Sumitomo Life Insurance Co. Boosts Holdings in ServiceNow, Inc. $NOW

Sumitomo Life Insurance Co. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 477.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 103,070 shares of the information technology services provider’s stock after acquiring an additional 85,207 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in ServiceNow were worth $15,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC lifted its holdings in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Noble Wealth Management PBC raised its position in shares of ServiceNow by 400.0% in the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 128 shares during the last quarter. Millstone Evans Group LLC raised its position in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $25,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were 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 in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated 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 sale, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,071 shares of company stock valued at $2,529,956 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citic Securities reduced their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Citizens Jmp reiterated a “market outperform” rating and issued a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Oppenheimer reiterated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. Barclays reiterated an “overweight” rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Finally, TD Cowen reiterated a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $141.85.

Key Headlines 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

ServiceNow Price Performance

ServiceNow stock opened at $102.34 on Friday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The stock 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 price of $99.80 and a 200 day moving average price of $120.05. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (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 during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the business earned $0.81 earnings per share. ServiceNow’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

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.