ServiceNow, Inc. (NYSE:NOW) Shares Sold by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,122 shares of the information technology services provider’s stock after selling 5,175 shares during the period. ServiceNow makes up 0.8% of Temasek Holdings Private Ltd’s portfolio, making the stock its 25th biggest position. Temasek Holdings Private Ltd’s holdings in ServiceNow were worth $188,825,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in ServiceNow during the third quarter valued at about $30,000. DT Investment Partners LLC grew its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the period. Ridgewood Investments LLC purchased a new stake in ServiceNow during the second quarter valued at about $32,000. Oakworth Capital Inc. grew its position in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Finally, Semmax Financial Advisors Inc. purchased a new stake in ServiceNow during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.1 %

Shares of ServiceNow stock opened at $1,123.72 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $977.66 and its 200-day simple moving average is $855.37. The stock has a market capitalization of $231.49 billion, a price-to-earnings ratio of 174.76, a PEG ratio of 6.07 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,130.60.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 22.2% on a year-over-year basis. Equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NOW shares. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Jefferies Financial Group upped their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup upped their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JMP Securities upped their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Finally, Truist Financial upped their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,002.64.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the transaction, the director now directly owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.