George Kaiser Family Foundation Has $4.27 Million Stake in ServiceNow, Inc. $NOW

Key Points

• George Kaiser Family Foundation boosted its ServiceNow stake by 402% in the fourth quarter, ending with 27,860 shares valued at about $4.27 million.
• Several other hedge funds also increased their positions, and the stock is now 87.18% owned by institutional investors, signaling strong professional interest in ServiceNow.
• ServiceNow’s latest quarter showed continued strength, with EPS of $0.97 matching estimates and revenue of $3.77 billion topping expectations, while analysts remain broadly bullish with a Moderate Buy rating.

George Kaiser Family Foundation increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 402.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,860 shares of the information technology services provider's stock after buying an additional 22,310 shares during the quarter. ServiceNow accounts for about 0.6% of George Kaiser Family Foundation's portfolio, making the stock its 10th biggest holding. George Kaiser Family Foundation's holdings in ServiceNow were worth $4,268,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC grew its stake in ServiceNow by 513.9% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 2,204 shares of the information technology services provider's stock valued at $338,000 after purchasing an additional 1,845 shares in the last quarter. BNP Paribas grew its stake in ServiceNow by 429.7% in the fourth quarter. BNP Paribas now owns 196,825 shares of the information technology services provider's stock valued at $30,177,000 after purchasing an additional 159,666 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in ServiceNow by 81.8% in the fourth quarter. Sustainable Growth Advisers LP now owns 1,140,979 shares of the information technology services provider's stock valued at $174,787,000 after purchasing an additional 513,436 shares in the last quarter. Lingotto Investment Management LLP grew its stake in ServiceNow by 518.9% in the fourth quarter. Lingotto Investment Management LLP now owns 285,325 shares of the information technology services provider's stock valued at $43,709,000 after purchasing an additional 239,221 shares in the last quarter. Finally, Arcadia Investment Management Corp MI grew its stake in ServiceNow by 427.9% in the fourth quarter. Arcadia Investment Management Corp MI now owns 75,265 shares of the information technology services provider's stock valued at $11,530,000 after purchasing an additional 61,008 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: ServiceNow is benefiting from a broad software rally after Nvidia’s Jensen Huang said AI should be seen as an opportunity for software firms rather than a threat. ServiceNow, Adobe stocks jump as Nvidia's new AI chip sparks software rally
• Positive Sentiment: Investors are also reacting to ServiceNow’s recent quarterly results, which beat revenue estimates and showed continued double-digit growth, supporting the view that fundamentals remain strong. ServiceNow (NOW) shares skyrocket, what you need to know
• Positive Sentiment: Coverage points to ServiceNow as a leader in the software comeback, with investors betting the sector may have more room to rebound as AI demand grows. ServiceNow Is Leading a Software Comeback for These Stocks
• Neutral Sentiment: Commentary around “agentic AI” and ServiceNow’s role in enterprise automation is adding to bullish sentiment, but it is more narrative-driven than a new hard catalyst. What Exactly Is Agentic AI, and Why Are Some Stocks Blowing Up Because of It? (NOW)
• Neutral Sentiment: Analyst and media coverage continues to highlight ServiceNow as a stock with upside potential, reinforcing the positive tone but not adding a new company-specific announcement. ServiceNow Stock: Is NOW Underperforming the Technology Sector?

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NOW shares. Evercore lifted their target price on ServiceNow from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Citigroup lifted their target price on ServiceNow from $154.00 to $158.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Stifel Nicolaus reduced their target price on ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Jefferies Financial Group reiterated a "buy" rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, BTIG Research reiterated a "buy" rating and set a $150.00 target price on shares of ServiceNow in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average target price of $141.85.

ServiceNow Stock Performance

NOW opened at $135.70 on Tuesday. The business has a fifty day simple moving average of $98.50 and a 200 day simple moving average of $123.13. The company has a market capitalization of $139.91 billion, a PE ratio of 80.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $211.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.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 posted $0.81 EPS. Research analysts expect that ServiceNow, Inc. will post 2.36 EPS for the current year.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director owned 30,090 shares of the company's stock, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.