Alberta Investment Management Corp Makes New $26.58 Million Investment in ServiceNow, Inc. $NOW

Alberta Investment Management Corp acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, HoldingsChannel reports. The fund acquired 173,502 shares of the information technology services provider’s stock, valued at approximately $26,579,000.

A number of other hedge funds have also made changes to their positions in the business. IAG Wealth Partners LLC lifted its stake in ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the last quarter. Noble Wealth Management PBC increased its stake in ServiceNow by 400.0% in the fourth 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 stake in ServiceNow by 400.0% in the fourth 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 raised its holdings in ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Blueline Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’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 value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This trade represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last quarter. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. HSBC lowered their target price on shares of ServiceNow from $226.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. BTIG Research restated a “buy” rating and issued a $150.00 price objective on shares of ServiceNow in a research note on Monday, May 4th. JPMorgan Chase & Co. decreased their price objective on shares of ServiceNow from $195.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Finally, Citic Securities dropped their price objective on ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.17.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its agentic AI ecosystem with new partnerships involving Wipro, Digimarc, and HPE, highlighting broader adoption of its platform for enterprise rollout, AI trust, and unified operations. ServiceNow (NOW) Expands Agentic AI With Wipro Digimarc And HPE Partnerships
• Positive Sentiment: Cognizant said ServiceNow AI Agents now interoperate with its Neuro AI Multi-Agent Accelerator, which could strengthen ServiceNow’s position in cross-platform enterprise AI orchestration. Cognizant expands cross-platform agentic AI with new ServiceNow AI Agent interoperability
• Positive Sentiment: Aria Systems and ServiceNow launched what they called the world’s first agentic BSS for telecoms, suggesting another vertical use case that could expand ServiceNow’s enterprise footprint. Aria Systems and ServiceNow Replace Decades of Complexity by Launching the World’s First Agentic BSS for Telecoms
• Positive Sentiment: Analyst coverage remains upbeat: one roundup cited 90% of 50 analysts with Buy ratings and an average price target implying meaningful upside, reinforcing the stock’s long-term AI growth narrative. Why is ServiceNow (NOW) the Best Generative AI Software Stock to Buy in June
• Neutral Sentiment: Zacks highlighted ServiceNow’s AI Control Tower as a potential future growth engine, but the article was more of a thesis piece than a hard catalyst. Can AI Control Tower Become ServiceNow’s Next Growth Engine?

ServiceNow Price Performance

Shares of NYSE:NOW opened at $95.51 on Friday. The company has a 50-day simple moving average of $99.60 and a 200-day simple moving average of $117.97. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $98.47 billion, a price-to-earnings ratio of 56.92, a PEG ratio of 1.58 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. On average, analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

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.