Apollon Wealth Management LLC Increases Position in ServiceNow, Inc. (NYSE:NOW)

Apollon Wealth Management LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,660 shares of the information technology services provider’s stock after acquiring an additional 33 shares during the period. Apollon Wealth Management LLC’s holdings in ServiceNow were worth $2,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Nisa Investment Advisors LLC grew its stake in shares of ServiceNow by 2.3% in the second quarter. Nisa Investment Advisors LLC now owns 57,032 shares of the information technology services provider’s stock worth $44,865,000 after acquiring an additional 1,289 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in ServiceNow by 62.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,889 shares of the information technology services provider’s stock worth $3,059,000 after buying an additional 1,500 shares in the last quarter. BTC Capital Management Inc. increased its position in shares of ServiceNow by 19.4% in the second quarter. BTC Capital Management Inc. now owns 1,008 shares of the information technology services provider’s stock valued at $793,000 after buying an additional 164 shares in the last quarter. Nvest Financial LLC purchased a new position in shares of ServiceNow during the 2nd quarter worth approximately $212,000. Finally, Western Wealth Management LLC raised its stake in ServiceNow by 22.9% in the 2nd quarter. Western Wealth Management LLC now owns 2,005 shares of the information technology services provider’s stock valued at $1,577,000 after purchasing an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOW. TD Cowen lifted their price target on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Thursday, July 25th. BMO Capital Markets boosted their price objective on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial upped their target price on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Robert W. Baird raised their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $849.62.

Insider Transactions at ServiceNow

In other news, insider Kevin Thomas Mcbride sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $825.00, for a total transaction of $82,500.00. Following the completion of the sale, the insider now owns 2,994 shares in the company, valued at approximately $2,470,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the sale, the director now directly owns 10,767 shares in the company, valued at $8,850,474. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kevin Thomas Mcbride sold 100 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $825.00, for a total transaction of $82,500.00. Following the sale, the insider now owns 2,994 shares of the company’s stock, valued at approximately $2,470,050. The disclosure for this sale can be found here. Insiders sold 9,576 shares of company stock valued at $7,296,716 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.6 %

ServiceNow stock traded up $4.70 during midday trading on Monday, hitting $832.26. 641,374 shares of the company’s stock were exchanged, compared to its average volume of 1,318,180. The company has a market cap of $170.61 billion, a PE ratio of 88.34, a P/E/G ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $850.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50-day moving average of $770.45 and a two-hundred day moving average of $757.15.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. As a group, analysts expect that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

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.