Prosperity Consulting Group LLC Has $639,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Prosperity Consulting Group LLC boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 13.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 812 shares of the information technology services provider’s stock after purchasing an additional 99 shares during the quarter. Prosperity Consulting Group LLC’s holdings in ServiceNow were worth $639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. Norges Bank acquired a new stake in ServiceNow in the 4th quarter worth about $1,648,259,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in ServiceNow by 18.3% in the 4th 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 buying an additional 271,153 shares during the period. Bank of New York Mellon Corp increased its holdings in ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in ServiceNow by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after buying an additional 101,485 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.8 %

Shares of NYSE NOW opened at $878.95 on Friday. The company has a market capitalization of $181.06 billion, a P/E ratio of 94.01, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $889.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50 day moving average price is $807.22 and its 200-day moving average price is $766.50.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm 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 for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 EPS. Equities analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last quarter. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NOW. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. KeyCorp decreased their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Robert W. Baird raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Guggenheim reissued a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. Finally, JMP Securities raised their target price on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $849.62.

ServiceNow Company 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.