CEO William R. McDermott buys $3 million of ServiceNow, Inc. (NOW)

William R. McDermott, chief executive of ServiceNow, Inc., bought 28,682 shares on the open market on February 27, 2026 at an average of $104.60 a share, for a total of $3 million. The purchase was reported to the SEC on Form 4 on March 2, 2026.

It raised their holding by 22%, to 158,234 shares.

The purchase came after a fall: ServiceNow, Inc. stock was down 36.8% over the 13 weeks before.

In the 12 months up to this filing, ServiceNow, Inc. insiders reported 1 open-market purchase and 4 sales.

WallStPal Score: 62 out of 100, because of raised their holding by 22%; a large purchase; the stock had fallen 36.8% in the 13 weeks before; bought by a top executive.

What happened next: after 1 month the stock was up 0.1% (6 points better than the S&P 500); after 3 months the stock was up 18.9% (9.2 points better than the S&P 500); after 6 months the stock was up 22.8% (11.7 points better than the S&P 500). Based on weekly prices from the week of the purchase.

Our read

The first open-market purchase by William R. McDermott in our records, made after a 36.8% fall in 13 weeks, a setup where insider buying has historically mattered most. A single purchase is a data point, not a forecast: insiders can be early, and sometimes simply wrong.

Source: SEC Form 4 filing ↗. This story was written automatically from the filing and weekly price data. Information, not investment advice.

Examples

Big insider purchases have made news before. In January 2016, with bank stocks falling, JPMorgan Chase CEO Jamie Dimon bought 500,000 JPMorgan shares, about $26 million of his own money, and the purchase was widely reported as a sign of confidence.

Explain it like I'm 13

William R. McDermott helps run ServiceNow, Inc.. Spending $3 million of their own money on the company's stock is like a coach buying a big stack of tickets to their own team's games: it suggests they think the team will do well. It is not a promise, and insiders can be wrong.

More: all NOW insider trades · William R. McDermott's track record