On July 16, ServiceNow declined 3.01% in regular trading, trading at $100.985/share, with turnover of $238 million.

The decline came as the software sector continued to absorb the fallout from IBM's disappointing Q2 preliminary results released earlier this week. IBM reported revenue of $17.2 billion, significantly below the market consensus of $17.86 billion, triggering a broad selloff across enterprise software names. Despite RBC Capital raising its price target on ServiceNow to $130 from $121 on the same day while maintaining an Outperform rating, the positive signal failed to offset sector-wide pressure.

Adding to the volatility, ServiceNow is scheduled to report Q2 earnings on July 22 after market close, with consensus EPS expectations of $0.40. Pre-earnings uncertainty further amplified selling pressure. Within the Systems Software sector, stocks broadly declined, with Oracle down 3.96%, NEBIUS down 5.01%, CrowdStrike down 2.21%, Microsoft down 0.7%, and Palo Alto Networks down 0.07%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)