ServiceNow, Inc. sees major institutional investment and AI partnership expansion

ServiceNow, Inc. has seen significant activity from institutional investors, according to recent SEC filings. Several firms acquired new positions in the information technology services provider during the second quarter, including Callan Family Office LLC with a $4.53 million stake, Iyo Bank Ltd. with approximately $6.26 million, and Silvant Capital Management LLC with a $1.25 million position.

Other major institutional moves include Norges Bank acquiring a stake worth approximately $2.02 billion and William Blair Investment Management LLC acquiring a position valued at roughly $154 million. Overall, institutional investors hold approximately 87.18% of the company's stock.

In operational news, ServiceNow expanded its multi-year partnership with Tech Mahindra to facilitate the transition of enterprise AI projects from pilot stages to production. Additionally, Bank of America raised its price target for ServiceNow to $150.