California Public Employees Retirement System Sells 15,829 Shares of ServiceNow, Inc. $NOW

Key Points

• California Public Employees Retirement System trimmed its ServiceNow stake by 0.8% in the first quarter, selling 15,829 shares but still holding more than 2.05 million shares valued at about $214.6 million.
• Wall Street remains broadly positive on ServiceNow, with several firms reaffirming or raising ratings and price targets; the stock currently carries an average Moderate Buy rating and a $141.03 target price.
• Recent trading activity shows insider selling, including director Anita M. Sands and insider Jacqueline P. Canney, while ServiceNow’s latest earnings matched EPS expectations and revenue rose 22.1% year over year.

California Public Employees Retirement System lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,052,388 shares of the information technology services provider's stock after selling 15,829 shares during the period. California Public Employees Retirement System owned 0.20% of ServiceNow worth $214,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NOW. Florida Financial Advisors LLC grew its position in shares of ServiceNow by 5.4% during the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after purchasing an additional 14 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock worth $473,000 after purchasing an additional 18 shares in the last quarter. American Trust boosted its stake in ServiceNow by 1.8% in the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider's stock worth $947,000 after purchasing an additional 18 shares during the period. Morse Asset Management Inc boosted its stake in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock worth $3,586,000 after purchasing an additional 19 shares during the period. Finally, CYBER HORNET ETFs LLC grew its holdings in ServiceNow by 3.7% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock valued at $522,000 after buying an additional 20 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. DA Davidson reiterated a "buy" rating and set a $190.00 price objective on shares of ServiceNow in a research report on Tuesday, May 5th. Royal Bank Of Canada restated an "outperform" rating and set a $130.00 target price on shares of ServiceNow in a research report on Thursday. Barclays reaffirmed an "overweight" rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Evercore boosted their price target on shares of ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Finally, HSBC dropped their price objective on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating for the company in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $141.03.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: TD Cowen reaffirmed its buy rating on ServiceNow and set a $140 price target, implying meaningful upside from current levels. Benzinga report on TD Cowen rating
• Positive Sentiment: BNP Paribas and RBC Capital both raised their views on ServiceNow ahead of earnings, citing conservative guidance, improving channel feedback, and stronger demand signals. ServiceNow (NOW) Stock Receives Dual Upgrades Ahead of Q2 Results
• Positive Sentiment: Several analysts argue ServiceNow could benefit from continued AI adoption and subscription growth, which may help support an earnings beat or solid outlook when Q2 results are reported. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Neutral Sentiment: Media coverage comparing ServiceNow with UiPath highlights agentic AI as a major long-term opportunity, but this is more of a strategic theme than an immediate catalyst. UiPath Vs. ServiceNow: Which Agentic AI Stock Is the Better Buy?
• Negative Sentiment: Some analysts and commentators warn that rising costs, competition, and still-rich valuation multiples could limit upside if Q2 results or guidance disappoint. ServiceNow Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
• Negative Sentiment: ServiceNow remains down sharply over the past year, and some investors still question whether the stock deserves a premium multiple after the selloff. Can ServiceNow (NOW) Trade At A Premium After A 46% Drop?

Insider Activity

In related news, 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 transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction dated Friday, April 24th. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $103.40 on Friday. The stock has a market cap of $106.60 billion, a price-to-earnings ratio of 61.62, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. 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 50 day moving average price of $103.97 and a 200-day moving average price of $109.58. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $210.20.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. Equities analysts expect that ServiceNow, Inc. will post 2.34 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.

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