California Public Employees Retirement System Reduces Stock Position in ServiceNow, Inc. $NOW

California Public Employees Retirement System lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,052,388 shares of the information technology services provider’s stock after selling 15,829 shares during the quarter. California Public Employees Retirement System’s holdings in ServiceNow were worth $214,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Florida Financial Advisors LLC grew its holdings in shares of ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock worth $280,000 after purchasing an additional 14 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock worth $473,000 after buying an additional 18 shares during the period. American Trust lifted its holdings in ServiceNow by 1.8% during the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock valued at $947,000 after buying an additional 18 shares in the last quarter. Morse Asset Management Inc lifted its holdings in ServiceNow by 0.5% during the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider’s stock valued at $3,586,000 after buying an additional 19 shares in the last quarter. Finally, CYBER HORNET ETFs LLC boosted its position in ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider’s stock valued at $522,000 after buying an additional 20 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

ServiceNow Trading Down 0.6%

NYSE:NOW opened at $103.40 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20. 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 $106.60 billion, a P/E ratio of 61.62, a P/E/G ratio of 1.73 and a beta of 0.96. The firm has a 50-day simple moving average of $103.97 and a 200-day simple moving average of $109.58.

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, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 2.34 EPS for the current fiscal year.

Insider Buying and Selling

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 value 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 legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction 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 approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 over the last quarter. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NOW. Piper Sandler dropped their target price on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Raymond James Financial dropped their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Citigroup restated a “buy” rating and set a $156.00 price objective (down from $158.00) on shares of ServiceNow in a report on Wednesday. Finally, TD Cowen reaffirmed a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.03.

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.