Canada Pension Plan Investment Board Takes $213.22 Million Position in ServiceNow, Inc. $NOW

Canada Pension Plan Investment Board bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,147,619 shares of the information technology services provider’s stock, valued at approximately $213,216,000. Canada Pension Plan Investment Board owned 0.21% of ServiceNow at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 34 shares during the last quarter. United Bank raised its position in shares of ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of ServiceNow by 2.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock valued at $1,976,000 after purchasing an additional 42 shares during the period. Finally, Nebula Research & Development LLC lifted its stake in shares of ServiceNow by 205.1% during the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after buying an additional 609 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

NYSE NOW opened at $125.68 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $129.95 billion, a P/E ratio of 78.55, a P/E/G ratio of 2.23 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. The firm has a 50-day moving average price of $110.48 and a two-hundred day moving average price of $106.06.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue was up 24.0% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the transaction, the director owned 46,690 shares in the company, valued at $5,864,264. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley set a $180.00 target price on shares of ServiceNow in a report on Tuesday, July 21st. DA Davidson set a $170.00 price objective on shares of ServiceNow and gave the stock a “buy” rating in a research report on Monday, July 20th. KeyCorp restated an “underweight” rating on shares of ServiceNow in a research report on Tuesday, July 21st. Bank of America boosted their price objective on ServiceNow from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its AI ecosystem through a multiyear partnership with Tech Mahindra, which is intended to scale enterprise AI deployments on the ServiceNow platform. The agreement supports the company’s positioning as an “AI control tower” and could drive additional platform adoption. ServiceNow In Focus Following Tech Mahindra AI Deal
• Positive Sentiment: Pricefx announced an integration that brings AI-powered pricing and deal optimization into ServiceNow sales workflows, including negotiation guidance, product recommendations and sales-agent capabilities. Such integrations may increase the platform’s usefulness and strengthen its enterprise software ecosystem. Pricefx Announces Integration with ServiceNow
• Positive Sentiment: Recent commentary remains bullish on ServiceNow’s AI growth potential, while CoreX, an elite ServiceNow partner, launched AI Horizon to help enterprises adopt AI-native workflows on the company’s platform. CoreX Launches AI Horizon
• Neutral Sentiment: Bank of America’s higher price targets for software stocks suggest improving sentiment toward the sector, although broader market futures were weaker and the benefit to NOW may be limited. Bank of America Raises Software Price Targets
• Negative Sentiment: ServiceNow shares moved lower as investors took profits following an approximately 29% one-month rally. Cooling momentum indicators and technical resistance near $150 have increased near-term selling pressure. What’s Going On With ServiceNow Stock Wednesday?
• Negative Sentiment: Investors are also assessing fair value after the rally, including the impact of a separate employee stock offering. ServiceNow’s elevated valuation leaves the stock vulnerable if AI monetization fails to accelerate.
• Negative Sentiment: Broader software-sector volatility, leveraged trading and concerns that AI-built applications could eventually displace traditional SaaS platforms are adding risk. Datadog was judged to have an edge over NOW on growth and earnings momentum, another potential rotation headwind. Momentum and Leveraged Trading Keep Software Stocks Volatile

ServiceNow 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.