Vanguard Group Inc. increased its stake in ServiceNow by 404.5% during the fourth quarter. The firm now holds over 101.9 million shares, representing a 9.82% ownership stake valued at $15.62 billion. Total institutional ownership of the company currently stands at approximately 87%.
ServiceNow reported strong first-quarter earnings on April 22, exceeding both revenue and EPS estimates. However, the market reacted negatively to concerns over near-term margin pressure from the Armis acquisition and rising AI investment costs. Delays in several large deals in the Middle East also weighed on the stock price.
Vanguard’s expanded position, disclosed in a report on April 26, 2026, signals strong institutional conviction in ServiceNow’s fundamental strengths. This move highlights confidence in the company's accelerating AI adoption and strategic acquisitions. Analysts currently maintain a consensus Moderate Buy rating for the stock.