Prospera Financial Services Inc Sells 190 Shares of ServiceNow, Inc. (NYSE:NOW)

Prospera Financial Services Inc decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 11.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,500 shares of the information technology services provider’s stock after selling 190 shares during the period. Prospera Financial Services Inc’s holdings in ServiceNow were worth $1,341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quent Capital LLC boosted its position in ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after purchasing an additional 30 shares during the period. Edgestream Partners L.P. acquired a new stake in ServiceNow in the 1st quarter valued at approximately $210,000. EntryPoint Capital LLC grew its stake in shares of 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 last quarter. CreativeOne Wealth LLC raised its stake in ServiceNow by 81.8% during the 1st quarter. CreativeOne Wealth LLC now owns 640 shares of the information technology services provider’s stock valued at $488,000 after purchasing an additional 288 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in ServiceNow by 22.5% in the 1st quarter. Advisors Asset Management Inc. now owns 7,905 shares of the information technology services provider’s stock worth $6,027,000 after purchasing an additional 1,453 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent research reports. KeyCorp lifted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Mizuho increased their price objective on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday. Truist Financial upped their target price on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Scotiabank began coverage on ServiceNow in a research note on Tuesday. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $986.39.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,644 shares of company stock valued at $19,381,744 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 2.5 %

NYSE:NOW opened at $1,048.34 on Friday. The stock has a market capitalization of $215.96 billion, a PE ratio of 163.04, a price-to-earnings-growth ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day simple moving average is $944.90 and its 200-day simple moving average is $832.32.

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

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.