Kentucky Retirement Systems Insurance Trust Fund Purchases 21,756 Shares of ServiceNow, Inc. $NOW

Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 400.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,195 shares of the information technology services provider’s stock after acquiring an additional 21,756 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ServiceNow were worth $4,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kentucky Retirement Systems increased its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Kentucky Retirement Systems now owns 64,880 shares of the information technology services provider’s stock valued at $9,939,000 after acquiring an additional 51,904 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of ServiceNow by 505.5% during the fourth quarter. Peapack Gladstone Financial Corp now owns 10,638 shares of the information technology services provider’s stock valued at $1,630,000 after acquiring an additional 8,881 shares in the last quarter. Florida Financial Advisors LLC grew its holdings in ServiceNow by 552.9% during the fourth quarter. Florida Financial Advisors LLC now owns 1,815 shares of the information technology services provider’s stock worth $278,000 after buying an additional 1,537 shares in the last quarter. Redwood Financial Network Corp grew its holdings in ServiceNow by 400.0% during the fourth quarter. Redwood Financial Network Corp now owns 2,850 shares of the information technology services provider’s stock worth $437,000 after buying an additional 2,280 shares in the last quarter. Finally, Rothschild Wealth LLC bought a new stake in ServiceNow during the fourth quarter worth $310,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NOW shares. BMO Capital Markets decreased their price target on ServiceNow from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Argus decreased their price target on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. The Goldman Sachs Group decreased their price target on ServiceNow from $188.00 to $163.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Morgan Stanley decreased their price target on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $141.85.

Key Stories Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is benefiting from a sector-wide rebound in software stocks after Snowflake’s strong earnings suggested AI is more of an opportunity than a threat for enterprise platforms. ServiceNow (NOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also responding to ServiceNow’s expanding AI narrative, including its position as a key platform for agentic AI workflows and enterprise automation. ServiceNow’s stock soars toward historic month as AI fears fade across software
• Positive Sentiment: Coverage calling ServiceNow a buy at current levels and setting a higher price target is adding to the bullish sentiment around the stock’s valuation reset. Buy, Hold, or Sell: Is This Cloud Automation Juggernaut a Steal Following Its Massive Valuation Reset?
• Positive Sentiment: Momentum from partnerships and AI-related headlines, including Wipro’s expanded ServiceNow collaboration, is reinforcing the company’s relevance in enterprise automation. Wipro stock gains 4%: can its ServiceNow tie-up drive growth?
• Neutral Sentiment: Unusually high options activity suggests traders are positioning for continued volatility in ServiceNow shares. ServiceNow Sees Unusually High Options Volume (NYSE:NOW)

ServiceNow Trading Up 0.2%

NYSE NOW opened at $124.56 on Monday. The business’s fifty day moving average is $98.05 and its 200-day moving average is $123.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $128.42 billion, a price-to-earnings ratio of 74.23, a PEG ratio of 2.05 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 2.36 EPS for the current year.

Insider Activity at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.