New York State Teachers Retirement System Has $85.05 Million Stock Position in ServiceNow, Inc. $NOW

New York State Teachers Retirement System reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 2.1% during the 1st quarter, HoldingsChannel reports. The firm owned 813,492 shares of the information technology services provider’s stock after selling 17,047 shares during the quarter. New York State Teachers Retirement System’s holdings in ServiceNow were worth $85,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NOW. Noble Wealth Management PBC grew its position 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 acquiring an additional 128 shares during the period. Millstone Evans Group LLC lifted its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 132 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of 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 valued at $25,000 after acquiring an additional 135 shares during the period. Blueline Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at $25,000. Finally, Measured Wealth Private Client Group LLC boosted its stake in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

More ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Guggenheim upgraded ServiceNow to Buy from Neutral and set a $125 price target, arguing that fears about AI disruption have likely gone too far and that the stock now looks attractively valued after a steep selloff. Article title: ServiceNow (NOW) Rating Upgraded by Guggenheim to Buy from Neutral
• Positive Sentiment: Multiple follow-up reports said the upgrade helped lift ServiceNow shares, with Guggenheim’s view that recent weakness created a buying opportunity for software investors. Article title: Guggenheim Sees 45%+ Upside After Upgrading Salesforce, ServiceNow, Check Point
• Positive Sentiment: ServiceNow also announced a joint initiative with Accenture to modernize enterprise risk management using agentic AI, reinforcing the company’s positioning as an AI workflow and security platform rather than an AI casualty. Article title: Accenture (ACN), ServiceNow (NOW) Launch Joint Initiative to Modernize Enterprise Risk Management With Agentic AI
• Neutral Sentiment: Several analysts and commentary pieces noted that ServiceNow still trades at a premium valuation, so while growth and enterprise AI adoption remain supportive, investors are being reminded that the stock is not cheap. Article title: ServiceNow Trades at Premium Valuation: How to Play the Stock
• Neutral Sentiment: ServiceNow said it will report second-quarter 2026 results on July 22, which keeps attention on whether growth and margins can hold up after the recent volatility. Article title: ServiceNow to Announce Second Quarter 2026 Financial Results on July 22
• Negative Sentiment: Bearish articles continued to highlight risks from AI disruption, slower large-deal closures, acquisition-related margin pressure, and premium valuation, all of which could limit upside if execution disappoints. Article title: ServiceNow Stock Plunges 50% — Why NOW Stock Is a Buy Here

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. Citic Securities lowered their target price on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. FBN Securities cut their price target on shares of ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a research report on Tuesday, May 5th. Raymond James Financial decreased their price objective on shares of ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Truist Financial dropped their price objective on shares of ServiceNow from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.68.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on 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 sale, the director owned 30,090 shares of the company’s stock, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.2%

Shares of NOW opened at $106.06 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48. The firm has a market capitalization of $109.34 billion, a PE ratio of 63.20, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The stock’s fifty day simple moving average is $100.47 and its 200-day simple moving average is $112.93.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The business 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 firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 2.34 earnings per share 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.