Empirical Finance LLC Purchases 159 Shares of ServiceNow, Inc. (NYSE:NOW)

Empirical Finance LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,644 shares of the information technology services provider’s stock after acquiring an additional 159 shares during the quarter. Empirical Finance LLC’s holdings in ServiceNow were worth $5,942,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quent Capital LLC lifted its holdings in ServiceNow by 4.1% in the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of ServiceNow by 7.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 2,568 shares of the information technology services provider’s stock worth $1,958,000 after purchasing an additional 178 shares during the last quarter. M&G Plc acquired a new stake in shares of ServiceNow during the first quarter worth $11,030,000. Pinkerton Retirement Specialists LLC bought a new stake in ServiceNow in the first quarter valued at about $274,000. Finally, First Foundation Advisors lifted its stake in ServiceNow by 3.3% in the first quarter. First Foundation Advisors now owns 4,792 shares of the information technology services provider’s stock valued at $3,653,000 after buying an additional 151 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 33.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,325 shares of company stock worth $5,024,928. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOW. Deutsche Bank Aktiengesellschaft upped their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. KeyCorp boosted their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $974.04.

ServiceNow Stock Performance

Shares of NOW opened at $1,030.00 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a 50-day moving average of $924.67 and a 200-day moving average of $819.71. The company has a market cap of $212.18 billion, a PE ratio of 161.70, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current 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.