Taikang Asset Management Hong Kong Co Ltd Boosts Stake in ServiceNow, Inc. $NOW

Taikang Asset Management Hong Kong Co Ltd lifted its position in ServiceNow, Inc. (NYSE:NOW) by 94.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,275 shares of the information technology services provider’s stock after acquiring an additional 6,929 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in ServiceNow were worth $2,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOW. Vanguard Group Inc. grew its position in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after buying an additional 81,752,460 shares during the period. State Street Corp raised its stake in ServiceNow by 406.6% during the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after buying an additional 38,441,898 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ServiceNow by 404.8% in the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. Morgan Stanley boosted its holdings in ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of ServiceNow in the fourth quarter worth $2,020,992,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow News Roundup

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 confidence in further upside after recent analyst conversations. Street Insider article
• Positive Sentiment: ServiceNow announced or expanded AI-focused partnerships with Cognizant and Wipro to help enterprises move from AI pilots to full-scale deployment, which supports the company’s growth narrative around agentic AI workflows. Cognizant partnership article Wipro partnership article
• Positive Sentiment: Recent coverage also noted that ServiceNow has gained more than 16% over the past month, suggesting improving investor sentiment around its AI and enterprise workflow strategy. Yahoo Finance article
• Neutral Sentiment: Market articles highlighted ServiceNow’s recent outperformance versus the broader market in a prior session, but did not point to a new company-specific catalyst. MarketBeat/Zacks article
• Neutral Sentiment: Some commentary compared ServiceNow unfavorably with Salesforce on valuation and earnings momentum, which may keep pressure on the stock’s multiple. Zacks article
• Negative Sentiment: A report about a ServiceNow security breach exposing enterprise customer data could raise concerns about trust, compliance, and customer retention. CPO Magazine article

Analyst Ratings Changes

NOW has been the subject of several analyst reports. Canaccord Genuity Group reduced their price target on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Robert W. Baird cut their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. KeyCorp set a $85.00 target price on shares of ServiceNow and gave the stock an “underweight” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Piper Sandler cut their price target on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.17.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 28,071 shares of company stock valued at $2,529,956 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

ServiceNow Price Performance

NOW opened at $101.45 on Wednesday. The company’s 50-day simple moving average is $99.84 and its two-hundred day simple moving average is $118.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $104.59 billion, a P/E ratio of 60.46, a P/E/G ratio of 1.72 and a beta of 0.94. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

ServiceNow Company 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.