Castleark Management LLC Buys 217,442 Shares of ServiceNow, Inc. $NOW

Castleark Management LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 410.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 270,420 shares of the information technology services provider’s stock after purchasing an additional 217,442 shares during the quarter. ServiceNow comprises 1.2% of Castleark Management LLC’s portfolio, making the stock its 18th biggest holding. Castleark Management LLC’s holdings in ServiceNow were worth $41,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Brighton Jones LLC grew its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after buying an additional 30 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after buying an additional 34 shares during the last quarter. United Bank grew its stake in shares of ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after buying an additional 204 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in shares of ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after buying an additional 42 shares during the last quarter. Finally, Nebula Research & Development LLC grew its stake in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after buying an additional 609 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Key Stories Impacting ServiceNow

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. BTIG Research reissued a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. 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. BMO Capital Markets cut their target price on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Canaccord Genuity Group cut their target price on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Cantor Fitzgerald cut their target price on ServiceNow to $122.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. One 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

ServiceNow Price Performance

Shares of NYSE NOW opened at $102.34 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The firm has a market cap of $105.51 billion, a P/E ratio of 60.99, a PEG ratio of 1.70 and a beta of 0.94. The company has a 50 day moving average of $99.80 and a 200 day moving average of $120.05. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Fipps sold 1,048 shares of the business’s 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 transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. 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 have sold 28,071 shares of company stock valued at $2,529,956 in the last quarter. Insiders own 0.34% of the company’s stock.

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.