Temasek Holdings Private Ltd Sells 83,729 Shares of ServiceNow, Inc. (NYSE:NOW)

Temasek Holdings Private Ltd decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,393 shares of the information technology services provider's stock after selling 83,729 shares during the quarter. Temasek Holdings Private Ltd owned 0.06% of ServiceNow worth $135,052,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the fourth quarter worth $48,802,000. Dock Street Asset Management Inc. grew its position in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after purchasing an additional 1,105 shares in the last quarter. Rheos Capital Works Inc. acquired a new stake in ServiceNow in the 4th quarter valued at $10,071,000. Finally, FMR LLC increased its stake in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOW. BMO Capital Markets raised their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday. TD Securities reaffirmed a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Canaccord Genuity Group decreased their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Trading Up 0.5%

Shares of ServiceNow stock opened at $1,040.22 on Friday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The stock has a market cap of $215.33 billion, a PE ratio of 152.30, a PEG ratio of 4.51 and a beta of 0.97. The firm has a 50-day moving average of $863.52 and a 200-day moving average of $973.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah Black sold 598 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the completion of the transaction, the director now directly owns 428 shares of the company's stock, valued at approximately $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,872 shares of company stock worth $13,261,400. Company insiders own 0.38% of the company's stock.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.

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