North Dakota State Investment Board Purchases New Shares in ServiceNow, Inc. $NOW

Key Points

• North Dakota State Investment Board initiated a new position in ServiceNow during the fourth quarter, buying 35,435 shares valued at about $5.4 million.
• ServiceNow’s latest quarterly results showed EPS of $0.97, matching expectations, while revenue of $3.77 billion slightly beat forecasts and rose 22.1% year over year.
• Despite solid fundamentals and strong institutional ownership, the stock has faced pressure: it recently traded around $95.15, well below its 52-week high, and analysts still rate it Moderate Buy with an average target price of $144.71.

North Dakota State Investment Board acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,435 shares of the information technology services provider's stock, valued at approximately $5,428,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOW. Brighton Jones LLC lifted its holdings in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in ServiceNow by 4.2% during the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock valued at $861,000 after purchasing an additional 34 shares in the last quarter. United Bank lifted its holdings in ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider's stock valued at $1,562,000 after purchasing an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider's stock valued at $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider's stock valued at $931,000 after purchasing an additional 609 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NYSE:NOW opened at $95.15 on Monday. The company's 50-day moving average price is $100.52 and its 200-day moving average price is $128.64. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $98.10 billion, a P/E ratio of 56.71, a P/E/G ratio of 1.61 and a beta of 0.82. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow and Experian announced a new multi-year global partnership to embed autonomous AI capabilities into workflows such as employee onboarding and third-party risk management, which could deepen platform adoption and expand use cases. Experian Partners With ServiceNow to Scale Trusted Decisioning to Agentic AI
• Positive Sentiment: ServiceNow also expanded AI and automation partnerships with Accenture and FedEx Dataworks, signaling stronger enterprise demand for its workflow platform and potential conversion of pilot projects into full production deployments. ServiceNow AI Partnerships Aim To Turn Pilot Projects Into Core Workflows
• Positive Sentiment: The company completed a $4 billion multi-tranche debt offering, which should improve financing flexibility even though it increases leverage. ServiceNow Completes $4 Billion Multi-Tranche Debt Offering
• Neutral Sentiment: Commentary from analysts highlights ServiceNow’s expanding customer base, 22% subscription revenue growth, and strong remaining performance obligations visibility, reinforcing expectations for continued top-line growth. Can an Expanding Clientele Boost ServiceNow's Top-Line Growth?
• Negative Sentiment: Some market coverage and options activity suggest the stock has been under pressure recently, reflecting lingering concerns about valuation and post-earnings weakness. See ServiceNow Stock Heading Lower? This Trade Profits From Further Downside.

Insider Activity

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Fipps sold 9,641 shares of ServiceNow stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, the insider directly owned 11,757 shares in the company, valued at $1,245,419.01. This trade represents a 45.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,415 shares of company stock worth $2,210,933. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. BMO Capital Markets decreased their price objective on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Piper Sandler decreased their price objective on shares of ServiceNow from $200.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Finally, HSBC decreased their price objective on shares of ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $144.71.

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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