Maryland State Retirement & Pension System Has $7.89 Million Stock Holdings in ServiceNow, Inc. $NOW

Maryland State Retirement & Pension System lifted its position in ServiceNow, Inc. (NYSE:NOW) by 400.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,530 shares of the information technology services provider’s stock after acquiring an additional 41,224 shares during the period. Maryland State Retirement & Pension System’s holdings in ServiceNow were worth $7,894,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Atom Investors LP raised its position in shares of ServiceNow by 110.8% in the 4th quarter. Atom Investors LP now owns 15,716 shares of the information technology services provider’s stock valued at $2,408,000 after acquiring an additional 8,261 shares during the period. Guardian Wealth Advisors LLC NC increased its stake in ServiceNow by 397.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 11,084 shares of the information technology services provider’s stock worth $1,698,000 after purchasing an additional 8,857 shares in the last quarter. Clark Capital Management Group Inc. increased its stake in ServiceNow by 507.0% during the 4th quarter. Clark Capital Management Group Inc. now owns 3,120 shares of the information technology services provider’s stock worth $478,000 after purchasing an additional 2,606 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in ServiceNow during the 4th quarter worth approximately $64,000. Finally, Arthur M. Cohen & Associates LLC increased its stake in ServiceNow by 243.8% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 4,510 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 3,198 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling confidence in further upside after recent analyst conversations. Street Insider article
• Positive Sentiment: ServiceNow announced or expanded AI-focused partnerships with Cognizant and Wipro to help enterprises move from AI pilots to full-scale deployment, which supports the company’s growth narrative around agentic AI workflows. Cognizant partnership article Wipro partnership article
• Positive Sentiment: Recent coverage also noted that ServiceNow has gained more than 16% over the past month, suggesting improving investor sentiment around its AI and enterprise workflow strategy. Yahoo Finance article
• Neutral Sentiment: Market articles highlighted ServiceNow’s recent outperformance versus the broader market in a prior session, but did not point to a new company-specific catalyst. MarketBeat/Zacks article
• Neutral Sentiment: Some commentary compared ServiceNow unfavorably with Salesforce on valuation and earnings momentum, which may keep pressure on the stock’s multiple. Zacks article
• Negative Sentiment: A report about a ServiceNow security breach exposing enterprise customer data could raise concerns about trust, compliance, and customer retention. CPO Magazine article

Insider Buying and Selling

In related news, Director Anita M. Sands sold 16,445 shares of the company’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 sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last three months, insiders have sold 28,071 shares of company stock valued at $2,529,956. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on ServiceNow from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Citigroup raised their price target on ServiceNow from $154.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Bank of America began coverage on ServiceNow in a report on Monday, May 18th. They set a “buy” rating and a $130.00 target price for the company. Piper Sandler decreased their price target on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Finally, Morgan Stanley decreased their price target on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $142.17.

ServiceNow Stock Performance

NYSE:NOW opened at $101.45 on Wednesday. The stock has a market cap of $104.59 billion, a P/E ratio of 60.46, a price-to-earnings-growth ratio of 1.72 and a beta of 0.94. 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 stock’s 50-day moving average is $99.84 and its 200-day moving average is $118.90. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48.

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