State of Wisconsin Investment Board Has $82.54 Million Stock Holdings in ServiceNow, Inc. $NOW

State of Wisconsin Investment Board grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 371.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 538,803 shares of the information technology services provider’s stock after buying an additional 424,429 shares during the quarter. State of Wisconsin Investment Board’s holdings in ServiceNow were worth $82,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in ServiceNow in the fourth quarter worth about $2,020,992,000. Cohen Klingenstein LLC grew its position in shares of ServiceNow by 400.0% during the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after buying an additional 8,000 shares during the period. World Investment Advisors grew its position in shares of ServiceNow by 411.7% during the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after buying an additional 38,583 shares during the period. Moors & Cabot Inc. grew its position in shares of ServiceNow by 387.7% during the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after buying an additional 36,274 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after buying an additional 2,064,440 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NOW shares. Citic Securities decreased their target price on ServiceNow from $168.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Argus decreased their target price on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. FBN Securities decreased their target price on ServiceNow from $160.00 to $120.00 in a research report on Thursday, April 23rd. Jefferies Financial Group restated a “buy” rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a research report on Thursday, April 23rd. Finally, TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.17.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling confidence in further upside after recent analyst conversations. Street Insider article
• Positive Sentiment: ServiceNow announced or expanded AI-focused partnerships with Cognizant and Wipro to help enterprises move from AI pilots to full-scale deployment, which supports the company’s growth narrative around agentic AI workflows. Cognizant partnership article Wipro partnership article
• Positive Sentiment: Recent coverage also noted that ServiceNow has gained more than 16% over the past month, suggesting improving investor sentiment around its AI and enterprise workflow strategy. Yahoo Finance article
• Neutral Sentiment: Market articles highlighted ServiceNow’s recent outperformance versus the broader market in a prior session, but did not point to a new company-specific catalyst. MarketBeat/Zacks article
• Neutral Sentiment: Some commentary compared ServiceNow unfavorably with Salesforce on valuation and earnings momentum, which may keep pressure on the stock’s multiple. Zacks article
• Negative Sentiment: A report about a ServiceNow security breach exposing enterprise customer data could raise concerns about trust, compliance, and customer retention. CPO Magazine article

ServiceNow Trading Down 2.6%

NYSE:NOW opened at $101.45 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. 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 has a market capitalization of $104.59 billion, a PE ratio of 60.46, a price-to-earnings-growth ratio of 1.72 and a beta of 0.94. The business’s 50-day simple moving average is $99.84 and its 200-day simple moving average is $118.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.81 EPS. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

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.