Thrive Wealth Management LLC Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Thrive Wealth Management LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 398 shares of the information technology services provider’s stock after selling 25 shares during the period. Thrive Wealth Management LLC’s holdings in ServiceNow were worth $356,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOW. Campbell & CO Investment Adviser LLC purchased a new stake in ServiceNow in the 4th quarter valued at about $795,000. Oppenheimer & Co. Inc. boosted its position in ServiceNow by 13.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 5,552 shares of the information technology services provider’s stock valued at $3,922,000 after buying an additional 641 shares during the period. Cetera Advisor Networks LLC boosted its position in ServiceNow by 1.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 23,752 shares of the information technology services provider’s stock valued at $16,780,000 after buying an additional 248 shares during the period. Morningstar Investment Services LLC lifted its position in shares of ServiceNow by 72.7% in the 4th quarter. Morningstar Investment Services LLC now owns 1,340 shares of the information technology services provider’s stock worth $941,000 after purchasing an additional 564 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in shares of ServiceNow by 1.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,708 shares of the information technology services provider’s stock worth $1,913,000 after purchasing an additional 35 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Monday, September 9th. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, JMP Securities boosted their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $855.44.

ServiceNow Stock Performance

NYSE NOW traded up $27.11 during mid-day trading on Friday, reaching $917.75. 1,183,326 shares of the stock were exchanged, compared to its average volume of 1,285,470. The business’s 50 day moving average is $848.43 and its 200-day moving average is $780.59. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $945.46. The company has a market capitalization of $188.14 billion, a P/E ratio of 98.16, a P/E/G ratio of 5.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul John Smith sold 187 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.