Empowered Funds LLC Acquires 1,797 Shares of ServiceNow, Inc. (NYSE:NOW)

Empowered Funds LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 34.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,087 shares of the information technology services provider’s stock after purchasing an additional 1,797 shares during the quarter. Empowered Funds LLC’s holdings in ServiceNow were worth $6,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the last quarter. Swedbank AB grew its holdings in ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after acquiring an additional 120,983 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the period. Ameriprise Financial Inc. raised its stake in shares of ServiceNow by 21.5% during the second quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock valued at $750,513,000 after acquiring an additional 168,734 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of ServiceNow by 1.8% during the second quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock worth $533,316,000 after purchasing an additional 11,979 shares during the period. 87.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NOW has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group upped their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. KeyCorp raised their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Finally, BMO Capital Markets raised their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $974.04.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,325 shares of company stock valued at $5,024,928. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $1,011.39 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. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66. The stock has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98. The business’s fifty day moving average price is $932.47 and its 200-day moving average price is $824.15.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the company posted $1.21 EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts predict 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.