ServiceNow, Inc. $NOW Shares Purchased by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System boosted its stake in ServiceNow by 381.1%, buying an additional 657,892 shares to own 830,539 shares (about 0.08% of the company) worth roughly $127.23 million.
• Several large institutions also piled in—Vanguard (+404.5% to 101.96M shares), Jennison, Nordea, Pictet and Sumitomo Mitsui among them—leaving institutional investors with about 87.18% of the stock.
• ServiceNow reported Q1 subscription revenue growth of ~22% YoY with in‑line EPS and management highlighting AI monetization upside, but shares remain well below prior highs amid insider selling (~25,164 shares last quarter) and mixed analyst target revisions (consensus: "Moderate Buy", target $146.75).

New York State Teachers Retirement System boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 381.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 830,539 shares of the information technology services provider's stock after acquiring an additional 657,892 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of ServiceNow worth $127,230,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock worth $15,619,771,000 after buying an additional 81,752,460 shares during the period. Jennison Associates LLC boosted its position in ServiceNow by 280.1% in the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock valued at $1,291,758,000 after buying an additional 6,213,762 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of ServiceNow by 388.7% during the fourth quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock valued at $720,325,000 after acquiring an additional 3,743,087 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of ServiceNow by 613.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock worth $588,326,000 after acquiring an additional 3,301,962 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of ServiceNow by 385.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock worth $398,202,000 after acquiring an additional 2,064,440 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 results showed subscription revenue growth (~22% YoY) and in‑line EPS, with management pointing to AI‑driven monetization upside — evidence that core recurring revenue remains healthy. ServiceNow (NOW) Announces Financial Results for Q1 2026
• Positive Sentiment: Citigroup raised its price target to $158 and kept a Buy rating, signaling at least some Wall Street confidence in NOW’s recovery potential and AI monetization. Citigroup Raises Price Target
• Positive Sentiment: Analysts and industry notes highlight a powerful partner ecosystem (consulting and ISV partners) that can accelerate enterprise AI/workflow adoption and expand ServiceNow’s addressable market. ServiceNow Benefits From Rich Partner Base
• Positive Sentiment: Atos was named a Leader in ISG’s ServiceNow ecosystem report — a sign partners are investing in ServiceNow expertise across Europe and the U.S., which supports longer‑term enterprise adoption. Atos recognized as a Leader in ISG’s Provider Lens 2026
• Neutral Sentiment: Third‑party ISV innovation (Brightfin’s AI‑native IT financial management built on ServiceNow) underscores platform extensibility but is likely incremental to ServiceNow’s near‑term revenue. Brightfin Unveils AI-Native Platform
• Neutral Sentiment: Comparative pieces (Salesforce vs. ServiceNow) and buy‑the‑dip analyses highlight divergent investor views — long‑term growth thesis intact but timing and multiple remain debated. Salesforce vs. ServiceNow: Which AI Stock Is the Better Buy?
• Negative Sentiment: Insider selling disclosed (Jacqueline Canney sold ~8,927 shares at ≈$89.60), which can increase short‑term sentiment pressure. Insider SEC Filing
• Negative Sentiment: Shares remain far below prior highs and have suffered YTD declines; investors are rotating toward perceived pure‑play AI winners and larger AI investments (e.g., Alphabet/Anthropic), which amplifies valuation pressure on NOW. Alphabet Plans Up to $40B Anthropic Investment
• Negative Sentiment: Several firms trimmed targets or issued mixed notes post‑earnings, leaving consensus upside but also highlighting near‑term uncertainty on multiple compression. MarketBeat ServiceNow Coverage

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial reduced their price target on ServiceNow from $125.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Needham & Company LLC dropped their price objective on ServiceNow from $155.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on ServiceNow from $180.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. KeyCorp set a $85.00 target price on ServiceNow and gave the company an "underweight" rating in a research note on Thursday, April 23rd. Finally, Cantor Fitzgerald reduced their price objective on shares of ServiceNow to $122.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.75.

Insider Buying and Selling

In other news, insider Paul Fipps sold 3,696 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. This represents a 31.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the business's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $105.71, for a total transaction of $147,994.00. Following the transaction, the insider directly owned 26,314 shares of the company's stock, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,164 shares of company stock valued at $2,497,021 over the last quarter. Company insiders own 0.34% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $88.40 on Friday. 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 capitalization of $91.14 billion, a price-to-earnings ratio of 52.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $211.48. The business has a 50 day simple moving average of $103.45 and a 200-day simple moving average of $135.26.

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 (EPS) for the quarter, hitting 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 last year, the firm posted $0.81 EPS. The company's revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current 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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