Empower Advisory Group LLC Buys 88 Shares of ServiceNow, Inc. (NYSE:NOW)

Empower Advisory Group LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.6% during the 4th quarter, Holdings Channel reports. The firm owned 3,504 shares of the information technology services provider’s stock after buying an additional 88 shares during the period. Empower Advisory Group LLC’s holdings in ServiceNow were worth $3,715,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in ServiceNow during the 3rd quarter valued at approximately $30,000. Heck Capital Advisors LLC bought a new stake in ServiceNow during the 4th quarter valued at approximately $37,000. Stonebridge Financial Group LLC purchased a new position in ServiceNow during the 4th quarter valued at approximately $37,000. DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% during 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 in the last quarter. Finally, Avion Wealth grew its holdings in ServiceNow by 44.8% during the 4th quarter. Avion Wealth now owns 42 shares of the information technology services provider’s stock valued at $44,000 after buying an additional 13 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NOW. Citigroup cut their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. JMP Securities restated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Jefferies Financial Group cut their price target on ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Canaccord Genuity Group raised their price target on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Guggenheim reiterated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Trading Up 0.9 %

Shares of NYSE NOW opened at $995.97 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $1,067.83 and a two-hundred day simple moving average of $974.54. The firm has a market cap of $205.17 billion, a PE ratio of 145.82, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a stock buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 313 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 455 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,811 shares of company stock valued at $11,159,073 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.