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

Alberta Investment Management Corp acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 173,502 shares of the information technology services provider’s stock, valued at approximately $26,579,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC increased its holdings in ServiceNow by 200.0% in 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 in the last quarter. Wealth Watch Advisors INC bought a new position in shares of ServiceNow during the third quarter worth about $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of ServiceNow during the third quarter worth about $37,000. Ameriflex Group Inc. lifted its position in shares of ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new position in shares of ServiceNow during the third quarter worth about $50,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James Financial reduced their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Mizuho lowered their price objective on shares of 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 shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Monday, March 16th. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Finally, HSBC reduced 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. One 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. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $142.17.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and kept a Buy rating, signaling confidence that the stock has meaningful upside from current levels.
• Positive Sentiment: Another report noted ServiceNow has an average analyst recommendation of Moderate Buy, reinforcing a broadly constructive Wall Street view of the company.
• Positive Sentiment: IBM’s expanded ServiceNow partnership was highlighted as a way to accelerate enterprise AI adoption, which could bolster ServiceNow’s platform relevance and long-term growth narrative. Can IBM’s Extended ServiceNow Deal Accelerate Enterprise AI Adoption?
• Neutral Sentiment: ServiceNow was described as a candidate to benefit from AI-driven workflow automation, but the commentary was more of a business thesis than a concrete catalyst. ServiceNow: A 7.0 Score in a Shifting AI Landscape
• Neutral Sentiment: ServiceNow outperformed the broader market in the latest session, but the move appeared tied to general momentum and analyst sentiment rather than a major company-specific announcement. ServiceNow (NOW) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Multiple articles compared ServiceNow with Salesforce and said CRM currently has the edge thanks to stronger Agentforce momentum, rising earnings estimates, and a lower valuation, which may pressure NOW’s relative appeal. ServiceNow vs. Salesforce: Which Cloud Software Stock Has an Edge Now?
• Negative Sentiment: A broader software-industry note said SaaS stocks have been under pressure over the past six months, a backdrop that can weigh on ServiceNow’s valuation even when company-specific news is positive. 1 Software Stock with Exciting Potential and 2 Facing Headwinds

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider directly owned 29,531 shares of the company’s stock, valued at $2,645,977.60. This represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,071 shares of company stock worth $2,529,956 over the last quarter. 0.34% of the stock is currently owned by company insiders.

ServiceNow Stock Up 2.1%

ServiceNow stock opened at $104.26 on Tuesday. 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 company has a market capitalization of $107.50 billion, a P/E ratio of 62.14, a P/E/G ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48. The firm’s fifty day simple moving average is $99.85 and its 200-day simple moving average is $119.31.

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