ServiceNow, Inc. $NOW Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,526 shares of the information technology services provider's stock after acquiring an additional 324 shares during the period. Empowered Funds LLC's holdings in ServiceNow were worth $4,399,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NOW. Wealth Preservation Advisors LLC acquired a new stake in ServiceNow during the 1st quarter valued at $382,000. Corient IA LLC acquired a new stake in ServiceNow during the 1st quarter valued at $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in ServiceNow during the 1st quarter valued at $1,820,000. ASR Vermogensbeheer N.V. acquired a new stake in ServiceNow during the 1st quarter valued at $19,278,000. Finally, Goldman Sachs Group Inc. grew its holdings in ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after purchasing an additional 840,731 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Barclays set a $1,210.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Mizuho raised their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. DA Davidson raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction dated 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 of the company's stock, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.9%

NYSE NOW opened at $930.04 on Friday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a 50-day simple moving average of $927.34 and a 200-day simple moving average of $922.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $193.45 billion, a PE ratio of 117.13, a price-to-earnings-growth ratio of 4.23 and a beta of 0.91.

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

ServiceNow Company 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.

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