Hobart Private Capital LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Hobart Private Capital LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 486 shares of the information technology services provider's stock, valued at approximately $387,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter valued at approximately $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter valued at approximately $32,000. Noble Wealth Management PBC bought a new stake in shares of ServiceNow in the 4th quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of several analyst reports. Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and raised their price objective for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets raised their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Oppenheimer reissued an "outperform" rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Morgan Stanley raised their price target on ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Down 0.3%

Shares of NYSE:NOW traded down $3.43 on Friday, reaching $1,011.80. The company had a trading volume of 2,663,194 shares, compared to its average volume of 1,516,529. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The firm's 50 day simple moving average is $899.20 and its 200-day simple moving average is $975.24. The firm has a market capitalization of $209.43 billion, a PE ratio of 148.14, a PEG ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business posted $3.41 EPS. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the sale, the director now owns 3,205 shares of the company's stock, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director now directly owns 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,102 shares of company stock worth $2,944,038. Insiders own 0.38% of the company's stock.

About ServiceNow

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.