Orion Investment Co Grows Stock Holdings in ServiceNow, Inc. $NOW

Orion Investment Co lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 397.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the information technology services provider’s stock after purchasing an additional 9,589 shares during the period. Orion Investment Co’s holdings in ServiceNow were worth $1,838,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IAG Wealth Partners LLC lifted its position in shares of ServiceNow by 200.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 27 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 18 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of ServiceNow during the 3rd quarter worth $29,000. Texas Capital Bancshares Inc TX purchased a new stake in shares of ServiceNow during the 3rd quarter worth $37,000. Ameriflex Group Inc. lifted its position in shares of ServiceNow by 187.5% during the 3rd quarter. Ameriflex Group Inc. now owns 46 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 30 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new stake in ServiceNow in the third quarter valued at $50,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider directly owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at approximately $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,071 shares of company stock valued at $2,529,956 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $114.43 on Tuesday. The company has a 50-day simple moving average of $99.69 and a 200-day simple moving average of $121.36. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $117.98 billion, a price-to-earnings ratio of 68.20, a PEG ratio of 1.86 and a beta of 0.94.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 2.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOW. Bank of America began coverage on shares of ServiceNow in a research note on Monday, May 18th. They issued a “buy” rating and a $130.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Robert W. Baird decreased their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. BNP Paribas Exane upgraded shares of ServiceNow from a “neutral” rating to an “outperform” rating and set a $140.00 price objective for the company in a research note on Monday, March 16th. Finally, Stifel Nicolaus decreased their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $141.85.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.