Prosperity Wealth Management Inc. Decreases Position in ServiceNow, Inc. (NYSE:NOW)

Prosperity Wealth Management Inc. lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 835 shares of the information technology services provider’s stock after selling 17 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in ServiceNow were worth $590,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after purchasing an additional 122,577 shares during the period. State Street Corp boosted its stake in shares of ServiceNow by 1.8% during the first quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock worth $3,755,904,000 after buying an additional 141,744 shares during the period. Morgan Stanley increased its position in ServiceNow by 4.3% in the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after acquiring an additional 288,522 shares during the period. FMR LLC raised its stake in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in ServiceNow by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock worth $1,663,879,000 after acquiring an additional 79,037 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOW. Stifel Nicolaus reissued a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. Mizuho upped their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. The Goldman Sachs Group boosted their price target on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Oppenheimer boosted their target price on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $780.00.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 over the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Trading Up 1.2 %

Shares of NYSE:NOW traded up $8.97 during trading on Wednesday, reaching $744.78. The stock had a trading volume of 1,085,831 shares, compared to its average volume of 904,049. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $152.96 billion, a P/E ratio of 88.56, a PEG ratio of 4.65 and a beta of 0.97. The business has a fifty day moving average price of $768.63 and a 200-day moving average price of $700.17. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the firm posted $0.88 earnings per share. ServiceNow’s revenue was up 25.6% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share 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.