New York State Teachers Retirement System Sells 17,047 Shares of ServiceNow, Inc. $NOW

Key Points

• New York State Teachers Retirement System reduced its ServiceNow stake by 2.1% in the first quarter, selling 17,047 shares and ending with 813,492 shares valued at about $85.1 million.
• Wall Street remains mostly positive on ServiceNow, with several firms reiterating Buy/Overweight ratings and an average analyst rating of “Moderate Buy”; the average price target is $141.68.
• ServiceNow is still drawing attention from both sides of the market: Guggenheim upgraded the stock to Buy on valuation and AI-related optimism, while recent insider sales and commentary continue to flag premium valuation and execution risks.

New York State Teachers Retirement System trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 813,492 shares of the information technology services provider's stock after selling 17,047 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of ServiceNow worth $85,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Wealth Watch Advisors INC acquired a new position in ServiceNow during the 3rd quarter worth $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of ServiceNow in the third quarter valued at about $37,000. Ameriflex Group Inc. increased its stake in shares of ServiceNow by 187.5% in the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 30 shares during the period. Kelleher Financial Advisors bought a new position in shares of ServiceNow in the third quarter worth about $50,000. Finally, Pin Oak Investment Advisors Inc. lifted its position in shares of ServiceNow by 20.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider's stock worth $123,000 after purchasing an additional 23 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. Capital One Financial increased their target price on ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Piper Sandler dropped their price target on ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. UBS Group reiterated an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. TD Cowen restated a "buy" rating and issued a $140.00 price objective on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Barclays restated an "overweight" rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $141.68.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy from Neutral and set a $125 price target, arguing that fears about AI disruption have likely gone too far and that the stock now looks attractively valued after a steep selloff. Article title: ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Multiple follow-up reports said the upgrade helped lift ServiceNow shares, with Guggenheim’s view that recent weakness created a buying opportunity for software investors. Article title: Guggenheim Sees 45%+ Upside After Upgrading Salesforce, ServiceNow, Check Point
• Positive Sentiment: ServiceNow also announced a joint initiative with Accenture to modernize enterprise risk management using agentic AI, reinforcing the company’s positioning as an AI workflow and security platform rather than an AI casualty. Article title: Accenture (ACN), ServiceNow (NOW) Launch Joint Initiative to Modernize Enterprise Risk Management With Agentic AI
• Neutral Sentiment: Several analysts and commentary pieces noted that ServiceNow still trades at a premium valuation, so while growth and enterprise AI adoption remain supportive, investors are being reminded that the stock is not cheap. Article title: ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: ServiceNow said it will report second-quarter 2026 results on July 22, which keeps attention on whether growth and margins can hold up after the recent volatility. Article title: ServiceNow to Announce Second Quarter 2026 Financial Results on July 22
• Negative Sentiment: Bearish articles continued to highlight risks from AI disruption, slower large-deal closures, acquisition-related margin pressure, and premium valuation, all of which could limit upside if execution disappoints. Article title: ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on 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 sale, the director owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. 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. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last ninety days. 0.34% of the stock is owned by company insiders.

ServiceNow Trading Up 0.2%

ServiceNow stock opened at $106.06 on Friday. The business has a 50 day moving average price of $100.47 and a two-hundred day moving average price of $112.93. The company has a quick ratio of 0.84, a current 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. The stock has a market cap of $109.34 billion, a price-to-earnings ratio of 63.20, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting 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 revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. As a group, equities analysts forecast 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.

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.