ServiceNow, Inc. $NOW Shares Purchased by Twin Lakes Capital Management LLC

Key Points

• Twin Lakes Capital Management increased its stake in ServiceNow by 390.7% in the fourth quarter, ending with 26,485 shares worth about $4.1 million.
• ServiceNow recently reported quarterly earnings of $0.97 per share on $3.77 billion in revenue, both roughly in line with expectations, while revenue still grew 22.1% year over year.
• Analysts remain mostly constructive despite recent weakness: the stock has a Moderate Buy consensus, though price targets have been trimmed and the shares have fallen sharply from their 52-week high.

Twin Lakes Capital Management LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 390.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,485 shares of the information technology services provider's stock after purchasing an additional 21,088 shares during the period. ServiceNow makes up approximately 1.5% of Twin Lakes Capital Management LLC's portfolio, making the stock its 18th biggest holding. Twin Lakes Capital Management LLC's holdings in ServiceNow were worth $4,057,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NOW. IAG Wealth Partners LLC raised its position in shares of ServiceNow by 200.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider's stock worth $25,000 after buying an additional 18 shares during the period. Bogart Wealth LLC boosted its holdings in ServiceNow by 93.8% in the third quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 15 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in ServiceNow during the third quarter valued at about $29,000. Texas Capital Bancshares Inc TX acquired a new stake in ServiceNow during the third quarter worth about $37,000. Finally, Ameriflex Group Inc. increased its stake in ServiceNow by 187.5% during the third quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider's stock worth $42,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $91.14 on Friday. The business's 50-day simple moving average is $102.80 and its 200 day simple moving average is $132.71. The company has a market cap of $93.96 billion, a P/E ratio of 54.31, a PEG ratio of 1.61 and a beta of 0.82. 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, Inc. has a one year low of $81.24 and a one year high of $211.48.

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 for the quarter, hitting analysts' consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.ServiceNow's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. On average, sell-side analysts forecast that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the transaction, the insider owned 29,531 shares in the company, valued at $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the transaction, the director directly owned 46,430 shares of the company's stock, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,164 shares of company stock valued at $2,497,021 over the last ninety days. 0.34% of the stock is owned by company insiders.

Key Headlines Impacting ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow announced a partnership with Accenture to deliver agentic AI at enterprise scale, reinforcing its role as a core platform for enterprise AI workflows and potentially expanding adoption. ServiceNow, Accenture partner to deliver agentic AI at enterprise scale
• Positive Sentiment: Management is pushing a long-term growth narrative, saying AI can accelerate ServiceNow’s business and projecting more than $30 billion in subscription revenue by 2030, which helped lift sentiment around the stock. ServiceNow Targets $30 Billion As AI Revenue Story Accelerates
• Positive Sentiment: Several analyst notes were supportive, including higher price targets and reiterated Buy/Outperform ratings, signaling that Wall Street still sees upside despite the selloff. Capital One Financial Increases ServiceNow NYSE: NOW Price Target to $120.00
• Positive Sentiment: There was also unusual call-option buying, suggesting some traders are positioning for a rebound.
• Neutral Sentiment: ServiceNow continued to generate attention around its AI control and governance strategy, including collaborations with NVIDIA and Microsoft, which may support the long-term platform story but do not yet change near-term fundamentals. ServiceNow And NVIDIA Project Arc Puts AI Agents At Center Stage
• Negative Sentiment: Bearish coverage focused on rising competition from agentic AI and argued that ServiceNow’s challenges predate the AI hype, adding to concerns that the stock may have more downside if growth expectations reset. ServiceNow Had Problems Long Before Agentic AI. Here's Why.
• Negative Sentiment: Investors also appear worried about the broader “Saaspocalypse” narrative, with commentary highlighting the scale of the stock’s recent decline and questions about whether AI will truly offset pressure on legacy software models. Why CEO Bill McDermott says ServiceNow’s 39% stock crash is Saaspocalypse ‘nonsense’ and why AI will make it a trillion-dollar company

Analysts Set New Price Targets

Several research firms have recently weighed in on NOW. Jefferies Financial Group reaffirmed a "buy" rating and issued a $135.00 price objective (down from $175.00) on shares of ServiceNow in a research note on Thursday, April 23rd. Wells Fargo & Company dropped their target price on shares of ServiceNow from $185.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. UBS Group set a $150.00 price target on shares of ServiceNow in a report on Thursday, April 23rd. KeyCorp set a $85.00 price target on shares of ServiceNow and gave the company an "underweight" rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.71.

About ServiceNow

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.

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.