VIRGINIA RETIREMENT SYSTEMS ET Al Has $7.58 Million Stake in ServiceNow, Inc. $NOW

Key Points

• Virginia Retirement Systems ET Al increased its ServiceNow stake by 400% in the fourth quarter, ending with 49,500 shares valued at about $7.58 million.
• Wall Street sentiment remains generally positive: several analysts kept or upgraded bullish ratings, and ServiceNow currently has a Moderate Buy consensus with an average price target of $144.71.
• ServiceNow reported quarterly revenue of $3.77 billion, up 22.1% year over year, while matching EPS estimates at $0.97 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 400.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 49,500 shares of the information technology services provider's stock after purchasing an additional 39,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in ServiceNow were worth $7,583,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. IAG Wealth Partners LLC boosted its stake in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares during the last quarter. Noble Wealth Management PBC boosted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after buying an additional 128 shares during the last quarter. Millstone Evans Group LLC boosted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 132 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of ServiceNow in the 4th quarter worth approximately $26,000. Finally, Albion Financial Group UT boosted its stake in shares of ServiceNow by 400.0% in the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. Mizuho cut their target price on ServiceNow from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price on the stock in a research note on Monday, March 16th. 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 note on Thursday, April 23rd. DA Davidson restated a "buy" rating and issued a $190.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, HSBC cut their target price on ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.71.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 3,696 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider owned 8,061 shares of the company's stock, valued at $820,367.97. The trade was a 31.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,815 shares of company stock valued at $2,358,927 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its partnership with Boomi and launched the Workflow Data Network Passport Program, which should improve real-time data activation across enterprise systems and strengthen its pitch as an AI “control tower” for large customers. ServiceNow And Boomi Deepen Ties To Power AI Control Tower Ambitions
• Positive Sentiment: ServiceNow was also highlighted in a roundup of top agentic AI stocks, signaling that market watchers continue to see upside in the company’s AI platform positioning. 5 Best Agentic AI Stocks to Buy Right Now
• Positive Sentiment: Analyst and media coverage remains constructive overall, with ServiceNow repeatedly showing up in “buy now” and featured stock lists, which can support sentiment around the name. Is Trending Stock ServiceNow, Inc. (NOW) a Buy Now?
• Neutral Sentiment: A small insider sale by Paul Fipps was disclosed, but it was done under a pre-arranged 10b5-1 plan and is unlikely to be a major trading signal. SEC insider filing for Paul Fipps
• Negative Sentiment: Some investors may also be weighing broader concerns around valuation and financing after reports that ServiceNow plans a large bond sale, which could temper enthusiasm despite the company’s solid operating momentum. Software Firm ServiceNow Plans to Raise $4 Billion in Bond Sale

ServiceNow Price Performance

ServiceNow stock opened at $87.11 on Thursday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $211.48. 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 business's 50 day simple moving average is $101.35 and its 200 day simple moving average is $129.98. The company has a market cap of $89.81 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 1.58 and a beta of 0.82.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. ServiceNow's revenue for the quarter was up 22.1% on a year-over-year basis. Sell-side analysts forecast 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.

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