Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 455 Shares of ServiceNow, Inc. $NOW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in ServiceNow, Inc. (NYSE:NOW) by 22.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,512 shares of the information technology services provider’s stock after purchasing 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in ServiceNow in the 1st quarter worth about $382,000. Corient IA LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at approximately $796,000. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at approximately $1,820,000. Goldman Sachs Group Inc. lifted its stake in shares of 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 buying an additional 840,731 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of ServiceNow during the 1st quarter valued at approximately $19,278,000. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. The trade was a 76.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,062,590.82. The trade was a 46.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOW. Piper Sandler upped their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Jefferies Financial Group increased their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Price Performance

NOW stock opened at $911.75 on Friday. The firm’s 50-day moving average price is $914.67 and its two-hundred day moving average price is $929.33. The stock has a market capitalization of $189.64 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 4.10 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for 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 for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.13 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 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.