Pictet Asset Management Holding SA Has $635.71 Million Position in ServiceNow, Inc. $NOW

Pictet Asset Management Holding SA grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 58.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,080,250 shares of the information technology services provider’s stock after acquiring an additional 2,239,988 shares during the period. ServiceNow accounts for 0.7% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 26th biggest holding. Pictet Asset Management Holding SA’s holdings in ServiceNow were worth $635,706,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. State Street Corp increased its position in ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock worth $4,962,692,000 after purchasing an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 10.2%

ServiceNow stock opened at $98.64 on Friday. The firm has a market cap of $101.70 billion, a price-to-earnings ratio of 58.79, a P/E/G ratio of 1.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm has a fifty day moving average price of $100.10 and a two-hundred day moving average price of $115.27.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a market rotation into software, with the stock trading near the top of the S&P 500 alongside peers like Workday and AppLovin as investors favor software over chips. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Positive Sentiment: Oppenheimer reiterated an Outperform rating and $130 price target, citing AI growth and ServiceNow’s partnership with Cognizant, which supports expectations for a second-half 2026 reacceleration. Oppenheimer Reaffirms Bullish Outlook on ServiceNow (NOW) Amid AI Growth and Cognizant Partnership
• Positive Sentiment: Recent commentary argues ServiceNow remains a high-quality business trading at a discount, reinforcing the bullish valuation case if growth stays steady. ServiceNow: An Excellent Business Trading at a Discount
• Neutral Sentiment: Industry coverage and comparisons versus Salesforce highlight that ServiceNow’s revenue growth has been more consistent, but the articles are mostly informational rather than a direct catalyst. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?
• Neutral Sentiment: HCLTech’s expanded work with Google Cloud and ServiceNow on AI agents adds ecosystem momentum, but it is not a direct financial update for NOW. HCLTech unveils AI agents on Gemini Enterprise with Google Cloud, ServiceNow
• Negative Sentiment: The recent pullback in tech and AI stocks, especially semiconductors, has kept valuation pressure on the broader sector and likely contributed to recent volatility in ServiceNow shares. Palantir Joins Software Stock Rally Amid Semiconductor, Tech Sell-Off

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 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.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $236.00 price target (up from $226.00) on shares of ServiceNow in a research note on Wednesday, May 6th. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an “underweight” rating in a research report on Thursday, April 23rd. Truist Financial reduced their target price on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $135.00 target price (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, 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 note 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 given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.17.

ServiceNow Company 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.