Teachers Retirement System of The State of Kentucky Grows Stock Holdings in ServiceNow, Inc. $NOW

Teachers Retirement System of The State of Kentucky grew its position in ServiceNow, Inc. (NYSE:NOW) by 27.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 347,960 shares of the information technology services provider’s stock after buying an additional 73,960 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ServiceNow were worth $36,379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NOW. Noble Wealth Management PBC boosted its holdings in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 128 shares during the period. Millstone Evans Group LLC lifted its position in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Blueline Advisors LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at approximately $25,000. Finally, Measured Wealth Private Client Group LLC grew its holdings in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow rallied after reports that a large international electronics company is teaming up with the company on a new AI-powered product that will be available on ServiceNow’s platform, reinforcing its role in enterprise AI. Why ServiceNow Stock Crushed it on Thursday
• Positive Sentiment: Truist Financial raised its price target on ServiceNow from $120 to $130 and kept a buy rating, signaling continued analyst confidence in the company’s growth prospects. Benzinga report on Truist price target increase
• Positive Sentiment: Investor sentiment around software improved as AI spending expectations shifted in favor of application software, helping ServiceNow participate in the broader rotation toward software names. Chip Stocks Drop 12% as Software Rebounds in AI Trade Shift
• Neutral Sentiment: Several market updates described ServiceNow as consolidating or trading flat while investors digested the AI partnership news and a more constructive analyst tone, suggesting a pause after the recent move rather than a fresh fundamental shift. ServiceNow Stock Consolidates as Accenture Launches Agentic AI Offerings
• Negative Sentiment: Friday trading saw ServiceNow slip as investors appeared to take profits and reassess whether the recent AI enthusiasm has already been priced in. ServiceNow Stock Falls Friday: What’s Going On?

Insiders Place Their Bets

In related 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 value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,071 shares of company stock worth $2,529,956 in the last three months. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Up 0.1%

ServiceNow stock opened at $107.81 on Monday. The stock has a market cap of $111.16 billion, a PE ratio of 64.25, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s fifty day moving average is $102.49 and its two-hundred day moving average is $110.95. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. HSBC cut their target price 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. Truist Financial boosted their price target on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James Financial dropped their price target on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price objective on ServiceNow in a research report on Thursday, April 23rd. Finally, Canaccord Genuity Group reduced their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average target price of $141.47.

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.