Prosperity Financial Group Inc. Acquires 34 Shares of ServiceNow, Inc. (NYSE:NOW)

Prosperity Financial Group Inc. lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 651 shares of the information technology services provider’s stock after purchasing an additional 34 shares during the period. Prosperity Financial Group Inc.’s holdings in ServiceNow were worth $582,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in shares of ServiceNow during the first quarter worth approximately $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. DT Investment Partners LLC raised its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. EntryPoint Capital LLC lifted its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new position in ServiceNow during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,787 shares of company stock worth $17,841,028 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NOW shares. JMP Securities upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Finally, Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $986.39.

ServiceNow Price Performance

NYSE:NOW opened at $1,060.60 on Monday. The firm’s fifty day moving average is $948.53 and its two-hundred day moving average is $836.29. The firm has a market cap of $218.48 billion, a price-to-earnings ratio of 164.95, a PEG ratio of 6.09 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,064.59.

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