Public Employees Retirement Association of Colorado Boosts Stake in ServiceNow, Inc. $NOW

Public Employees Retirement Association of Colorado raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 399.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,365 shares of the information technology services provider’s stock after acquiring an additional 106,658 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ServiceNow were worth $20,430,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Norges Bank purchased a new position in ServiceNow in the fourth quarter valued at about $2,020,992,000. Cohen Klingenstein LLC boosted its holdings in ServiceNow by 400.0% in the fourth quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock valued at $1,532,000 after purchasing an additional 8,000 shares during the last quarter. World Investment Advisors boosted its holdings in ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,218,000 after purchasing an additional 38,583 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in ServiceNow by 387.7% in the fourth quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in ServiceNow by 385.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock valued at $398,202,000 after purchasing an additional 2,064,440 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 2.1%

Shares of NYSE NOW opened at $104.26 on Tuesday. The stock’s 50 day moving average price is $99.85 and its two-hundred day moving average price is $119.31. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. The stock has a market capitalization of $107.50 billion, a P/E ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. ServiceNow’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and kept a Buy rating, signaling confidence that the stock has meaningful upside from current levels.
• Positive Sentiment: Another report noted ServiceNow has an average analyst recommendation of Moderate Buy, reinforcing a broadly constructive Wall Street view of the company.
• Positive Sentiment: IBM’s expanded ServiceNow partnership was highlighted as a way to accelerate enterprise AI adoption, which could bolster ServiceNow’s platform relevance and long-term growth narrative. Can IBM’s Extended ServiceNow Deal Accelerate Enterprise AI Adoption?
• Neutral Sentiment: ServiceNow was described as a candidate to benefit from AI-driven workflow automation, but the commentary was more of a business thesis than a concrete catalyst. ServiceNow: A 7.0 Score in a Shifting AI Landscape
• Neutral Sentiment: ServiceNow outperformed the broader market in the latest session, but the move appeared tied to general momentum and analyst sentiment rather than a major company-specific announcement. ServiceNow (NOW) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Multiple articles compared ServiceNow with Salesforce and said CRM currently has the edge thanks to stronger Agentforce momentum, rising earnings estimates, and a lower valuation, which may pressure NOW’s relative appeal. ServiceNow vs. Salesforce: Which Cloud Software Stock Has an Edge Now?
• Negative Sentiment: A broader software-industry note said SaaS stocks have been under pressure over the past six months, a backdrop that can weigh on ServiceNow’s valuation even when company-specific news is positive. 1 Software Stock with Exciting Potential and 2 Facing Headwinds

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NOW. Capital One Financial increased their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. reduced their price target on ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. BNP Paribas Exane raised ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Monday, March 16th. Raymond James Financial reduced their price target on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, BTIG Research restated a “buy” rating and set a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.17.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by corporate insiders.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.