Cornerstone Wealth Group LLC Grows Holdings in ServiceNow, Inc. $NOW

Cornerstone Wealth Group LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 71.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,222 shares of the information technology services provider’s stock after acquiring an additional 20,157 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in ServiceNow were worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of NOW. Larry Mathis Financial Planning LLC grew its holdings in ServiceNow by 27.0% in the first quarter. Larry Mathis Financial Planning LLC now owns 3,598 shares of the information technology services provider’s stock worth $376,000 after purchasing an additional 764 shares during the period. Decision Investments Inc. purchased a new position in shares of ServiceNow during the first quarter valued at approximately $248,000. Pictet Asset Management Holding SA lifted its holdings in shares of ServiceNow by 58.3% during the first quarter. Pictet Asset Management Holding SA now owns 6,080,250 shares of the information technology services provider’s stock valued at $635,706,000 after purchasing an additional 2,239,988 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of ServiceNow by 95.4% in the 1st quarter. Sterling Capital Management LLC now owns 90,750 shares of the information technology services provider’s stock worth $9,488,000 after purchasing an additional 44,317 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. boosted its position in shares of ServiceNow by 5.7% in the 1st quarter. Beaumont Asset Management L.L.C. now owns 15,197 shares of the information technology services provider’s stock worth $1,589,000 after purchasing an additional 816 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

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

Insiders Place Their Bets

In related news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total value 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 position. The transaction was disclosed in a filing 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. 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 business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade 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 worth $2,529,956 over the last three months. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $236.00 price objective (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. HSBC dropped their target price on ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Capital One Financial increased their target price on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group reduced their price target on ServiceNow from $188.00 to $163.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Benchmark lifted their price target on ServiceNow from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.17.

ServiceNow Price Performance

Shares of NYSE NOW opened at $98.64 on Friday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The firm has a market cap of $101.70 billion, a P/E ratio of 58.79, a PEG ratio of 1.64 and a beta of 0.94. The company has a 50 day moving average of $100.10 and a 200 day moving average of $115.27. The company has a quick ratio of 0.84, a current 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, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, research analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

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.