UniSuper Management Pty Ltd Purchases 328,600 Shares of ServiceNow, Inc. $NOW

Key Points

• UniSuper Management Pty Ltd boosted its ServiceNow stake by 389.6% in the fourth quarter, buying 328,600 additional shares and bringing its total holdings to 412,937 shares worth about $63.3 million.
• Several other institutional investors also increased small positions, and institutional ownership remains high at 87.18% of ServiceNow’s shares.
• Analysts remain broadly positive but mixed on valuation: ServiceNow has a Moderate Buy consensus rating with an average price target of $141.85, while recent target cuts from some firms reflect caution despite strong AI-related growth themes.

UniSuper Management Pty Ltd grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 389.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,937 shares of the information technology services provider's stock after acquiring an additional 328,600 shares during the quarter. UniSuper Management Pty Ltd's holdings in ServiceNow were worth $63,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC increased its position in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC increased its position in shares of ServiceNow by 400.0% during the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 128 shares during the last quarter. Millstone Evans Group LLC increased its position in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Blueline Advisors LLC bought a new position in shares of ServiceNow during the 4th quarter valued at approximately $25,000. Institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 of the company's stock, valued at $3,919,243.90. This represents 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 have sold 28,071 shares of company stock worth $2,529,956 in the last 90 days. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

NOW has been the topic of several analyst reports. Sanford C. Bernstein reissued an "outperform" rating and set a $236.00 target price (up from $226.00) on shares of ServiceNow in a research report on Wednesday, May 6th. Robert W. Baird cut their target price on ServiceNow from $125.00 to $118.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Morgan Stanley cut their target price on ServiceNow from $210.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. JPMorgan Chase & Co. cut their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company cut their target price on ServiceNow from $185.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $141.85.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a new partnership with IBM aimed at modernizing legacy IT systems and making enterprise data usable for agentic AI, which supports the company’s long-term AI growth narrative. IBM And ServiceNow Target Enterprise AI Scale While Seeding Future Talent
• Positive Sentiment: ServiceNow also expanded its AI footprint through a partnership with Phenom to launch AI hiring agents, reinforcing demand for its workflow automation and AI tools. Phenom Partners with ServiceNow to Introduce AI Hiring Agents
• Positive Sentiment: Analysts said ServiceNow demand remains resilient despite global uncertainty, citing AI growth, pricing power, and a potential path to much higher revenue over time. ServiceNow Demand Remains Resilient Despite Global Uncertainty: Analyst
• Positive Sentiment: ServiceNow was also highlighted as a possible AI winner by market commentators, suggesting investors still see it as one of the better-positioned software names in the AI trade. The AI Trade Nobody Is Making Right Now -- and Why It Could Be 2026's Best Opportunity
• Neutral Sentiment: ServiceNow is getting attention from traders and media as the stock remains volatile, with some technical commentary suggesting the recent pullback may be driven partly by profit-taking rather than a change in fundamentals. What's Going On With ServiceNow Stock Thursday?
• Negative Sentiment: Multiple reports said ServiceNow disclosed or patched a bug/API vulnerability that may have exposed customer data or allowed unauthorized access, raising cybersecurity and trust concerns. ServiceNow tells customers a bug left some of their data exposed to the internet
• Negative Sentiment: Commentary from Jim Cramer also pointed to ServiceNow’s premium valuation, which can make the stock more vulnerable when sentiment turns cautious. Jim Cramer on ServiceNow: “It’s Expensive, That’s the Problem”
• Negative Sentiment: News about Bay Area job cuts across tech firms added to the cautious tone in the sector, reinforcing worries about a softer enterprise spending backdrop. ServiceNow, Salesforce, other tech firms reveal more Bay Area job cuts

ServiceNow Price Performance

NOW opened at $103.03 on Friday. The business has a fifty day moving average of $99.84 and a 200 day moving average of $120.17. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48. 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 stock has a market cap of $106.23 billion, a P/E ratio of 61.40, a PEG ratio of 1.75 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the business earned $0.81 EPS. ServiceNow's revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.35 EPS 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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.