ServiceNow, Inc. $NOW Shares Purchased by Hobart Private Capital LLC

Hobart Private Capital LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 131.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,127 shares of the information technology services provider’s stock after acquiring an additional 641 shares during the quarter. Hobart Private Capital LLC’s holdings in ServiceNow were worth $1,159,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NOW. Sage Mountain Advisors LLC increased its stake in ServiceNow by 9.5% during the 2nd quarter. Sage Mountain Advisors LLC now owns 1,448 shares of the information technology services provider’s stock worth $1,489,000 after buying an additional 126 shares during the period. DDD Partners LLC increased its stake in ServiceNow by 1,980.1% during the 2nd quarter. DDD Partners LLC now owns 10,151 shares of the information technology services provider’s stock worth $10,436,000 after buying an additional 9,663 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in ServiceNow by 2.2% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 495,283 shares of the information technology services provider’s stock worth $509,191,000 after buying an additional 10,444 shares during the period. Asset Management One Co. Ltd. increased its stake in ServiceNow by 2.3% during the 2nd quarter. Asset Management One Co. Ltd. now owns 106,625 shares of the information technology services provider’s stock worth $109,619,000 after buying an additional 2,433 shares during the period. Finally, R Squared Ltd increased its stake in ServiceNow by 37.8% during the 2nd quarter. R Squared Ltd now owns 1,240 shares of the information technology services provider’s stock worth $1,275,000 after buying an additional 340 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Paul Fipps sold 1,452 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares in the company, valued at $409,037.85. This represents a 76.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Cowen reissued a “buy” rating on shares of ServiceNow in a research report on Friday. UBS Group dropped their price objective on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Raymond James Financial increased their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Citigroup increased their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,124.17.

ServiceNow Trading Down 1.0%

NYSE NOW opened at $929.77 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s fifty day moving average price is $917.85 and its 200 day moving average price is $940.95. The company has a market capitalization of $193.39 billion, a price-to-earnings ratio of 117.10, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm posted $3.13 EPS. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow 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.