Horizon Investments LLC Buys 492 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Points

• Horizon Investments LLC increased its holdings in ServiceNow by 7.9%, owning a total of 6,704 shares valued at approximately $5.34 million after purchasing additional shares in Q1.
• Insider selling activity includes Director Anita M. Sands, who sold 428 shares for about $433,825, and Vice Chairman Nicholas Tzitzon, who sold 1,171 shares for around $1.19 million.
• ServiceNow reported $4.09 EPS for the latest quarter, surpassing expectations with a revenue of $3.22 billion, showing a 22.4% year-over-year growth.

Horizon Investments LLC grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,704 shares of the information technology services provider's stock after purchasing an additional 492 shares during the quarter. Horizon Investments LLC's holdings in ServiceNow were worth $5,337,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of ServiceNow in the fourth quarter worth about $576,000. Main Street Financial Solutions LLC purchased a new position in ServiceNow during the fourth quarter valued at approximately $341,000. Capital Square LLC grew its stake in ServiceNow by 6.9% during the fourth quarter. Capital Square LLC now owns 701 shares of the information technology services provider's stock valued at $789,000 after acquiring an additional 45 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC lifted its position in ServiceNow by 63.7% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 406 shares of the information technology services provider's stock valued at $430,000 after purchasing an additional 158 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 239 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the completion of the transaction, the director directly owned 10,404 shares of the company's stock, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lawrence Jackson sold 757 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total transaction of $749,808.50. Following the transaction, the director directly owned 588 shares of the company's stock, valued at $582,414. This represents a 56.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,738 shares of company stock worth $5,713,973 over the last ninety days. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NOW shares. Royal Bank Of Canada upped their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and increased their price target for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. UBS Group decreased their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Finally, Robert W. Baird increased their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Stock Up 1.9%

ServiceNow stock traded up $16.03 during midday trading on Friday, hitting $866.89. 1,758,039 shares of the company's stock were exchanged, compared to its average volume of 1,860,190. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a market cap of $180.31 billion, a PE ratio of 109.18, a P/E/G ratio of 3.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a 50-day moving average of $967.03 and a two-hundred day moving average of $935.06.

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

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.