Oddo BHF Asset Management Sas Takes Position in ServiceNow, Inc. $NOW

Oddo BHF Asset Management Sas purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 279,748 shares of the information technology services provider’s stock, valued at approximately $42,855,000. ServiceNow makes up approximately 1.6% of Oddo BHF Asset Management Sas’ portfolio, making the stock its 8th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Temasek Holdings Private Ltd increased its holdings in shares of ServiceNow by 466.1% during the fourth quarter. Temasek Holdings Private Ltd now owns 662,380 shares of the information technology services provider’s stock valued at $101,470,000 after acquiring an additional 545,375 shares in the last quarter. Rakuten Investment Management Inc. increased its holdings in shares of ServiceNow by 679.7% during the fourth quarter. Rakuten Investment Management Inc. now owns 136,748 shares of the information technology services provider’s stock valued at $21,139,000 after acquiring an additional 119,210 shares in the last quarter. Codex Capital Asset Management L.L.C. increased its holdings in shares of ServiceNow by 369.9% during the fourth quarter. Codex Capital Asset Management L.L.C. now owns 26,550 shares of the information technology services provider’s stock valued at $4,067,000 after acquiring an additional 20,900 shares in the last quarter. L2 Asset Management LLC increased its holdings in shares of ServiceNow by 435.8% during the fourth quarter. L2 Asset Management LLC now owns 5,235 shares of the information technology services provider’s stock valued at $802,000 after acquiring an additional 4,258 shares in the last quarter. Finally, Avalon Global Asset Management LLC increased its holdings in shares of ServiceNow by 400.0% during the fourth quarter. Avalon Global Asset Management LLC now owns 129,600 shares of the information technology services provider’s stock valued at $19,853,000 after acquiring an additional 103,680 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Trending Headlines about ServiceNow

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 continued confidence in upside from current levels.
• Positive Sentiment: ServiceNow also benefited from a broader risk-on move after bond yields fell on news of a peace deal tied to reopening the Strait of Hormuz, helping high-quality software names like NOW move higher.
• Positive Sentiment: IBM extended its ServiceNow partnership to help enterprises overcome data and legacy-system barriers to AI adoption, reinforcing ServiceNow’s role in enterprise AI workflows.
• Neutral Sentiment: ServiceNow’s stock outperformed the market in the latest session, reflecting investor interest in the name, but the move was tied more to macro and sentiment factors than a new company-specific financial update.
• Neutral Sentiment: Commentary comparing ServiceNow with Salesforce suggests investors still see competition in cloud software, with some analysts favoring CRM on valuation and AI momentum.
• Negative Sentiment: A report said a ServiceNow security breach exposed enterprise customer data, which could raise concerns about trust, cybersecurity controls, and potential reputational damage.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOW. 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. Wolfe Research set a $125.00 price target on ServiceNow in a report on Thursday, April 23rd. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Morgan Stanley reduced their price target on ServiceNow from $210.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.17.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 have sold a total of 28,071 shares of company stock valued at $2,529,956 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $104.26 on Tuesday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The stock has a 50-day moving average of $99.85 and a 200 day moving average of $119.31. The company has a market capitalization of $107.50 billion, a price-to-earnings ratio of 62.14, a PEG ratio of 1.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

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

ServiceNow 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.