Thrive Wealth Management LLC Sells 25 Shares of ServiceNow, Inc. (NYSE:NOW)

Thrive Wealth Management LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 398 shares of the information technology services provider’s stock after selling 25 shares during the quarter. Thrive Wealth Management LLC’s holdings in ServiceNow were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NOW. Creekmur Asset Management LLC purchased a new stake in ServiceNow during the first quarter valued at about $25,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in ServiceNow during the fourth quarter valued at about $29,000. EntryPoint Capital LLC boosted its holdings in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NOW stock traded up $27.11 on Friday, hitting $917.75. The company had a trading volume of 1,183,326 shares, compared to its average volume of 1,285,470. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $945.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $848.43 and its 200 day simple moving average is $780.59. The stock has a market cap of $188.14 billion, a price-to-earnings ratio of 98.16, a P/E/G ratio of 5.55 and a beta of 0.99.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOW. Stifel Nicolaus increased their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. TD Cowen increased their target price on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. Wells Fargo & Company increased their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup increased their price target on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $855.44.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by insiders.

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.