Kentucky Retirement Systems Purchases 51,904 Shares of ServiceNow, Inc. $NOW

Key Points

• Kentucky Retirement Systems boosted its ServiceNow stake by 400% in the fourth quarter, buying 51,904 additional shares and bringing its total holdings to 64,880 shares worth about $9.94 million.
• Several other institutional investors also increased their positions, and institutional ownership stands at 87.18%, indicating strong professional interest in the stock.
• Analysts remain broadly bullish on ServiceNow, with a consensus “Moderate Buy” rating and an average target price of $141.85, while the company recently beat revenue expectations and posted 22.1% year-over-year revenue growth.

Kentucky Retirement Systems lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,880 shares of the information technology services provider's stock after buying an additional 51,904 shares during the period. Kentucky Retirement Systems' holdings in ServiceNow were worth $9,939,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Peapack Gladstone Financial Corp increased its position in shares of ServiceNow by 505.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 10,638 shares of the information technology services provider's stock valued at $1,630,000 after buying an additional 8,881 shares in the last quarter. Florida Financial Advisors LLC increased its holdings in ServiceNow by 552.9% during the 4th quarter. Florida Financial Advisors LLC now owns 1,815 shares of the information technology services provider's stock worth $278,000 after purchasing an additional 1,537 shares in the last quarter. Redwood Financial Network Corp increased its holdings in ServiceNow by 400.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,850 shares of the information technology services provider's stock worth $437,000 after purchasing an additional 2,280 shares in the last quarter. Rothschild Wealth LLC bought a new position in ServiceNow during the 4th quarter worth about $310,000. Finally, Waterloo Capital L.P. increased its holdings in ServiceNow by 384.1% during the 4th quarter. Waterloo Capital L.P. now owns 20,095 shares of the information technology services provider's stock worth $3,078,000 after purchasing an additional 15,944 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares of the company's stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Cantor Fitzgerald lowered their target price on ServiceNow to $122.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. BTIG Research reiterated a "buy" rating and set a $150.00 target price on shares of ServiceNow in a report on Monday, May 4th. Citigroup increased their target price on ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. DA Davidson reiterated a "buy" rating and set a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Evercore increased their target price on ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $141.85.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

ServiceNow Trading Up 0.2%

ServiceNow stock opened at $124.56 on Monday. The firm has a 50-day moving average of $98.05 and a 200-day moving average of $123.39. ServiceNow, Inc. has a one year low of $81.24 and a one year 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 company has a market cap of $128.42 billion, a price-to-earnings ratio of 74.23, a P/E/G ratio of 2.05 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business posted $0.81 EPS. The company's quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts expect that ServiceNow, Inc. will post 2.36 earnings per share for the current fiscal year.

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.

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