ServiceNow, Inc. $NOW Shares Purchased by New Mexico Educational Retirement Board

Key Points

• New Mexico Educational Retirement Board boosted its ServiceNow stake by 410.7% in the fourth quarter, ending with 47,750 shares worth about $7.3 million.
• Analysts remain broadly constructive on the stock despite some target cuts, with ServiceNow carrying a consensus “Moderate Buy” rating and an average price target of $141.85.
• Recent insider activity has leaned toward selling, including transactions by an executive and a director, while the company reported better-than-expected revenue growth of 22.1% year over year in its latest quarter.

New Mexico Educational Retirement Board raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 410.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,750 shares of the information technology services provider's stock after acquiring an additional 38,400 shares during the quarter. New Mexico Educational Retirement Board's holdings in ServiceNow were worth $7,315,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC lifted its stake in ServiceNow by 200.0% in the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 18 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in ServiceNow in the third quarter worth approximately $29,000. Texas Capital Bancshares Inc TX purchased a new position in ServiceNow in the third quarter worth approximately $37,000. Ameriflex Group Inc. lifted its stake in 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 acquiring an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new position in ServiceNow in the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BMO Capital Markets decreased their price target on shares of ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Mizuho decreased their price target on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Argus decreased their price target on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Wall Street Zen downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Bank of America began coverage on shares of ServiceNow in a research note on Monday, May 18th. They issued a "buy" rating and a $130.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.85.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares of the company's stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares of the company's stock, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by company insiders.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow's stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume NYSE: NOW

ServiceNow Stock Performance

Shares of NOW opened at $124.56 on Monday. The stock has a 50 day moving average price of $98.05 and a 200 day moving average price of $123.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $128.42 billion, a price-to-earnings ratio of 74.23, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly 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. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share. Research analysts predict that ServiceNow, Inc. will post 2.36 EPS for the current fiscal year.

About ServiceNow

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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