ServiceNow, Inc. $NOW Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its ServiceNow stake by 27.4% in the first quarter, buying 240,274 additional shares and bringing its total holdings to 1,118,509 shares worth about $116.9 million.
• ServiceNow reported better-than-expected quarterly results, with EPS of $0.90 versus $0.86 expected and revenue of $3.99 billion, up 24% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus rating and a $143.39 average price target, even as a few insiders recently sold shares.

OMERS ADMINISTRATION Corp lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 27.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,118,509 shares of the information technology services provider's stock after buying an additional 240,274 shares during the quarter. OMERS ADMINISTRATION Corp owned approximately 0.11% of ServiceNow worth $116,940,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covenant Asset Management LLC raised its holdings in shares of ServiceNow by 169.2% during the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider's stock valued at $3,196,000 after buying an additional 13,114 shares during the last quarter. Norges Bank acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $2,020,992,000. World Investment Advisors grew its holdings in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider's stock worth $7,346,000 after buying an additional 38,583 shares in the last quarter. Cohen Klingenstein LLC grew its holdings in ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider's stock worth $1,532,000 after buying an additional 8,000 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider's stock worth $6,990,000 after buying an additional 36,274 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $98.77 on Friday. The stock has a market cap of $101.83 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 1.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.84. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $201.15. The stock's 50 day moving average price is $104.77 and its 200 day moving average price is $107.70.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the company posted $0.81 EPS. The firm's quarterly revenue was up 24.0% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 2.33 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’s Q2 results showed robust growth, with revenue up about 24% year over year and subscription revenue accelerating, reinforcing that demand for its platform remains strong. Article Title
• Positive Sentiment: Management raised guidance and highlighted AI momentum, including AI contract value topping $1 billion and expanding enterprise adoption, which supports the case for continued growth. Article Title
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings and price targets after earnings, reflecting renewed confidence in ServiceNow’s outlook and valuation upside. Article Title
• Positive Sentiment: New partnerships and channel expansions, including deals with Experian, TeamViewer, and Exclusive Networks, suggest broader adoption of ServiceNow’s AI and cybersecurity offerings. Article Title
• Neutral Sentiment: Investors are also watching mixed signals from insider and institutional trading, with some large funds trimming positions even as others add shares; this appears more like portfolio rebalancing than a clear fundamental warning. Article Title
• Negative Sentiment: Despite the earnings beat, some commentary says the stock’s rally may be vulnerable if AI disruption fears return, especially around usage-based pricing and long-term software demand. Article Title

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,144 shares of company stock worth $1,730,097 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $140.00 target price on shares of ServiceNow in a research note on Thursday. KeyCorp reissued an "underweight" rating on shares of ServiceNow in a research note on Tuesday. Mizuho lowered their price target on ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday. Finally, TD Cowen restated a "buy" rating and set a $140.00 price objective on shares of ServiceNow in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.39.

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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