Prosperity Consulting Group LLC Acquires 224 Shares of ServiceNow, Inc. (NYSE:NOW)

Prosperity Consulting Group LLC increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 45.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 713 shares of the information technology services provider’s stock after buying an additional 224 shares during the period. Prosperity Consulting Group LLC’s holdings in ServiceNow were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after acquiring an additional 53,719 shares in the last quarter. Norges Bank bought a new position in ServiceNow during the fourth quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA grew its holdings in ServiceNow by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after purchasing an additional 81,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of NYSE NOW traded up $20.55 during trading hours on Friday, reaching $806.47. 1,193,423 shares of the stock traded hands, compared to its average volume of 1,020,612. The company’s 50-day simple moving average is $732.81 and its two-hundred day simple moving average is $743.99. The company has a market capitalization of $165.33 billion, a P/E ratio of 86.25, a price-to-earnings-growth ratio of 4.93 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Equities research analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp reduced their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday. Wolfe Research reissued an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Morgan Stanley increased their price objective on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Citigroup increased their target price on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $813.28.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total value of $90,922.50. Following the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 in the last quarter. 0.25% of the stock is owned by insiders.

About ServiceNow

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.