Carlton Hofferkamp & Jenks Wealth Management LLC Reduces Position in ServiceNow, Inc. $NOW

Carlton Hofferkamp & Jenks Wealth Management LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467 shares of the information technology services provider’s stock after selling 50 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in ServiceNow were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NOW. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the 1st quarter valued at $26,000. WASHINGTON TRUST Co boosted its holdings in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow in the 2nd quarter valued at $30,000. Finally, LGT Financial Advisors LLC acquired a new position in shares of ServiceNow in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 1.0%

NOW stock opened at $929.77 on Friday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a market capitalization of $193.39 billion, a PE ratio of 117.10, a price-to-earnings-growth ratio of 4.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $917.85 and a 200-day moving average of $940.95.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business earned $3.13 EPS. The business’s revenue was up 22.4% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NOW shares. Morgan Stanley upgraded shares of ServiceNow from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. Guggenheim reiterated a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. Zacks Research upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Finally, Needham & Company LLC increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,124.17.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% of the stock is currently owned by insiders.

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.