Progressive Investment Management Corp Buys 41,215 Shares of ServiceNow, Inc. $NOW

Progressive Investment Management Corp lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 396.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 51,603 shares of the information technology services provider’s stock after acquiring an additional 41,215 shares during the period. ServiceNow accounts for about 1.9% of Progressive Investment Management Corp’s portfolio, making the stock its 18th biggest position. Progressive Investment Management Corp’s holdings in ServiceNow were worth $7,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of ServiceNow during the 4th quarter worth about $2,020,992,000. Cohen Klingenstein LLC boosted its position in shares of ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares in the last quarter. World Investment Advisors boosted its position in shares of ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of 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 worth $398,202,000 after purchasing an additional 2,064,440 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred 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 transaction, the director owned 44,930 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow 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 transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,071 shares of company stock worth $2,529,956 in the last quarter. 0.34% of the stock is owned by corporate insiders.

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

Shares of NYSE NOW opened at $102.34 on Monday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm’s 50-day simple moving average is $99.80 and its 200 day simple moving average is $119.74. 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 cap of $105.51 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.69 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. KeyCorp set a $85.00 price target on shares of ServiceNow and gave the company an “underweight” rating in a research report on Thursday, April 23rd. Benchmark initiated coverage on shares of ServiceNow in a research report on Wednesday, April 1st. They issued a “buy” rating and a $125.00 price target on the stock. Morgan Stanley dropped their price target on shares of ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Piper Sandler dropped their price target on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

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.