ServiceNow Rises as Investors Reassess Recent Selloff and AI Growth Story

ServiceNow (NOW) is up 3.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to a rebound after a sharp pullback earlier this week, with investors returning to a software name that still has strong AI growth positioning and fresh bullish analyst target increases behind it. A single new catalyst is not obvious today, so the gain likely reflects sentiment improving after the prior selloff rather than one headline alone.

Details:

ServiceNow shares were recently pressured during a broader enterprise-software reset after Meta introduced a new enterprise AI push, which may have left the stock positioned for a bounce as that reaction cooled.

Wall Street sentiment remained supportive in September, with multiple firms lifting price targets, including increases to $155 from Deutsche Bank and Needham and to $170 from BTIG.

ServiceNow’s latest quarterly materials highlighted continued AI traction, including more than $1 billion in AI annual contract value and strong net new AI contract growth.

The company has also kept releasing partnership and platform announcements around enterprise AI, reinforcing the view that it remains one of the better-positioned large software vendors in workflow automation.

Sources:

ServiceNow Investor Relations, ServiceNow Newsroom, MarketScreener, Yahoo Finance

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$NOW Insider Trading Activity

$NOW insiders have traded $NOW stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.

Here’s a breakdown of recent trading of $NOW stock by insiders over the last 6 months:

ANITA M SANDS sold 16,445 shares for an estimated $1,482,401
JACQUELINE P CANNEY (Chief People & AI Enblmt. Off.) sold 8,927 shares for an estimated $799,868
PAUL EDWARD CHAMBERLAIN has made 0 purchases and 3 sales selling 5,700 shares for an estimated $685,096.
TERESA BRIGGS sold 1,595 shares for an estimated $173,376
PAUL FIPPS (President, Global Customer Ops) sold 1,048 shares for an estimated $103,238

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$NOW Hedge Fund Activity

We have seen 1,228 institutional investors add shares of $NOW stock to their portfolio, and 1,036 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

PRICE T ROWE ASSOCIATES INC /MD/ removed 18,043,553 shares (-52.9%) from their portfolio in Q2 2026, for an estimated $1,791,363,941
JPMORGAN CHASE & CO added 13,949,279 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,384,884,419
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 8,080,617 shares (+inf%) to their portfolio in Q2 2026, for an estimated $802,243,655
SG AMERICAS SECURITIES, LLC added 5,062,556 shares (+744.8%) to their portfolio in Q2 2026, for an estimated $502,610,559
WELLINGTON MANAGEMENT GROUP LLP removed 4,905,136 shares (-89.3%) from their portfolio in Q2 2026, for an estimated $486,981,902
TWO SIGMA INVESTMENTS, LP removed 4,533,997 shares (-97.8%) from their portfolio in Q2 2026, for an estimated $450,135,222
EDGEWOOD MANAGEMENT LLC removed 4,215,235 shares (-99.9%) from their portfolio in Q2 2026, for an estimated $418,488,530

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$NOW Government Contracts

We have seen $749,146 of award payments to $NOW over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

SOFTWARE LICENSE RENEWAL: $749,146

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$NOW Congressional Stock Trading

Members of Congress have traded $NOW stock 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $NOW stock by members of Congress over the last 6 months:

REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 04/24.
REPRESENTATIVE GILBERT RAY CISNEROS, JR. sold up to $15,000 on 04/14.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$NOW Price Targets

Multiple analysts have issued price targets for $NOW recently. We have seen 29 analysts offer price targets for $NOW in the last 6 months, with a median target of $134.0.

Here are some recent targets:

Miller Jump from Truist Securities set a target price of $130.0 on 07/09/2026
Kash Rangan from Goldman Sachs set a target price of $145.0 on 07/09/2026
John Difucci from Guggenheim set a target price of $125.0 on 07/01/2026
Allan Verkhovski from BTIG set a target price of $150.0 on 06/29/2026
Yi Fu Lee from Benchmark set a target price of $130.0 on 06/15/2026
Tal Liani from B of A Securities set a target price of $130.0 on 05/18/2026
Peter Weed from Bernstein set a target price of $236.0 on 05/06/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.