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

Temasek Holdings Private Ltd lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 48.3% in the first quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NOW. Danica Pension Livsforsikringsaktieselskab lifted its holdings in ServiceNow by 28.7% during the 1st quarter. Danica Pension Livsforsikringsaktieselskab now owns 185,429 shares of the information technology services provider’s stock worth $19,387,000 after buying an additional 41,404 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of ServiceNow by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 999,014 shares of the information technology services provider’s stock worth $104,447,000 after acquiring an additional 19,114 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in shares of ServiceNow during the first quarter worth $392,000. Mathes Company Inc. raised its stake in shares of ServiceNow by 225.9% in the first quarter. Mathes Company Inc. now owns 8,800 shares of the information technology services provider’s stock valued at $920,000 after acquiring an additional 6,100 shares in the last quarter. Finally, Piar LLC raised its stake in shares of ServiceNow by 97.7% in the first quarter. Piar LLC now owns 27,210 shares of the information technology services provider’s stock valued at $2,845,000 after acquiring an additional 13,450 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow News Summary

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

ServiceNow Stock Down 2.5%

ServiceNow stock opened at $102.04 on Wednesday. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $210.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $105.20 billion, a PE ratio of 60.81, a P/E/G ratio of 1.75 and a beta of 0.96. The stock’s fifty day moving average is $104.50 and its two-hundred day moving average is $108.56.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the business earned $0.81 EPS. ServiceNow’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, sell-side analysts expect that ServiceNow, Inc. will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. Benchmark reissued a “buy” rating on shares of ServiceNow in a research note on Friday. TD Cowen reaffirmed a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a research report on Friday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Raymond James Financial lowered their price objective on ServiceNow from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Guggenheim upgraded shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $139.12.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction, the insider directly owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. 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 worth $2,529,956 over the last 90 days. Insiders own 0.34% of the company’s stock.

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.