1,326 Shares in ServiceNow, Inc. $NOW Acquired by Orion Investment Co

Key Points

• Orion Investment Co purchased 1,326 shares of ServiceNow, Inc., valued at approximately $1,056,000, during the first quarter.
• ServiceNow's stock opened at $888.82, with a market cap of $184.87 billion and a 22.4% revenue increase compared to the same quarter last year.
• Wells Fargo and Piper Sandler both raised their target prices for ServiceNow shares, with Wells Fargo setting the new target at $1,225.00 and Piper Sandler at $1,150.00, maintaining an "overweight" rating.

Orion Investment Co bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,326 shares of the information technology services provider's stock, valued at approximately $1,056,000.

Several other large investors have also recently bought and sold shares of the stock. Haverford Trust Co increased its stake in ServiceNow by 0.9% during the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after buying an additional 10 shares during the period. Edgemoor Investment Advisors Inc. increased its stake in ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC increased its stake in ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after buying an additional 11 shares during the period. one8zero8 LLC increased its stake in ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after buying an additional 11 shares during the period. Finally, Capital Investment Advisory Services LLC increased its stake in ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Down 1.1%

Shares of NOW traded down $10.12 during midday trading on Friday, hitting $918.49. The stock had a trading volume of 1,881,767 shares, compared to its average volume of 1,914,586. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The business has a 50-day simple moving average of $945.88 and a two-hundred day simple moving average of $925.54. The firm has a market cap of $191.04 billion, a P/E ratio of 115.68, a price-to-earnings-growth ratio of 4.19 and a beta of 0.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the company posted $3.13 earnings per share. The business's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on NOW shares. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group lowered their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Raymond James Financial lifted their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,302 shares of company stock valued at $10,956,796. Company insiders own 0.38% of the company's stock.

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.