Resources Management Corp CT ADV cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 84.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,715 shares of the information technology services provider’s stock after selling 65,583 shares during the period. Resources Management Corp CT ADV’s holdings in ServiceNow were worth $1,795,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in ServiceNow during the 4th quarter valued at $2,020,992,000. Cohen Klingenstein LLC boosted its stake in ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after purchasing an additional 8,000 shares in the last quarter. World Investment Advisors boosted its stake in ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,218,000 after purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. boosted its stake in ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in ServiceNow by 385.9% during the 4th 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 purchasing an additional 2,064,440 shares in the last quarter. 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 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 Price Performance
ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the business earned $0.81 EPS. The company’s revenue was up 22.1% on a year-over-year basis. Equities analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.
Insider Activity
In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction 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 sale, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the business’s 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 sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last 90 days. Company insiders own 0.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on NOW. HSBC cut their price objective on ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Truist Financial cut their price objective on ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Cantor Fitzgerald cut their price objective on ServiceNow to $122.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on ServiceNow in a research report on Thursday, April 23rd. Finally, Benchmark began coverage on ServiceNow in a research report on Wednesday, April 1st. They set a “buy” rating and a $125.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.85.
Read Our Latest Analysis on ServiceNow
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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