ServiceNow, Inc. $NOW Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 2.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 999,014 shares of the information technology services provider’s stock after buying an additional 19,114 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ServiceNow were worth $104,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Wealth Watch Advisors INC purchased a new position in ServiceNow in the 3rd quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $50,000. Pin Oak Investment Advisors Inc. lifted its position in shares of ServiceNow by 20.7% in the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 23 shares in the last quarter. Jupiter Wealth Management LLC purchased a new position in shares of ServiceNow during the second quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC lifted its position in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow beat second-quarter expectations, reporting EPS of $0.90 versus $0.86 expected and revenue of $3.99 billion versus $3.93 billion expected, with subscription revenue rising 24.5% year over year. ServiceNow Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its annual subscription revenue forecast again, signaling that demand for its AI-powered platform remains strong and helping reinforce the growth story. ServiceNow raises annual subscription revenue forecast again on AI-driven demand
• Positive Sentiment: ServiceNow highlighted new public-sector wins across nearly all 50 U.S. states and an expanded partnership with Leidos, both of which suggest continued enterprise adoption of its AI platform. ServiceNow accelerates AI-powered government reinvention across nearly all 50 U.S. states with new customer wins
• Positive Sentiment: Management also pushed back on fears that AI competition will hurt ServiceNow, arguing its “kill switch” and workflow control capabilities make the platform more important as customers adopt autonomous AI agents. ServiceNow CEO defends the company’s relevancy, touting a kill switch for rogue AI agents
• Neutral Sentiment: ServiceNow also announced a small strategic investment in BusinessNext, a move that could expand its banking automation reach but is not likely to move the stock by itself. ServiceNow buys 5% of BusinessNext, values Indian software firm at $700 million
• Negative Sentiment: Despite the earnings beat, investors remain cautious because the stock had already sold off sharply into the report, and some commentary pointed to AI disruption risks and softer guidance as reasons the rally could fade. ServiceNow Earnings Top Views, Revenue Outlook Light, Software Stock Climbs
• Negative Sentiment: Earlier bearish analyst coverage and broader concerns about OpenAI and other AI tools pressuring legacy workflow software likely weighed on sentiment before earnings. ServiceNow gets bearish call before major earnings test

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets dropped their price objective on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. FBN Securities reduced their price objective on shares of ServiceNow from $160.00 to $120.00 in a research note on Thursday, April 23rd. Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Mizuho reduced their target price on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $140.00 price target on shares of ServiceNow in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.24.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $95.50 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $104.67 and its two-hundred day moving average price is $108.16. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $210.20. The stock has a market cap of $98.46 billion, a PE ratio of 56.91, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow 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 value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their position. 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 28,071 shares of company stock valued at $2,529,956 in the last ninety days. Company insiders own 0.34% of the company’s stock.

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.