Apollon Wealth Management LLC Has $3.31 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Apollon Wealth Management LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,123 shares of the information technology services provider’s stock after buying an additional 288 shares during the quarter. Apollon Wealth Management LLC’s holdings in ServiceNow were worth $3,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Redhawk Wealth Advisors Inc. lifted its stake in ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after acquiring an additional 10 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in ServiceNow by 1.0% during the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares during the last quarter. Institute for Wealth Management LLC. grew its position in ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock valued at $2,779,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network raised its holdings in ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 12 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after buying an additional 12 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,702 shares of company stock worth $20,965,306. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Mizuho raised their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup reduced their price objective on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Cantor Fitzgerald assumed coverage on ServiceNow in a research report on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective on the stock. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

ServiceNow Stock Performance

NYSE:NOW opened at $1,007.79 on Friday. The company has a market capitalization of $207.61 billion, a PE ratio of 147.55, a P/E/G ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day simple moving average of $1,080.32 and a two-hundred day simple moving average of $963.81.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.