524,686 Shares in ServiceNow, Inc. $NOW Purchased by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired 524,686 ServiceNow shares during the second quarter, valued at approximately $51.8 million. The position represents 1.1% of the fund’s holdings and 0.05% of ServiceNow’s outstanding stock.
• ServiceNow reported strong quarterly results, with revenue rising 24% year over year to $3.99 billion and EPS of $0.90, exceeding analyst expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $144.24.
• Investor sentiment is supported by ServiceNow’s AI partnerships and growth potential, but valuation and competitive risks remain. The stock trades at a P/E ratio above 81, while a company director recently sold 1,500 shares under a pre-arranged 10b5-1 plan.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 524,686 shares of the information technology services provider's stock, valued at approximately $51,812,000. ServiceNow makes up 1.1% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 16th largest position. OVERSEA CHINESE BANKING Corp Ltd owned 0.05% of ServiceNow at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Florida Financial Advisors LLC boosted its stake in shares of ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider's stock worth $280,000 after acquiring an additional 14 shares during the last quarter. Clark Capital Management Group Inc. increased its position in shares of ServiceNow by 3.6% during the third quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider's stock worth $473,000 after purchasing an additional 18 shares in the last quarter. American Trust raised its stake in ServiceNow by 1.8% in the 3rd quarter. American Trust now owns 1,029 shares of the information technology services provider's stock valued at $947,000 after purchasing an additional 18 shares during the last quarter. Morse Asset Management Inc raised its stake in ServiceNow by 0.5% in the 2nd quarter. Morse Asset Management Inc now owns 3,488 shares of the information technology services provider's stock valued at $3,586,000 after purchasing an additional 19 shares during the last quarter. Finally, CYBER HORNET ETFs LLC lifted its holdings in ServiceNow by 3.7% in the 3rd quarter. CYBER HORNET ETFs LLC now owns 567 shares of the information technology services provider's stock valued at $522,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds 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

Insider Activity

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $125.60, for a total value of $188,400.00. Following the completion of the sale, the director owned 46,690 shares of the company's stock, valued at approximately $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company's stock.

ServiceNow Stock Performance

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

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the company earned $0.81 EPS. The company's revenue for the quarter was up 24.0% on a year-over-year basis. On average, research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOW shares. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Benchmark reiterated a "buy" rating on shares of ServiceNow in a research report on Friday, July 17th. Cantor Fitzgerald raised their price target on shares of ServiceNow from $122.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday, July 20th. Capital One Financial boosted their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Finally, Truist Financial boosted their price target on shares of ServiceNow from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $144.24.

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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