Employees Provident Fund Board Makes New Investment in ServiceNow, Inc. $NOW

Employees Provident Fund Board bought a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,426,170 shares of the information technology services provider’s stock, valued at approximately $371,665,000. ServiceNow accounts for about 2.7% of Employees Provident Fund Board’s portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in ServiceNow by 404.5% during 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 period. State Street Corp lifted its stake in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after buying an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 404.8% during the fourth 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 acquiring an additional 18,854,775 shares during the period. Finally, Morgan Stanley grew its position in shares of ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 0.5%

Shares of NYSE:NOW opened at $95.51 on Friday. The company has a 50 day moving average of $99.56 and a 200-day moving average of $117.81. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market cap of $98.47 billion, a P/E ratio of 56.92, a P/E/G ratio of 1.58 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem through new partnerships with Wipro, Digimarc, and HPE, reinforcing demand for its platform in enterprise automation and AIOps. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Analyst-style coverage is constructive, with articles highlighting ServiceNow as a leading generative AI software name and citing strong buy ratings and upside potential from current levels. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Positive Sentiment: ServiceNow’s AI Control Tower is being viewed as a potential growth engine as enterprises look for governance and orchestration tools to manage expanding AI deployments. Can AI Control Tower Become ServiceNow’s Next Growth Engine?
• Positive Sentiment: New ecosystem announcements with Aria Systems and Cognizant suggest ServiceNow is deepening integration across telecom and multi-agent enterprise workflows, which could support future platform adoption. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Neutral Sentiment: Several AI infrastructure and industry commentary pieces underscore the broader demand for enterprise AI tools, but they are more thematic than directly tied to near-term ServiceNow financial results. Cloud AI Update – Exploring AI’s Future Infrastructure Challenges And Solutions
• Negative Sentiment: The Seeking Alpha piece arguing that the “AI threat is overstated” implies there is still debate about whether AI could pressure software vendors, though the article itself is more reassuring than alarming for ServiceNow. ServiceNow: The AI Threat Is Overstated

Insider Transactions at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 28,071 shares of company stock valued at $2,529,956. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the stock an “underweight” rating in a research report on Thursday, April 23rd. HSBC dropped their price target on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Piper Sandler cut their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Finally, Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.17.

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.