North Dakota State Investment Board Makes New $5.43 Million Investment in ServiceNow, Inc. $NOW

North Dakota State Investment Board bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 35,435 shares of the information technology services provider’s stock, valued at approximately $5,428,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the period. State Street Corp raised its stake in ServiceNow by 1.4% during the third quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider’s stock worth $8,700,970,000 after purchasing an additional 131,080 shares during the period. Jennison Associates LLC raised its stake 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 purchasing an additional 6,213,762 shares during the period. Nordea Investment Management AB raised its stake in shares of ServiceNow by 388.7% in the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider’s stock valued at $720,325,000 after acquiring an additional 3,743,087 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of ServiceNow by 613.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider’s stock valued at $588,326,000 after acquiring an additional 3,301,962 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.1%

Shares of NOW stock opened at $95.15 on Monday. 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 stock has a market capitalization of $98.10 billion, a P/E ratio of 56.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. The company has a 50 day moving average price of $100.52 and a 200 day moving average price of $128.64. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion during 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 business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Fipps sold 9,641 shares of ServiceNow stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total value of $1,021,271.13. Following the completion of the transaction, the insider owned 11,757 shares in the company, valued at approximately $1,245,419.01. The trade was a 45.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow 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 of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,415 shares of company stock valued at $2,210,933 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Wells Fargo & Company reduced their price target on shares of ServiceNow from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Macquarie Infrastructure reduced their price target on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Finally, Robert W. Baird reduced their price target on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.71.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow’s Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

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.