Thrive Wealth Management LLC Has $441,000 Position in ServiceNow, Inc. (NYSE:NOW)

Thrive Wealth Management LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 416 shares of the information technology services provider’s stock after buying an additional 18 shares during the quarter. Thrive Wealth Management LLC’s holdings in ServiceNow were worth $441,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter worth about $30,000. DT Investment Partners LLC raised its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares in the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the 2nd quarter worth approximately $39,000. Oakworth Capital Inc. grew its position in ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Finally, Dunhill Financial LLC lifted its holdings in shares of ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 1.4 %

NYSE:NOW opened at $1,072.02 on Monday. The stock has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $1,069.67 and a two-hundred day moving average price of $932.23. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, 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 this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOW. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Truist Financial increased their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. Royal Bank of Canada lifted their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,080.38.

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.