Vestcor Inc Increases Holdings in ServiceNow, Inc. $NOW

Key Points

• Vestcor Inc dramatically increased its ServiceNow stake by 477% in the fourth quarter, ending with 74,650 shares valued at about $11.4 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 87.18% of ServiceNow’s stock. Several smaller funds also added to positions during the period.
• ServiceNow’s latest quarter met earnings expectations, posting $0.97 EPS on $3.77 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $141.85.

Vestcor Inc boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 477.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,650 shares of the information technology services provider's stock after purchasing an additional 61,712 shares during the period. Vestcor Inc's holdings in ServiceNow were worth $11,436,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOW. IAG Wealth Partners LLC increased its holdings in 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 period. Noble Wealth Management PBC increased its holdings in 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 period. Millstone Evans Group LLC increased its holdings in 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 period. CBIZ Investment Advisory Services LLC increased its holdings in 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 period. Finally, Blueline Advisors LLC bought a new stake in ServiceNow during the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NOW. BNP Paribas Exane raised ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 price objective on the stock in a research report on Monday, March 16th. Stifel Nicolaus cut their price objective on ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings cut ServiceNow from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, April 21st. Capital One Financial lifted their price objective on ServiceNow from $105.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $141.85.

Insider Buying and Selling

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the business's stock in a transaction that occurred 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 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 Stock Performance

Shares of NOW opened at $112.45 on Friday. 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 business's 50 day moving average price is $99.48 and its 200-day moving average price is $122.03. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The stock has a market cap of $115.94 billion, a P/E ratio of 67.02, a P/E/G ratio of 1.97 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.81 EPS. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: New coverage highlights bullish catalysts for ServiceNow, including accelerating AI adoption, a model-agnostic architecture, and a possible path to $30 billion in revenue by 2030, which supports the long-term growth story. Article Title
• Positive Sentiment: Cognizant’s integration with ServiceNow’s AI Control Tower underscores growing demand for ServiceNow’s AI governance tools in regulated enterprise environments, potentially expanding use cases and customer adoption. Article Title
• Positive Sentiment: Analysts and recent commentary say EmployeeWorks is gaining traction quickly, with larger deals and broader AI adoption helping to reinforce ServiceNow’s growth narrative. Article Title
• Neutral Sentiment: ServiceNow’s recent conference appearances and transcript releases keep the company visible to investors, but they do not appear to contain a major new catalyst on their own. Article Title
• Neutral Sentiment: Some valuation-focused coverage notes that the stock has had a mixed year, with a strong recent bounce offset by weaker longer-term performance, suggesting investors are still debating whether the rebound is justified. Article Title
• Negative Sentiment: Multiple articles point to pressure on the shares from acquisition integration costs, deal delays, and intensifying competition, which are weighing on near-term expectations. Article Title
• Negative Sentiment: Friday’s decline is also being driven by a broader market sell-off, with enterprise software and other growth names facing risk-off trading as investors pull back from higher-valuation tech. Article Title
• Negative Sentiment: Additional commentary notes that large insider buying in ServiceNow occurred near the peak of earlier SaaS pessimism, highlighting how far sentiment and the stock have already fallen since then. Article Title

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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