Temasek Holdings Private Ltd Decreases Holdings in ServiceNow, Inc. $NOW

Temasek Holdings Private Ltd cut its stake in ServiceNow, Inc. (NYSE:NOW) by 48.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,230 shares of the information technology services provider’s stock after selling 320,150 shares during the quarter. Temasek Holdings Private Ltd’s holdings in ServiceNow were worth $35,780,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NOW. Millstone Evans Group LLC boosted its holdings in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of ServiceNow by 540.0% in 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 purchasing an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC lifted its position in ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC boosted its stake in ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 134 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Down 2.5%

Shares of NYSE:NOW opened at $102.04 on Wednesday. The business has a 50-day moving average price of $104.50 and a 200 day moving average price of $108.56. 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 $105.20 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 1.75 and a beta of 0.96. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates 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 net margin of 12.59% and a return on equity of 18.16%. ServiceNow’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOW. Wells Fargo & Company cut 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. Weiss Ratings cut shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. Oppenheimer reissued an “outperform” rating and issued a $140.00 price objective (up from $130.00) on shares of ServiceNow in a report on Wednesday, July 15th. Sanford C. Bernstein restated an “outperform” rating on shares of ServiceNow in a research report on Monday, June 29th. Finally, BMO Capital Markets reduced their target price on shares of ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.12.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. The trade was a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last 90 days. Insiders own 0.34% of the company’s stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Jefferies expects ServiceNow to deliver solid second-quarter results, with subscription revenue and cRPO likely coming in above guidance. The firm also sees a possible raise to full-year subscription revenue guidance, supported by strong execution, early contract renewals, and AI-related demand. Article Title
• Positive Sentiment: Cantor Fitzgerald raised its price target on ServiceNow to $141 and kept an overweight rating, signaling confidence in upside if earnings and guidance remain strong. Article Title
• Positive Sentiment: Morgan Stanley said software sentiment has become “too negative” and named top picks in the sector, reinforcing the idea that high-quality software names like ServiceNow could rebound if the market mood improves. Article Title
• Neutral Sentiment: ServiceNow is in the spotlight ahead of earnings, with mixed analyst views and a bearish technical setup adding uncertainty into the report. Article Title
• Neutral Sentiment: ServiceNow is expected to report after the market close on July 22, and several articles frame the stock as a high-stakes earnings setup rather than a clear fundamental change. Article Title
• Negative Sentiment: CLSA initiated coverage with a bearish view, which has added pressure ahead of earnings and contributed to cautious investor sentiment around the name. Article Title
• Negative Sentiment: A separate security report said a critical ServiceNow code-execution flaw is being exploited in attacks, which could create near-term reputational and security concerns for the company. Article Title

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.