Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stake in ServiceNow, Inc. $NOW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 22.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,512 shares of the information technology services provider’s stock after acquiring an additional 455 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in ServiceNow were worth $2,583,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Bogart Wealth LLC raised its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the first quarter worth approximately $26,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the period. Global X Japan Co. Ltd. bought a new stake in shares of ServiceNow in the second quarter worth approximately $30,000. Finally, Dagco Inc. bought a new stake in shares of ServiceNow in the first quarter worth approximately $33,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the company’s stock in a transaction that occurred on 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 quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $911.75 on Friday. The firm has a market cap of $189.64 billion, a P/E ratio of 114.83, a PEG ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a 50 day simple moving average of $914.67 and a two-hundred day simple moving average of $929.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on NOW shares. UBS Group reduced 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. Barclays set a $1,210.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a research report on Saturday, September 27th. Cantor Fitzgerald restated an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Finally, Oppenheimer restated an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

About ServiceNow

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.