Talbot Financial LLC Raises Position in ServiceNow, Inc. $NOW

Key Points

• Talbot Financial LLC boosted its stake in ServiceNow by 374.7% in Q4, adding 75,444 shares to hold 95,576 shares worth about $14.64 million, and institutional investors now own 87.18% of the company.
• Company insiders have been net sellers—16,237 shares sold in the last three months (≈$1.70M), leaving insiders with just 0.34% ownership.
• ServiceNow beat Q4 estimates with $0.92 EPS vs $0.89 and revenue of $3.57B (up 20.7% YoY); analysts maintain a Moderate Buy consensus with a $188.59 average target despite the stock trading near $102.46.

Talbot Financial LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 374.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,576 shares of the information technology services provider's stock after purchasing an additional 75,444 shares during the period. Talbot Financial LLC's holdings in ServiceNow were worth $14,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC raised its stake in 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 acquiring an additional 18 shares during the last quarter. Noble Wealth Management PBC raised its stake in ServiceNow by 400.0% in the 4th quarter. Noble Wealth Management PBC now owns 160 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 128 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in ServiceNow in the 4th quarter worth $26,000. Albion Financial Group UT raised its stake in ServiceNow by 400.0% in the 4th quarter. Albion Financial Group UT now owns 170 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 136 shares during the last quarter. Finally, Bogart Wealth LLC raised its stake in ServiceNow by 93.8% in the 3rd quarter. Bogart Wealth LLC now owns 31 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the sale, the director directly owned 46,430 shares of the company's stock, valued at approximately $4,697,323.10. This trade represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 16,237 shares of company stock valued at $1,697,162. Company insiders own 0.34% of the company's stock.

ServiceNow Price Performance

Shares of NOW opened at $102.46 on Tuesday. The business's 50-day moving average is $109.76 and its two-hundred day moving average is $146.19. The company has a market capitalization of $107.17 billion, a P/E ratio of 61.43, a P/E/G ratio of 1.71 and a beta of 1.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. ServiceNow, Inc. has a fifty-two week low of $98.00 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOW. BNP Paribas Exane upgraded ServiceNow from a "neutral" rating to an "outperform" rating and set a $140.00 target price for the company in a research note on Monday, March 16th. Mizuho reduced their target price on ServiceNow from $210.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, January 21st. Benchmark began coverage on ServiceNow in a research note on Wednesday, April 1st. They issued a "buy" rating and a $125.00 target price for the company. Arete Research set a $200.00 target price on ServiceNow in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada reduced their target price on ServiceNow from $185.00 to $150.00 and set an "outperform" rating for the company in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $188.59.

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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