Kentucky Retirement Systems Has $9.94 Million Stock Position in ServiceNow, Inc. $NOW

Kentucky Retirement Systems boosted its position in ServiceNow, Inc. (NYSE:NOW) by 400.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 64,880 shares of the information technology services provider’s stock after purchasing an additional 51,904 shares during the period. Kentucky Retirement Systems’ holdings in ServiceNow were worth $9,939,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NOW. Vanguard Group Inc. lifted its stake in ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Norges Bank acquired a new stake in ServiceNow in the 4th quarter valued at about $2,020,992,000. Fisher Asset Management LLC lifted its stake in ServiceNow by 404.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock valued at $1,279,416,000 after purchasing an additional 6,695,802 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in ServiceNow by 280.1% during the fourth quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider’s stock worth $1,291,758,000 after acquiring an additional 6,213,762 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow’s stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume (NYSE:NOW)

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho cut their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Barclays restated an “overweight” rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research report on Tuesday, May 5th. Citigroup raised their price objective on shares of ServiceNow from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Stifel Nicolaus cut their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Citic Securities cut their price objective on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.85.

ServiceNow Stock Up 0.2%

Shares of NOW opened at $124.56 on Monday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. The firm’s 50 day moving average is $98.05 and its 200-day moving average is $123.39. The stock has a market capitalization of $128.42 billion, a PE ratio of 74.23, a P/E/G ratio of 2.05 and a beta of 0.94. The company has a current ratio of 0.84, a quick 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 analysts’ consensus estimates of $0.97. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 2.36 EPS for the current year.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. 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. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

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.