ServiceNow, Inc. $NOW Shares Acquired by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 399.4% during the fourth quarter, Holdings Channel reports. The firm owned 133,365 shares of the information technology services provider’s stock after buying an additional 106,658 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ServiceNow were worth $20,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Palisade Asset Management LLC raised its position in shares of ServiceNow by 400.0% during the 4th quarter. Palisade Asset Management LLC now owns 1,535 shares of the information technology services provider’s stock worth $235,000 after purchasing an additional 1,228 shares during the period. Progressive Investment Management Corp grew its holdings in ServiceNow by 396.8% in the 4th quarter. Progressive Investment Management Corp now owns 51,603 shares of the information technology services provider’s stock worth $7,905,000 after buying an additional 41,215 shares in the last quarter. QVT Financial LP grew its holdings in ServiceNow by 89.6% in the 4th quarter. QVT Financial LP now owns 1,655 shares of the information technology services provider’s stock worth $254,000 after buying an additional 782 shares in the last quarter. Sands Capital Management LLC grew its holdings in ServiceNow by 208.4% in the 4th quarter. Sands Capital Management LLC now owns 3,842,914 shares of the information technology services provider’s stock worth $588,696,000 after buying an additional 2,596,637 shares in the last quarter. Finally, Seven Mile Advisory grew its holdings in ServiceNow by 270.1% in the 4th quarter. Seven Mile Advisory now owns 1,847 shares of the information technology services provider’s stock worth $283,000 after buying an additional 1,348 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen reissued a “buy” rating and issued a $140.00 price objective on shares of ServiceNow in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Bank of America started coverage on ServiceNow in a report on Monday, May 18th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Citigroup increased their price target on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $142.17.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $104.26 on Tuesday. The stock has a fifty day moving average price of $99.85 and a two-hundred day moving average price of $119.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $107.50 billion, a P/E ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. Research analysts forecast that ServiceNow, Inc. will post 2.35 EPS 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

Insider Buying and Selling

In other news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction 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 completion of the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This represents a 3.23% 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. In the last 90 days, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by 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.