Scge Management L.P. Increases Stock Holdings in ServiceNow, Inc. $NOW

15 Jun 2026, 11:24 by Renee Jackson · The Cerbat Gem

Scge Management L.P. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 400.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,135,000 shares of the information technology services provider’s stock after buying an additional 908,000 shares during the period. ServiceNow makes up about 4.0% of Scge Management L.P.’s portfolio, making the stock its 12th largest position. Scge Management L.P.’s holdings in ServiceNow were worth $173,871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NOW. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 81,752,460 shares during the last quarter. State Street Corp boosted its position in shares of ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares during the last quarter. Morgan Stanley boosted its position in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after buying an additional 17,514,679 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $2,020,992,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NOW. Cantor Fitzgerald cut their target price on ServiceNow to $122.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $157.00 target price on shares of ServiceNow in a research report on Tuesday, May 5th. Evercore lifted their target price on ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group dropped their price target on ServiceNow from $188.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Wolfe Research set a $125.00 price target on ServiceNow in a 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.85.

Read Our Latest Stock Analysis on ServiceNow

ServiceNow News Summary

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 Stock Performance

Shares of ServiceNow stock opened at $102.34 on Monday. The business’s fifty day simple moving average is $99.80 and its 200 day simple moving average is $119.74. The firm has a market capitalization of $105.51 billion, a P/E ratio of 60.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. 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 – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The business 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%.ServiceNow’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. As a group, analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction on 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 sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Company Profile

(Free Report)

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.