Taikang Asset Management Hong Kong Co Ltd Grows Position in ServiceNow, Inc. $NOW

Taikang Asset Management Hong Kong Co Ltd raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 94.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,275 shares of the information technology services provider’s stock after purchasing 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 hedge funds and other institutional investors have also bought and sold shares of NOW. Vanguard Group Inc. lifted its position in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. State Street Corp increased its holdings in ServiceNow by 406.6% in the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Geode Capital Management LLC raised its stake in ServiceNow by 404.8% during the 4th 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 during the period. Morgan Stanley raised its stake in ServiceNow by 335.6% during the 4th 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 during the period. Finally, Norges Bank purchased a new position in ServiceNow during the fourth quarter valued at approximately $2,020,992,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of a number of recent analyst reports. Argus dropped their price target on shares of ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a research report on Friday, April 24th. BNP Paribas Exane upgraded shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 target price on the stock in a research note on Monday, March 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. Capital One Financial increased their price target on ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, FBN Securities decreased their price target on ServiceNow from $160.00 to $120.00 in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.17.

Insider Activity at ServiceNow

In other 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 transaction of $130,845.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at $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 available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value 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. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,071 shares of company stock worth $2,529,956 over the last 90 days. Company insiders own 0.34% of the company’s stock.

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 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

ServiceNow Price Performance

NOW stock opened at $101.45 on Wednesday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company’s fifty day moving average price is $99.84 and its 200-day moving average price 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 company has a market capitalization of $104.59 billion, a PE ratio of 60.46, a price-to-earnings-growth ratio of 1.72 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its earnings results 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 company 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%. ServiceNow’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the company posted $0.81 earnings per share. On average, equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal 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.