NOW
A very committed shopping spree
Hobart Private Capital didn’t just nibble at ServiceNow — it basically emptied the cart. The firm boosted its stake by 891.8% in Q4, ending with 14,430 shares valued at roughly $2.21 million.
For a stock like ServiceNow, that matters because institutions tend to move like elephants: slow, deliberate, and usually not for vibes. When one of them doubles down this hard, it can signal confidence in the long-term story even if the near-term mood on Wall Street is a little messy.
The money trail gets interesting
The filing also shows institutional investors now own about 87.18% of the stock. Translation: this thing is very much a Wall Street favorite, even if the favorite-child treatment comes with a lot of second-guessing.
A few more breadcrumbs from the same note:
- Corporate insiders sold 16,237 shares during the quarter, worth about $1.70 million.
- That included some notable director selling.
- Insiders now own just 0.34% of the company.
Why you should care
ServiceNow recently posted a Q4 beat, with EPS of $0.92 versus $0.89 expected and revenue of $3.57 billion, up 20.7% year over year. So the setup is a familiar one: fundamentals are still humming, institutions are still buying, and analysts are still trimming targets like they’re editing a too-long group chat.
That tension is the story. If you own the stock, the question isn’t whether people like ServiceNow — they clearly do. It’s whether the market has already priced in enough perfection.
Big picture: this isn’t a fireworks headline, but it is another clue that the smart-money camp is still leaning into ServiceNow while the analyst crowd keeps taking tiny slices off the price target.