Strs Ohio Acquires 861,955 Shares of ServiceNow, Inc. $NOW

Key Points

• Strs Ohio boosted its stake in ServiceNow by 435.9% in Q4, buying 861,955 shares to hold 1,059,677 shares worth about $162.3M, making NOW its 22nd largest position (~0.6% of the fund).
• Fundamentals and analyst view: ServiceNow reported ~22% YoY revenue growth in Q1 and met EPS estimates, and analysts hold a "Moderate Buy" consensus with a $146.75 average target despite several firms trimming price objectives.
• The stock has been volatile—trading near $91 with a 52‑week range of $81–$211—facing short‑term sentiment headwinds (the "SaaSpocalypse" debate) and recent insider selling (about $800k by Jacqueline P. Canney).

Strs Ohio increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 435.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,059,677 shares of the information technology services provider's stock after buying an additional 861,955 shares during the quarter. ServiceNow comprises approximately 0.6% of Strs Ohio's portfolio, making the stock its 22nd biggest position. Strs Ohio owned about 0.10% of ServiceNow worth $162,332,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Riverstone Advisors LLC increased its holdings in ServiceNow by 217.7% in the 4th quarter. Riverstone Advisors LLC now owns 1,690 shares of the information technology services provider's stock worth $259,000 after buying an additional 1,158 shares in the last quarter. Pines Wealth Management LLC increased its holdings in ServiceNow by 368.0% in the 4th quarter. Pines Wealth Management LLC now owns 2,050 shares of the information technology services provider's stock worth $314,000 after buying an additional 1,612 shares in the last quarter. Signature Wealth Management Partners LLC increased its holdings in ServiceNow by 400.0% in the 4th quarter. Signature Wealth Management Partners LLC now owns 4,595 shares of the information technology services provider's stock worth $704,000 after buying an additional 3,676 shares in the last quarter. Ashton Thomas Securities LLC increased its holdings in ServiceNow by 366.6% in the 4th quarter. Ashton Thomas Securities LLC now owns 6,336 shares of the information technology services provider's stock worth $971,000 after buying an additional 4,978 shares in the last quarter. Finally, Caisse Des Depots ET Consignations increased its holdings in ServiceNow by 400.0% in the 4th quarter. Caisse Des Depots ET Consignations now owns 36,105 shares of the information technology services provider's stock worth $5,531,000 after buying an additional 28,884 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Q1 results and guidance support the growth story: ServiceNow reported strong subscription revenue growth (~22% YoY) and provided forward metrics that underpin its AI and workflow transition — a clear fundamental reason some investors remain bullish. ServiceNow (NOW) Announces Financial Results for Q1 2026
• Positive Sentiment: Analyst backing and higher targets: Major brokers continue to rate NOW as a Buy (high proportion of analysts bullish); Evercore ISI maintained a buy and Citi raised its price target to $158, supporting upside narratives versus current pricing. Evercore ISI Maintains Buy Rating on ServiceNow Inc. (NOW) Citigroup Raises Price Target
• Positive Sentiment: Partnerships and partner ecosystem expansion: New collaborations (Simplify Alpha for health plans, Brightfin and partner activity highlighted at Knowledge 2026) and third‑party recognition (Atos/partner rankings) strengthen ServiceNow’s go‑to‑market for AI-native workflow products. These help support long‑term revenue expansion opportunities. ServiceNow And Simplify Alpha Target Health Plan Costs With AI Workflows
• Neutral Sentiment: Insider sale disclosed: An insider sold about $799,859 of stock — a data point to monitor, though single insider transactions aren’t decisive without context on timing and reason. ServiceNow NYSE: NOW Insider Sells $799,859.20 in Stock
• Negative Sentiment: Near‑term execution concerns and sell‑side/media narrative: Coverage highlights delayed Middle East deals and intensifying SaaS competition as reasons for a month‑long ~13% slide, which has amplified investor anxiety and pressured the stock despite healthy fundamentals. ServiceNow Drops 13.4% in a Month: Buy, Sell or Hold the Stock?
• Negative Sentiment: Sentiment headwinds from “SaaSpocalypse” debate: Media and some traders have punished the stock after the earnings reaction; commentators and analysts are publicly pushing back, but short‑term sentiment risk remains elevated. Analysts Push Back on SaaSpocalypse: Is ServiceNow a Screaming Buy?

Analysts Set New Price Targets

Several equities research analysts recently commented on NOW shares. Macquarie Infrastructure reduced their price objective on ServiceNow from $172.00 to $140.00 and set a "neutral" rating for the company in a report on Thursday, January 29th. BMO Capital Markets cut their price target on ServiceNow from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Morgan Stanley cut their price target on ServiceNow from $210.00 to $180.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company cut their price target on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group cut their price target on ServiceNow from $188.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $146.75.

ServiceNow Trading Up 3.3%

ServiceNow stock opened at $91.23 on Friday. The business has a 50-day simple moving average of $103.45 and a two-hundred day simple moving average of $135.26. The company has a market cap of $94.06 billion, a P/E ratio of 54.37, a P/E/G ratio of 1.56 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. 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 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 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 revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. Analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the transaction, the director owned 46,430 shares of the company's stock, valued at approximately $4,697,323.10. This trade represents a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,164 shares of company stock valued at $2,497,021. Insiders own 0.34% of the company's stock.

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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