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

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 322.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 328,764 shares of the information technology services provider's stock after acquiring an additional 250,920 shares during the period. ServiceNow comprises 1.3% of OVERSEA CHINESE BANKING Corp Ltd's portfolio, making the stock its 19th largest holding. OVERSEA CHINESE BANKING Corp Ltd's holdings in ServiceNow were worth $50,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after purchasing an additional 3,743,087 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of ServiceNow by 385.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider's stock worth $398,202,000 after purchasing an additional 2,064,440 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST lifted its stake in ServiceNow by 400.0% in the 4th quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 2,250,000 shares of the information technology services provider's stock valued at $344,678,000 after buying an additional 1,800,000 shares in the last quarter. SG Americas Securities LLC lifted its stake in ServiceNow by 11,128.7% in the 4th quarter. SG Americas Securities LLC now owns 1,805,467 shares of the information technology services provider's stock valued at $276,579,000 after buying an additional 1,789,388 shares in the last quarter. Finally, Aberdeen Group plc grew its holdings in ServiceNow by 405.0% during the 4th quarter. Aberdeen Group plc now owns 1,448,931 shares of the information technology services provider's stock valued at $221,962,000 after buying an additional 1,162,005 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOW. Wells Fargo & Company dropped their price target on ServiceNow from $225.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Piper Sandler reaffirmed an "overweight" rating on shares of ServiceNow in a research note on Thursday, January 29th. Citigroup reiterated a "buy" rating and set a $177.00 price objective (down from $237.00) on shares of ServiceNow in a research report on Wednesday, April 15th. Oppenheimer set a $130.00 target price on shares of ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, April 15th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of ServiceNow in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $173.46.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $100.15 on Wednesday. The company has a market cap of $103.78 billion, a P/E ratio of 60.04, a P/E/G ratio of 1.67 and a beta of 1.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The business has a fifty day simple moving average of $105.50 and a 200-day simple moving average of $139.08.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post 2.49 EPS for the current year.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Closed $7.75B Armis acquisition — expands ServiceNow’s cyber asset intelligence into OT/IoT and connected medical/industrial devices, adding agentless asset discovery, continuous device monitoring and AI-driven security capabilities that broaden addressable market and cross-sell opportunities. ServiceNow Expands Into OT And IoT With Armis And AI Manufacturing
• Positive Sentiment: Launched AI-native manufacturing solutions — announced new offerings to unify quality, warranty and shop-floor workflows, which aim to drive deployment in industrial customers and deepen vertical SaaS footprint. ServiceNow puts AI to work across the manufacturing value chain
• Positive Sentiment: Partner/product integration wins — Xactly announced an agent-to-agent AI integration with ServiceNow Now Assist for revenue operations automation, which demonstrates ecosystem traction for Now Assist and cross-platform enterprise use cases. Xactly and ServiceNow Launch Agent-to-Agent AI Integration for Revenue Operations
• Positive Sentiment: Analyst support — BTIG reaffirmed a buy rating with a $185 price target, signaling some street conviction that NOW can re-accelerate growth and justify a premium multiple if execution on AI and security plays succeeds. Benzinga
• Neutral Sentiment: Partner recognition — Technogen earned ServiceNow Premier Consulting & Implementation Partner status, reflecting growing partner ecosystem support but with limited immediate revenue impact. Technogen, Inc. Achieves ServiceNow Premier Consulting & Implementation Partner Status
• Neutral Sentiment: Earnings cadence and previews — multiple outlets preview Q1 results due this week; revenue growth expectations remain solid but investors will watch AI-related guidance and margin/integration commentary. ServiceNow (NOW) Reports Q1: Everything You Need To Know Ahead Of Earnings
• Negative Sentiment: Valuation and competitive headwinds — analysts and blogs note a stretched valuation (P/E ~60) and intensifying competition/AI headwinds; integration risk from large acquisitions like Armis and pressure to convert product momentum into consistent margin expansion are key downside catalysts. The Zacks Analyst Blog ServiceNow, Microsoft, Oracle and Salesforce

Insider Activity

In other news, insider Paul Fipps sold 9,641 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $105.93, for a total transaction of $1,021,271.13. Following the transaction, the insider directly owned 11,757 shares in the company, valued at $1,245,419.01. This represents a 45.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the completion of the sale, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,237 shares of company stock valued at $1,697,162 in the last 90 days. 0.34% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

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.