Vestcor Inc Acquires 61,712 Shares of ServiceNow, Inc. $NOW

Vestcor Inc boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 477.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 74,650 shares of the information technology services provider’s stock after buying an additional 61,712 shares during the period. Vestcor Inc’s holdings in ServiceNow were worth $11,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Liberty Square Wealth Partners LLC lifted its position in ServiceNow by 400.0% in the 4th quarter. Liberty Square Wealth Partners LLC now owns 2,390 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 1,912 shares in the last quarter. MCF Advisors LLC lifted its position in ServiceNow by 9,475.0% in the 4th quarter. MCF Advisors LLC now owns 383 shares of the information technology services provider’s stock valued at $59,000 after acquiring an additional 379 shares in the last quarter. Invst LLC lifted its position in ServiceNow by 397.7% in the 4th quarter. Invst LLC now owns 6,067 shares of the information technology services provider’s stock valued at $929,000 after acquiring an additional 4,848 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in ServiceNow by 400.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 130,291 shares of the information technology services provider’s stock valued at $19,959,000 after acquiring an additional 104,265 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. lifted its position in ServiceNow by 378.4% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 6,540 shares of the information technology services provider’s stock valued at $1,002,000 after acquiring an additional 5,173 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last 90 days. 0.34% of the stock is owned by company insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

Analysts Set New Price Targets

NOW has been the topic of several analyst reports. Mizuho lowered their price objective on ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $115.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Stifel Nicolaus decreased their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. TD Cowen reiterated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Evercore boosted their target price on shares of ServiceNow from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.85.

ServiceNow Trading Down 5.8%

NYSE:NOW opened at $112.45 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The business has a fifty day moving average price of $99.48 and a 200-day moving average price of $122.03. The firm has a market capitalization of $115.94 billion, a price-to-earnings ratio of 67.02, a price-to-earnings-growth ratio of 1.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the firm earned $0.81 EPS. ServiceNow’s revenue for the quarter was up 22.1% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 2.35 EPS for the current year.

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.