LGT Fund Management Co Ltd. Grows Stake in ServiceNow, Inc. $NOW

Posted by Stanley Muller on Jul 12th, 2026

LGT Fund Management Co Ltd. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 223.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,015 shares of the information technology services provider’s stock after buying an additional 83,550 shares during the period. LGT Fund Management Co Ltd.’s holdings in ServiceNow were worth $12,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Covenant Asset Management LLC increased its stake in shares of ServiceNow by 169.2% during the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock valued at $3,196,000 after purchasing an additional 13,114 shares in the last quarter. Norges Bank purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $2,020,992,000. World Investment Advisors increased its position 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 $7,346,000 after buying an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC increased its position 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 buying an additional 8,000 shares in the last quarter. Finally, Moors & Cabot Inc. raised its stake in ServiceNow by 387.7% during the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after buying an additional 36,274 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NOW shares. Bank of America initiated coverage on shares of ServiceNow in a report on Monday, May 18th. They issued a “buy” rating and a $130.00 target price for the company. UBS Group reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. Argus cut their target price on ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Piper Sandler reduced their target price on ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price target on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $141.47.

View Our Latest Research Report on NOW

Insider Buying and Selling

In related news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 28,071 shares of company stock valued at $2,529,956 in the last 90 days. 0.34% of the stock is owned by company insiders.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

ServiceNow Stock Performance

Shares of NYSE NOW traded down $1.03 during midday trading on Friday, hitting $107.81. 11,058,890 shares of the company’s stock traded hands, compared to its average volume of 20,996,616. The firm has a fifty day moving average of $102.49 and a 200 day moving average of $111.27. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $210.20. 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 stock has a market capitalization of $111.16 billion, a price-to-earnings ratio of 64.25, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’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 earnings per share. On average, analysts forecast that ServiceNow, Inc. will post 2.34 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.