HUB Investment Partners LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

HUB Investment Partners LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,098 shares of the information technology services provider’s stock after purchasing an additional 39 shares during the quarter. HUB Investment Partners LLC’s holdings in ServiceNow were worth $4,344,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Atala Financial Inc purchased a new position in ServiceNow in the 4th quarter valued at about $28,000. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth about $30,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. increased its position 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 worth $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $34,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last 90 days. 0.25% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $843.60 on Thursday. The business has a 50-day moving average price of $979.74 and a two-hundred day moving average price of $984.61. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $173.78 billion, a P/E ratio of 123.51, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has approved a stock repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on NOW. Scotiabank dropped their price target on ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a research report on Monday. Needham & Company LLC raised their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Raymond James assumed coverage on shares of ServiceNow in a report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Mizuho reduced their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, Jefferies Financial Group reduced their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.31.

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.