Maryland State Retirement & Pension System Purchases 41,224 Shares of ServiceNow, Inc. $NOW

Maryland State Retirement & Pension System lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 51,530 shares of the information technology services provider's stock after purchasing an additional 41,224 shares during the quarter. Maryland State Retirement & Pension System's holdings in ServiceNow were worth $7,894,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. IAG Wealth Partners LLC lifted its position in ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares in the last quarter. Noble Wealth Management PBC lifted its position in ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after buying an additional 128 shares in the last quarter. Millstone Evans Group LLC lifted its position 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 worth $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position 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 worth $25,000 after buying an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC acquired a new position in ServiceNow during the 4th quarter worth about $25,000. Institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NOW shares. Citic Securities reduced their price target on shares of ServiceNow from $168.00 to $140.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Stifel Nicolaus reduced their price target on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. BNP Paribas Exane upgraded shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price target on the stock in a research report on Monday, March 16th. UBS Group reiterated an "outperform" rating on shares of ServiceNow in a research report on Tuesday, May 26th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $236.00 price target (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. One equities research 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 price target of $142.17.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling confidence in further upside after recent analyst conversations. Street Insider article
• Positive Sentiment: ServiceNow announced or expanded AI-focused partnerships with Cognizant and Wipro to help enterprises move from AI pilots to full-scale deployment, which supports the company’s growth narrative around agentic AI workflows. Cognizant partnership article Wipro partnership article
• Positive Sentiment: Recent coverage also noted that ServiceNow has gained more than 16% over the past month, suggesting improving investor sentiment around its AI and enterprise workflow strategy. Yahoo Finance article
• Neutral Sentiment: Market articles highlighted ServiceNow’s recent outperformance versus the broader market in a prior session, but did not point to a new company-specific catalyst. MarketBeat/Zacks article
• Neutral Sentiment: Some commentary compared ServiceNow unfavorably with Salesforce on valuation and earnings momentum, which may keep pressure on the stock’s multiple. Zacks article
• Negative Sentiment: A report about a ServiceNow security breach exposing enterprise customer data could raise concerns about trust, compliance, and customer retention. CPO Magazine article

ServiceNow Stock Performance

ServiceNow stock opened at $101.45 on Wednesday. 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 1 year low of $81.24 and a 1 year high of $211.48. The company has a market cap of $104.59 billion, a PE ratio of 60.46, a PEG ratio of 1.72 and a beta of 0.94. The company's 50-day moving average is $99.84 and its two-hundred day moving average is $118.90.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results 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 net margin of 12.59% and a return on equity of 18.16%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the company posted $0.81 EPS. The company's revenue was up 22.1% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 8,927 shares of the 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 completion of the sale, the insider owned 29,531 shares in the company, valued at $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.