ServiceNow, Inc. $NOW Shares Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 18.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 530,306 shares of the information technology services provider’s stock after acquiring an additional 80,768 shares during the quarter. ServiceNow comprises approximately 2.1% of Peregrine Capital Management LLC’s holdings, making the stock its 5th largest position. Peregrine Capital Management LLC’s holdings in ServiceNow were worth $55,443,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wealth Watch Advisors INC bought a new stake in shares of ServiceNow during the 3rd quarter worth $29,000. Texas Capital Bancshares Inc TX bought a new position in ServiceNow in the 3rd quarter worth $37,000. Ameriflex Group Inc. lifted its position in ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 30 shares during the last quarter. Kelleher Financial Advisors acquired a new position in ServiceNow during the 3rd quarter worth $50,000. Finally, Pin Oak Investment Advisors Inc. lifted its position in ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.6%

NYSE NOW opened at $99.34 on Wednesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The stock has a market cap of $102.42 billion, a PE ratio of 59.20, a PEG ratio of 1.66 and a beta of 0.94. The firm has a 50-day simple moving average of $100.23 and a 200 day simple moving average of $113.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

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 firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 2.34 EPS for the current year.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Accenture launched new AI-driven cybersecurity and migration services, expanding the companies’ enterprise security push and giving investors another sign that ServiceNow is monetizing AI across higher-value workflows. ServiceNow, Accenture unveil AI-driven cyber risk management offering
• Positive Sentiment: BTIG reaffirmed its “buy” rating and set a $150 price target, while a separate note said ServiceNow is seeing stronger AI bundle traction, both of which support the stock’s valuation case. ServiceNow Rises on AI Bundle Momentum BTIG rating update
• Positive Sentiment: ServiceNow and IBM expanded their multi-year partnership to make legacy enterprise systems more “AI-ready,” which could create additional product demand and larger deal opportunities in the second half of 2026. ServiceNow’s New IBM Partnership
• Neutral Sentiment: Analysts are now looking ahead to ServiceNow’s upcoming Q2 2026 earnings, with expectations calling for a single-digit earnings decline; that creates event risk, but also a potential catalyst if results and guidance beat expectations. ServiceNow’s Q2 2026 Earnings: What to Expect
• Negative Sentiment: Atera said its latest G2 rankings placed it ahead of platforms including ServiceNow in some enterprise categories, highlighting rising competitive pressure in autonomous IT and workflow automation. Atera Extends Enterprise Lead with Top G2 Rankings
• Negative Sentiment: One article framed Adobe as the better 2026 technology pick versus ServiceNow, pointing to valuation and risk concerns that may weigh on investor sentiment. Adobe vs. ServiceNow: Which Technology Stock Is a Better Buy in 2026?

Insider Transactions at ServiceNow

In other news, 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 sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. Cantor Fitzgerald set a $130.00 price target on ServiceNow in a research report on Monday, June 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $121.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. DA Davidson reaffirmed a “buy” rating and issued a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Stifel Nicolaus dropped their price target on ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.