OMERS ADMINISTRATION Corp Makes New Investment in ServiceNow, Inc. $NOW

OMERS ADMINISTRATION Corp acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 277,619 shares of the information technology services provider’s stock, valued at approximately $27,562,000.

A number of other large investors have also made changes to their positions in NOW. Covenant Asset Management LLC grew its stake in ServiceNow by 169.2% in the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after purchasing an additional 13,114 shares in the last quarter. Norges Bank bought a new position in ServiceNow during the 4th quarter worth approximately $2,020,992,000. World Investment Advisors increased its holdings in shares of ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after acquiring an additional 38,583 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock valued at $6,990,000 after acquiring an additional 36,274 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in ServiceNow by 53.3% during the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after purchasing an additional 353,749 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Analyst Upgrades and Downgrades

Several analysts have weighed in on NOW shares. Jefferies Financial Group reiterated a “buy” rating and set a $140.00 target price (up from $135.00) on shares of ServiceNow in a research note on Thursday, July 23rd. BMO Capital Markets boosted their price objective on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. UBS Group set a $248.00 target price on shares of ServiceNow in a research report on Thursday, July 23rd. Evercore reissued an “outperform” rating and set a $160.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Barclays reiterated an “overweight” rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the transaction, the director directly owned 46,690 shares in the company, valued at $5,864,264. The trade was a 3.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 0.2%

NOW stock opened at $128.73 on Monday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The firm has a market cap of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94. The firm has a 50 day simple moving average of $108.88 and a 200 day simple moving average of $105.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

About ServiceNow

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.