VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 39,600 Shares of ServiceNow, Inc. $NOW

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in ServiceNow, Inc. (NYSE:NOW) by 400.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,500 shares of the information technology services provider’s stock after purchasing an additional 39,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in ServiceNow were worth $7,583,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Northeast Investment Management increased its holdings in shares of ServiceNow by 299.6% in the fourth quarter. Northeast Investment Management now owns 114,761 shares of the information technology services provider’s stock worth $17,580,000 after purchasing an additional 86,042 shares during the period. Pathway Capital Management LP bought a new position in ServiceNow in the fourth quarter valued at $1,954,000. Hartford Investment Management Co. increased its stake in ServiceNow by 393.8% in the fourth quarter. Hartford Investment Management Co. now owns 60,170 shares of the information technology services provider’s stock valued at $9,217,000 after acquiring an additional 47,984 shares during the last quarter. Seelaus Asset Management LLC bought a new position in ServiceNow in the fourth quarter valued at $649,000. Finally, Empire Life Investments Inc. increased its stake in ServiceNow by 393.2% in the fourth quarter. Empire Life Investments Inc. now owns 88,675 shares of the information technology services provider’s stock valued at $13,584,000 after acquiring an additional 70,695 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 2.1%

Shares of NYSE:NOW opened at $87.11 on Thursday. The stock’s 50-day moving average price is $101.35 and its 200-day moving average price is $129.98. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The stock has a market capitalization of $89.81 billion, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 1.58 and a beta of 0.82. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last announced 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm 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 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Raymond James Financial reduced their target price on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. BTIG Research restated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a report on Monday, May 4th. Oppenheimer set a $130.00 price objective on shares of ServiceNow and gave the stock an “outperform” rating in a report on Wednesday, April 15th. DA Davidson restated a “buy” rating and issued a $190.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Macquarie Infrastructure lowered their price objective on shares of ServiceNow from $172.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.71.

Insider Buying and Selling

In related news, insider Paul Fipps sold 3,696 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.77, for a total value of $376,141.92. Following the sale, the insider directly owned 8,061 shares of the company’s stock, valued at $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,815 shares of company stock valued at $2,358,927 over the last ninety days. 0.34% of the stock is owned by insiders.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi and launched the Workflow Data Network Passport Program, which should improve real-time data activation across enterprise systems and strengthen its pitch as an AI “control tower” for large customers. ServiceNow And Boomi Deepen Ties To Power AI Control Tower Ambitions
• Positive Sentiment: ServiceNow was also highlighted in a roundup of top agentic AI stocks, signaling that market watchers continue to see upside in the company’s AI platform positioning. 5 Best Agentic AI Stocks to Buy Right Now
• Positive Sentiment: Analyst and media coverage remains constructive overall, with ServiceNow repeatedly showing up in “buy now” and featured stock lists, which can support sentiment around the name. Is Trending Stock ServiceNow, Inc. (NOW) a Buy Now?
• Neutral Sentiment: A small insider sale by Paul Fipps was disclosed, but it was done under a pre-arranged 10b5-1 plan and is unlikely to be a major trading signal. SEC insider filing for Paul Fipps
• Negative Sentiment: Some investors may also be weighing broader concerns around valuation and financing after reports that ServiceNow plans a large bond sale, which could temper enthusiasm despite the company’s solid operating momentum. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale

About ServiceNow

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.