OMERS ADMINISTRATION Corp Makes New Investment in ServiceNow, Inc. $NOW

OMERS ADMINISTRATION Corp purchased a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 277,619 shares of the information technology services provider’s stock, valued at approximately $27,562,000.

A number of other large investors have also modified their holdings of the stock. Osmosis Investment Management UK Ltd acquired a new stake in shares of ServiceNow in the second quarter valued at $3,495,000. Biondo Investment Advisors LLC purchased a new position in shares of ServiceNow in the 2nd quarter valued at about $11,572,000. Saranac Partners Ltd purchased a new position in shares of ServiceNow in the 2nd quarter valued at about $4,044,000. Solstein Capital LLC acquired a new position in shares of ServiceNow during the second quarter worth about $35,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ServiceNow during the second quarter worth about $12,160,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $128.73 on Monday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The stock has a market capitalization of $133.11 billion, a price-to-earnings ratio of 80.46, a PEG ratio of 2.26 and a beta of 0.94. The company has a 50-day simple moving average of $108.88 and a 200-day simple moving average of $105.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the transaction, the director owned 46,690 shares of the company’s stock, valued at $5,864,264. The trade was a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research note on Thursday, July 23rd. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a report on Tuesday, July 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Barclays reissued an “overweight” rating and issued a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Finally, Robert W. Baird raised their price objective on shares of ServiceNow from $118.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.24.

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.