Apollon Wealth Management LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Apollon Wealth Management LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 136.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,399 shares of the information technology services provider's stock after buying an additional 4,276 shares during the period. Apollon Wealth Management LLC's holdings in ServiceNow were worth $5,891,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC increased its stake in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after buying an additional 17 shares during the period. Slow Capital Inc. increased its stake in shares of ServiceNow by 93.8% during the first quarter. Slow Capital Inc. now owns 11,408 shares of the information technology services provider's stock valued at $9,082,000 after buying an additional 5,520 shares during the period. Edgestream Partners L.P. purchased a new position in shares of ServiceNow during the first quarter valued at $13,132,000. Leelyn Smith LLC increased its stake in shares of ServiceNow by 1.9% during the first quarter. Leelyn Smith LLC now owns 2,545 shares of the information technology services provider's stock valued at $2,026,000 after buying an additional 48 shares during the period. Finally, Florida Financial Advisors LLC increased its stake in shares of ServiceNow by 25.1% during the first quarter. Florida Financial Advisors LLC now owns 259 shares of the information technology services provider's stock valued at $206,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. DA Davidson started coverage on ServiceNow in a research note on Wednesday, June 25th. They issued a "buy" rating and a $1,150.00 target price on the stock. Robert W. Baird lifted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,073.13.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director owned 10,891 shares of the company's stock, valued at $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,601 shares of company stock valued at $6,577,363 in the last three months. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $9.86 on Wednesday, reaching $966.78. 984,145 shares of the stock were exchanged, compared to its average volume of 1,488,788. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market capitalization of $200.10 billion, a price-to-earnings ratio of 131.36, a PEG ratio of 4.40 and a beta of 0.94. The business has a 50 day moving average price of $1,007.21 and a two-hundred day moving average price of $957.83.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the company posted $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts anticipate 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.