Louisiana State Employees Retirement System Purchases Shares of 53,300 ServiceNow, Inc. $NOW

Key Points

• Louisiana State Employees Retirement System opened a new position in ServiceNow during the first quarter, buying 53,300 shares valued at about $5.57 million.
• ServiceNow has also seen broad institutional interest, with 87.18% of its stock owned by institutional investors, even as some insiders recently sold shares.
• Analysts remain generally bullish on the stock: the consensus rating is Moderate Buy, though several firms recently cut price targets amid ongoing valuation pressure and tech-sector volatility.

Louisiana State Employees Retirement System purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,300 shares of the information technology services provider's stock, valued at approximately $5,573,000.

A number of other hedge funds have also recently made changes to their positions in NOW. IAG Wealth Partners LLC boosted its position in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after buying an additional 18 shares during the period. Noble Wealth Management PBC lifted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 135 shares during the period. Finally, Blueline Advisors LLC bought a new position in ServiceNow during the 4th quarter worth approximately $25,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction that occurred on 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 owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction that occurred on 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 of the company's stock, 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. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last ninety days. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on NOW shares. Stifel Nicolaus lowered their price objective on ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Morgan Stanley cut their target price on shares of ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. HSBC lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.17.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a market rotation into software, with the stock trading near the top of the S&P 500 alongside peers like Workday and AppLovin as investors favor software over chips. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Positive Sentiment: Oppenheimer reiterated an Outperform rating and $130 price target, citing AI growth and ServiceNow’s partnership with Cognizant, which supports expectations for a second-half 2026 reacceleration. Oppenheimer Reaffirms Bullish Outlook on ServiceNow (NOW) Amid AI Growth and Cognizant Partnership
• Positive Sentiment: Recent commentary argues ServiceNow remains a high-quality business trading at a discount, reinforcing the bullish valuation case if growth stays steady. ServiceNow: An Excellent Business Trading at a Discount
• Neutral Sentiment: Industry coverage and comparisons versus Salesforce highlight that ServiceNow’s revenue growth has been more consistent, but the articles are mostly informational rather than a direct catalyst. Salesforce vs. ServiceNow: What Do Their Revenue Trends Tell Investors?
• Neutral Sentiment: HCLTech’s expanded work with Google Cloud and ServiceNow on AI agents adds ecosystem momentum, but it is not a direct financial update for NOW. HCLTech unveils AI agents on Gemini Enterprise with Google Cloud, ServiceNow
• Negative Sentiment: The recent pullback in tech and AI stocks, especially semiconductors, has kept valuation pressure on the broader sector and likely contributed to recent volatility in ServiceNow shares. Palantir Joins Software Stock Rally Amid Semiconductor, Tech Sell-Off

ServiceNow Stock Performance

Shares of NOW stock opened at $98.64 on Friday. The company's fifty day moving average price is $100.10 and its 200-day moving average price is $115.27. The stock has a market cap of $101.70 billion, a PE ratio of 58.79, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94. 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, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analyst estimates of $3.75 billion. During the same period last year, the business earned $0.81 EPS. ServiceNow's quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current fiscal 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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