ServiceNow, Inc. $NOW Shares Bought by Twin Capital Management Inc.

Key Points

• Twin Capital Management increased its ServiceNow stake by 408.3% in the fourth quarter, ending with 20,879 shares valued at about $3.2 million.
• Several other large institutional investors also boosted their holdings, and 87.18% of ServiceNow shares are now owned by hedge funds and other institutions.
• ServiceNow drew bullish analyst attention, including a Buy rating from Bank of America, while the stock has a Moderate Buy consensus target price of $141.89.

Twin Capital Management Inc. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 408.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,879 shares of the information technology services provider's stock after purchasing an additional 16,771 shares during the quarter. Twin Capital Management Inc.'s holdings in ServiceNow were worth $3,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the period. State Street Corp grew its holdings in shares of ServiceNow by 1.4% during the 3rd quarter. State Street Corp now owns 9,454,699 shares of the information technology services provider's stock worth $8,700,970,000 after purchasing an additional 131,080 shares during the period. Jennison Associates LLC grew its holdings in shares of ServiceNow by 280.1% during the 4th quarter. Jennison Associates LLC now owns 8,432,389 shares of the information technology services provider's stock worth $1,291,758,000 after purchasing an additional 6,213,762 shares during the period. Nordea Investment Management AB grew its holdings in shares of ServiceNow by 388.7% during the 4th quarter. Nordea Investment Management AB now owns 4,706,164 shares of the information technology services provider's stock worth $720,325,000 after purchasing an additional 3,743,087 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in shares of ServiceNow by 613.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,840,262 shares of the information technology services provider's stock worth $588,326,000 after purchasing an additional 3,301,962 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America restarted coverage on ServiceNow with a Buy rating, helping spark fresh bullish sentiment around the stock. ServiceNow in focus as BofA restarts coverage with Buy rating
• Positive Sentiment: Analysts are increasingly viewing ServiceNow as an AI beneficiary, not a casualty, with commentary that its Action Fabric, Model Context Protocol, and Now Assist adoption could make it a control center for agentic AI workflows. NOW: Why A 20 Percent Grower At 19x '27 EPS Doesn't Stay There
• Positive Sentiment: Multiple reports say software stocks are rebounding as investors rotate back into enterprise software and reassess AI disruption fears, with ServiceNow among the leaders in that move. US software stocks attempt a rebound as investors reassess AI risks

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction that occurred on 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 transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 3,696 shares of ServiceNow stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total value of $376,141.92. Following the completion of the transaction, the insider owned 8,061 shares in the company, valued at $820,367.97. This trade represents a 31.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 31,767 shares of company stock valued at $2,906,098. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NOW shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $121.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. JPMorgan Chase & Co. decreased their target price on ServiceNow from $195.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, April 23rd. Capital One Financial increased their target price on ServiceNow from $105.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. HSBC decreased their target price on ServiceNow from $226.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Finally, Argus decreased their target price on ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $141.89.

ServiceNow Trading Up 1.3%

NYSE:NOW opened at $103.13 on Thursday. The stock's 50 day moving average price is $99.35 and its 200 day moving average price is $126.89. The company has a market capitalization of $106.33 billion, a PE ratio of 61.46, a P/E/G ratio of 1.85 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $0.81 EPS. The company's revenue was up 22.1% on a year-over-year basis. On average, research analysts anticipate 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.

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