Twin Lakes Capital Management LLC Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Twin Lakes Capital Management LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,397 shares of the information technology services provider’s stock after selling 259 shares during the period. ServiceNow comprises 2.6% of Twin Lakes Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Twin Lakes Capital Management LLC’s holdings in ServiceNow were worth $4,827,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NOW. Truvestments Capital LLC bought a new stake in ServiceNow in the third quarter valued at $30,000. Ridgewood Investments LLC bought a new stake in shares of ServiceNow during the second quarter worth $32,000. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. American Capital Advisory LLC acquired a new position in ServiceNow during the 2nd quarter worth about $39,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in ServiceNow in the 2nd quarter valued at about $39,000. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NOW shares. Barclays increased their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price target on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada lifted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI raised their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC boosted their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,011.26.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the completion of the sale, the director now directly owns 10,467 shares in the company, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,629 shares of company stock worth $20,861,626. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,120.71 on Tuesday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,137.00. The firm has a market cap of $230.87 billion, a price-to-earnings ratio of 174.29, a P/E/G ratio of 6.45 and a beta of 0.99. The stock’s fifty day moving average price is $987.03 and its two-hundred day moving average price is $861.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. On average, equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.