ServiceNow, Inc. (NYSE: NOW) provides cloud-based software that helps companies automate workflows and improve digital operations. It has become one of the most important players in enterprise software, recently trading above $900 per share with a market cap of about $190 billion. Once a niche platform for IT service management, ServiceNow has expanded into a full suite of digital workflow tools that power some of the world’s largest companies.
The company’s platform is deeply embedded in enterprise operations, giving it a sticky customer base and significant pricing power. Analysts expect double-digit growth to continue as ServiceNow pushes into areas like AI-driven automation, employee experience, and cybersecurity. These advantages have positioned the company as a core holding for institutions, from index funds to long-term active managers.
While founder ownership is minimal today, ServiceNow’s shareholder base is dominated by asset managers, pension funds, and hedge funds, reflecting its status as a global enterprise software leader.
Looking at who owns ServiceNow and how insiders are trading shares gives investors a sense of how the big money views the stock today.
Who Are ServiceNow’s Top Shareholders?
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ServiceNow develops cloud-based software that helps companies automate and streamline digital workflows. Most of its stock is held by passive giants, with index flows providing stability. Active managers have made mixed moves, which may reflect divided confidence in the stock’s near-term upside.
- The Vanguard Group: 19.8M shares (9.5%), ~$17.6B. Added 395K (+2.0%).
- BlackRock Institutional Trust: 11.3M shares (5.4%), ~$10.0B. Trimmed 206K (-1.8%).
- State Street Global Advisors: 9.3M shares (4.5%), ~$8.3B. Added 154K (+1.7%).
- T. Rowe Price Associates: 7.1M shares (3.4%), ~$6.3B. Cut 304K (-4.1%).
- JPMorgan Asset Management: 4.7M shares (2.3%), ~$4.2B. Reduced 502K (-9.6%).
- Jennison Associates: 2.4M shares (1.1%), ~$2.1B. Added 369K (+18%).
One highlight from last quarter is Jane Street Group’s sharp move, lifting its ServiceNow stake by 317% to about 113K shares worth $116 million. That kind of increase suggests the fund sees renewed upside after the recent pullback.
Another notable addition came from Steven Schonfeld’s firm, Schonfeld Strategic Advisors, which boosted its holdings by 176% to nearly 20K shares valued at $20 million. This may reflect growing confidence in ServiceNow’s long-term growth potential.
Passive giants like Vanguard, BlackRock, and State Street provide stability, while Jennison’s increase shows conviction from a long-term growth manager. At the same time, Jane Street and Schonfeld’s sharp additions highlight tactical hedge fund interest. Offsetting these moves, T. Rowe and JPMorgan’s cuts point to caution. The overall picture is that institutions remain committed but are split on how much near-term upside remains.
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ServiceNow’s Recent Insider Trades
Insider trading activity can often give a window into how executives view their company’s stock, even if the moves appear small.
For ServiceNow, insiders have been selling. These sales may be part of scheduled plans or diversification, but the lack of insider buying could suggest leadership is cautious about adding more exposure at current prices.
Here are some recent insider sales:
- Russell Elmer (Officer): Sold 1,698 shares at ~$884 and 1,329 at ~$867.
- Paul Fipps (Officer): Sold 1,452 shares at ~$895.
- William McDermott (CEO): Sold 1,585 shares at $900.
- Gina Mastantuono (CFO): Sold 1,762 shares at ~$866.
- Jacqueline Canney (Officer): Sold 1,562 shares at ~$866.
- Nicholas Tzitzon (Officer): Sold 1,719 shares at ~$866.
The selling so far has been small compared to overall holdings, but with no insiders stepping in to buy, it may signal that management is comfortable holding steady rather than increasing their exposure at current prices.
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What the Ownership & Insider Trade Data Tell Us
ServiceNow’s ownership is anchored by passive giants like Vanguard, BlackRock, and State Street, which helps keep the stock widely held in global portfolios. Active managers are split, with firms like T. Rowe and JPMorgan reducing exposure, while others such as Jennison, Jane Street, and Schonfeld have added shares. This mix suggests institutions remain committed but have differing views on near-term upside.
Insider activity, on the other hand, has leaned only toward selling. The transactions have been modest in size, yet the absence of insider buying may hint that leadership is comfortable with current exposure and not signaling that the stock looks undervalued.
ServiceNow remains a core institutional holding supported by passive flows, but insider sales and mixed active fund moves point to a more cautious tone around today’s valuation.
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