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

Temasek Holdings Private Ltd lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 39.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 127,393 shares of the information technology services provider's stock after selling 83,729 shares during the period. Temasek Holdings Private Ltd owned approximately 0.06% of ServiceNow worth $135,052,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Quarry LP acquired a new position in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc bought a new stake in ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow in the fourth quarter worth about $32,000. FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow during the fourth quarter valued at approximately $34,000. Institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 62 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,431,636. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,061 shares of company stock worth $9,515,766. Insiders own 0.38% of the company's stock.

ServiceNow Trading Up 0.7%

Shares of NOW traded up $6.68 on Thursday, reaching $1,021.44. 444,429 shares of the company's stock were exchanged, compared to its average volume of 1,521,591. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market capitalization of $211.44 billion, a P/E ratio of 149.50, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $874.78 and a two-hundred day moving average price of $974.74.

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

ServiceNow announced that its board has approved a stock buyback 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Redburn Atlantic started coverage on ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating for the company. Mizuho reduced their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Finally, Evercore ISI increased their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Company Profile

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.