206,218 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Empirical Asset Management LLC

Empirical Asset Management LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 206,218 shares of the information technology services provider’s stock, valued at approximately $218,616,000. ServiceNow makes up approximately 6.4% of Empirical Asset Management LLC’s portfolio, making the stock its largest holding. Empirical Asset Management LLC owned 0.10% of ServiceNow at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NOW. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the 3rd quarter valued at about $30,000. DT Investment Partners LLC grew its stake in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. Oakworth Capital Inc. increased its holdings in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow during the 2nd quarter worth approximately $39,000. Finally, Dunhill Financial LLC lifted its holdings in ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NOW shares. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Sanford C. Bernstein upped their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,071.39.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the transaction, the director now owns 10,467 shares in the company, valued at $10,968,892.65. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,276 shares of company stock worth $20,535,115 over the last 90 days. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of NOW opened at $1,057.20 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $1,067.55 and its 200-day simple moving average is $928.41. The firm has a market capitalization of $217.78 billion, a price-to-earnings ratio of 164.42, a PEG ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal 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.