Oddo BHF Asset Management Sas Takes $42.86 Million Position in ServiceNow, Inc. $NOW

Key Points

• Oddo BHF Asset Management Sas disclosed a new stake in ServiceNow, buying 279,748 shares worth about $42.86 million. The position makes ServiceNow its 8th-largest holding and about 1.6% of its portfolio.
• Wall Street sentiment remains mostly constructive: several analysts maintained or raised bullish ratings, and ServiceNow now has a Moderate Buy consensus with an average price target of $142.17. Benchmark recently lifted its target to $130 and reiterated a buy rating.
• The article also notes a mix of company-specific developments, including an IBM partnership extension tied to enterprise AI adoption and a reported security breach that exposed customer data, which could weigh on trust and sentiment.

Oddo BHF Asset Management Sas acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 279,748 shares of the information technology services provider's stock, valued at approximately $42,855,000. ServiceNow accounts for about 1.6% of Oddo BHF Asset Management Sas' investment portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also recently made changes to their positions in NOW. IAG Wealth Partners LLC boosted its stake in shares of ServiceNow by 200.0% during the third quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 18 shares during the period. Noble Wealth Management PBC boosted its stake in shares of ServiceNow by 400.0% during the fourth quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 128 shares during the period. Millstone Evans Group LLC boosted its stake 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 purchasing an additional 132 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake 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 purchasing an additional 135 shares during the period. Finally, Blueline Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and reiterated a buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: ServiceNow also benefited from a broader risk-on move after bond yields fell on news of a peace deal tied to reopening the Strait of Hormuz, helping high-quality software names like NOW move higher.
• Positive Sentiment: IBM extended its ServiceNow partnership to help enterprises overcome data and legacy-system barriers to AI adoption, reinforcing ServiceNow’s role in enterprise AI workflows.
• Neutral Sentiment: ServiceNow’s stock outperformed the market in the latest session, reflecting investor interest in the name, but the move was tied more to macro and sentiment factors than a new company-specific financial update.
• Neutral Sentiment: Commentary comparing ServiceNow with Salesforce suggests investors still see competition in cloud software, with some analysts favoring CRM on valuation and AI momentum.
• Negative Sentiment: A report said a ServiceNow security breach exposed enterprise customer data, which could raise concerns about trust, cybersecurity controls, and potential reputational damage.

ServiceNow Price Performance

NOW opened at $104.26 on Tuesday. The stock has a fifty day simple moving average of $99.85 and a two-hundred day simple moving average of $119.31. 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 cap of $107.50 billion, a price-to-earnings ratio of 62.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $0.81 earnings per share. Research analysts predict that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price for the company in a report on Monday, March 16th. JPMorgan Chase & Co. decreased their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Wells Fargo & Company decreased their target price on ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Canaccord Genuity Group decreased their target price on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. Finally, Citigroup upped their target price on ServiceNow from $154.00 to $158.00 and gave the company a "buy" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $142.17.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,071 shares of company stock worth $2,529,956 in the last ninety days. 0.34% of the stock is owned by company insiders.

ServiceNow Profile

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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