNow Stock Performance

NYSE NOW opened at $117.31 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The company has a market capitalization of $121.30 billion, a PE ratio of 73.32, a P/E/G ratio of 2.06 and a beta of 0.94. The company has a fifty day moving average of $106.72 and a two-hundred day moving average of $105.73.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

About ServiceNow

(Free Report)

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.