State of Wisconsin Investment Board Has $82.54 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• State of Wisconsin Investment Board massively increased its ServiceNow stake by 371.1% in Q4, ending with 538,803 shares valued at about $82.5 million.
• Institutional ownership remains very high, with hedge funds and other investors owning 87.18% of ServiceNow’s stock, while insiders have been net sellers in recent months.
• Wall Street sentiment is still broadly positive: analysts have a Moderate Buy consensus on NOW, with an average price target of $142.17, and recent reports highlighted AI partnerships with Cognizant and Wipro as growth drivers.

State of Wisconsin Investment Board lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 371.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 538,803 shares of the information technology services provider's stock after acquiring an additional 424,429 shares during the period. State of Wisconsin Investment Board owned approximately 0.05% of ServiceNow worth $82,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. IAG Wealth Partners LLC grew its stake in shares of 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 acquired a new stake in shares of ServiceNow in the third quarter worth $29,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of ServiceNow in the third quarter worth $37,000. Ameriflex Group Inc. grew 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 acquiring an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors acquired a new stake in shares of ServiceNow in the third quarter worth $50,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. BNP Paribas Exane upgraded shares of ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price objective on the stock in a research note on Monday, March 16th. The Goldman Sachs Group reduced their target price on ServiceNow from $188.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. reduced their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Citic Securities reduced their target price on ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Finally, Capital One Financial raised their target price on ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $142.17.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling confidence in further upside after recent analyst conversations. Street Insider article
• Positive Sentiment: ServiceNow announced or expanded AI-focused partnerships with Cognizant and Wipro to help enterprises move from AI pilots to full-scale deployment, which supports the company’s growth narrative around agentic AI workflows. Cognizant partnership article Wipro partnership article
• Positive Sentiment: Recent coverage also noted that ServiceNow has gained more than 16% over the past month, suggesting improving investor sentiment around its AI and enterprise workflow strategy. Yahoo Finance article
• Neutral Sentiment: Market articles highlighted ServiceNow’s recent outperformance versus the broader market in a prior session, but did not point to a new company-specific catalyst. MarketBeat/Zacks article
• Neutral Sentiment: Some commentary compared ServiceNow unfavorably with Salesforce on valuation and earnings momentum, which may keep pressure on the stock’s multiple. Zacks article
• Negative Sentiment: A report about a ServiceNow security breach exposing enterprise customer data could raise concerns about trust, compliance, and customer retention. CPO Magazine article

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction 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 transaction, the director directly owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 in the last ninety days. Insiders own 0.34% of the company's stock.

ServiceNow Stock Down 2.6%

Shares of NOW stock opened at $101.45 on Wednesday. The stock has a market cap of $104.59 billion, a P/E ratio of 60.46, a price-to-earnings-growth ratio of 1.72 and a beta of 0.94. The stock has a fifty day moving average price of $99.84 and a 200 day moving average price of $118.90. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business's revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. Analysts predict that ServiceNow, Inc. will post 2.35 earnings per share 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.

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