41,445 Shares in ServiceNow, Inc. $NOW Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, Holdings Channel.com reports. The firm acquired 41,445 shares of the information technology services provider’s stock, valued at approximately $4,115,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. E Fund Management Co. Ltd. purchased a new stake in shares of ServiceNow during the second quarter worth $2,760,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of ServiceNow in the second quarter valued at $2,266,000. CM Wealth Advisors LLC purchased a new position in shares of ServiceNow in the second quarter valued at $328,000. Csenge Advisory Group bought a new stake in shares of ServiceNow during the 2nd quarter valued at $312,000. Finally, OV Management LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at $286,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $150 from $130 and maintained a Buy rating. The firm said ServiceNow is among the software companies best positioned to monetize AI, helping support a broader software-sector rally. ServiceNow, Adobe, Workday stocks get BofA PT boost
• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production-scale deployments. The agreement could increase adoption of ServiceNow’s AI and automation tools and reinforce its positioning as an enterprise “AI control tower.” Tech Mahindra and ServiceNow Expand Partnership
• Positive Sentiment: Several market commentaries described NOW as an AI beneficiary, citing its recurring-revenue model, enterprise workflow position, and potential for continued earnings growth. Some analysts see further upside if ServiceNow delivers a strong third quarter. ServiceNow: A Clear AI Winner
• Neutral Sentiment: Television commentators included ServiceNow among their “final trades,” while broader coverage characterized the recent move as part of a rebound in beaten-down software stocks as fears of AI-driven disruption ease. CNBC Final Trades
• Negative Sentiment: Competitive and valuation risks remain. A Forbes article highlighted an AI startup, Serval, that aims to challenge ServiceNow in enterprise automation, while the stock’s elevated valuation leaves it sensitive to slower growth or disappointing AI monetization. Serval Wants To Replace ServiceNow
• Negative Sentiment: Separate coverage reported trading pressure following insider selling, which may raise short-term concerns about executive confidence, although TD Cowen reiterated its Buy rating. ServiceNow Trading Down Following Insider Selling

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp restated an “underweight” rating on shares of ServiceNow in a research note on Tuesday, July 21st. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target (up from $130.00) on shares of ServiceNow in a research report on Wednesday, July 15th. Argus lowered their price target on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Bank of America raised their price objective on shares of ServiceNow from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $144.24.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director directly owned 46,690 shares of the company’s stock, valued at $5,864,264. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $129.73 on Friday. The firm has a market capitalization of $134.14 billion, a P/E ratio of 81.08, a P/E/G ratio of 2.24 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $108.36 and its two-hundred day simple moving average is $105.58. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73.

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