Adell Harriman & Carpenter Inc. Sells 149 Shares of ServiceNow, Inc. $NOW

Adell Harriman & Carpenter Inc. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 843 shares of the information technology services provider’s stock after selling 149 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in ServiceNow were worth $867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after purchasing an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ServiceNow by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after purchasing an additional 188,292 shares during the period. Jennison Associates LLC lifted its position in ServiceNow by 18.1% during the second quarter. Jennison Associates LLC now owns 2,376,714 shares of the information technology services provider’s stock valued at $2,443,452,000 after purchasing an additional 363,793 shares during the period. Nuveen LLC bought a new position in ServiceNow during the first quarter valued at approximately $1,817,535,000. Finally, Alliancebernstein L.P. increased its holdings in ServiceNow by 16.2% during the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after buying an additional 242,132 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction on 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 in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,980 shares of company stock valued at $16,049,017 in the last quarter. Company insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $911.75 on Thursday. 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 firm has a fifty day moving average price of $920.43 and a 200 day moving average price of $946.08. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market cap of $189.64 billion, a price-to-earnings ratio of 114.83, a P/E/G ratio of 4.23 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 29th. The information technology services provider reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.61. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the business earned $3.72 earnings per share. ServiceNow’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on NOW. Guggenheim reaffirmed a “sell” rating and set a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Jefferies Financial Group upped their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Citigroup upped their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. DA Davidson upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,131.07.

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.