PensionDanmark Pensionsforsikringsaktieselskab 13F: Cuts NOW Stake by $4M

PensionDanmark cut its stake in ServiceNow, Inc. (NOW) by 29,504 shares during the period, according to a Form 13F filed with the Securities and Exchange Commission on October 19, 2026. The reduction represents a 12.2% decrease from the fund's previous holding. ServiceNow closed at $141.97 on October 16, 2026. Prior to the trade, the fund owned 241,641 shares.

NOW ServiceNow, Inc.

$141.97 ▼ -3.72% year to date

1M 3M YTD

Daily close · Oct 16, 2026

What Changed in PensionDanmark's ServiceNow Position

Following the reduction, PensionDanmark holds 211,637 shares of ServiceNow, valued at approximately $28.4 million. The trimming lowered the portfolio's exposure to the cloud software provider by 12.2% compared to the prior quarter's total. ServiceNow shares traded at $145.37 as of October 20, 2026.

ServiceNow, Inc. Stock Up 2.4%

ServiceNow shares recently traded around $145.37, up about 2.4% from the event close of $141.97 on October 16, 2026. The stock sits 8.7% above its 50-day moving average of $133.73 and 26.3% above its 200-day moving average of $115.13. The shares have traded in a 52-week range between $81.24 and $192.97. ServiceNow carries a market capitalization of $153.6 billion and a forward price-to-earnings ratio of 29.67, with a trailing P/E ratio of 86.38.

Recent Earnings

ServiceNow reported trailing twelve-month revenue of $14.73 billion and earnings of $1.72 per share. The company posted a 24.0% year-over-year revenue growth rate, alongside an 11.3% net margin and a 14.2% return on equity. The next earnings release is scheduled for October 28, 2026.

Insider Buying and Selling at ServiceNow, Inc.

Company insiders executed several sales ahead of the filing. Director Paul Edward Chamberlain sold 1,500 shares on August 13, 2026, at $125.60 per share for a total of $188,400, followed by another sale of 2,700 shares on August 27, 2026, at $135.50 per share worth $365,851. Officer Jacqueline P. Canney sold 7,847 shares on August 28, 2026, at $138.00 per share totaling $1,082,886. Additionally, officer Paul G. Fipps sold 2,034 shares on August 31, 2026, at $147.87 per share for $300,777.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock ahead of the filing date. On October 14, 2026, Citigroup maintained a Buy rating while lifting its target to $170.00 from $154.00. Mizuho maintained an Outperform rating on October 15, 2026, raising its target to $170.00 from $140.00. TD Cowen maintained a Buy rating on October 15, 2026, moving its target from $140.00 to $165.00. Piper Sandler maintained an Overweight rating on October 16, 2026, raising its target to $175.00 from $140.00. StoneX maintained a Buy rating on October 19, 2026, lifting its target to $165.00 from $130.00. ServiceNow holds a consensus recommendation of strong buy from 46 analysts, with a mean price target of $151.47.

About ServiceNow

ServiceNow, Inc. builds cloud platforms that automate digital workflows for businesses across North America, Europe, Asia, and other global regions. The company's tools help enterprises manage IT services, customer support, security operations, and employee workflows on a single unified platform. Institutional adjustments like PensionDanmark's recent cut arrive as investors weigh enterprise software demand against the company's valuation ahead of its late-October earnings update.

Bottom Line

Investors will look toward ServiceNow's upcoming earnings report on October 28, 2026, for fresh signals on cloud workflow demand. The stock currently holds a strong buy consensus among analysts despite recent insider transactions.