Regatta Capital Group LLC Sells 193 Shares of ServiceNow, Inc. (NYSE:NOW)

Regatta Capital Group LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 15.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,041 shares of the information technology services provider’s stock after selling 193 shares during the period. Regatta Capital Group LLC’s holdings in ServiceNow were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of NOW. Cora Capital Advisors LLC bought a new position in ServiceNow in the 4th quarter worth approximately $217,000. Jamison Private Wealth Management Inc. boosted its stake in ServiceNow by 6.5% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 2,319 shares of the information technology services provider’s stock worth $2,458,000 after purchasing an additional 142 shares during the period. First Citizens Bank & Trust Co. grew its holdings in ServiceNow by 35.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 1,230 shares of the information technology services provider’s stock valued at $1,304,000 after buying an additional 325 shares in the last quarter. Moody Lynn & Lieberson LLC increased its position in shares of ServiceNow by 11.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 32,784 shares of the information technology services provider’s stock valued at $34,755,000 after buying an additional 3,383 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth about $1,483,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several recent analyst reports. Cantor Fitzgerald started coverage on shares of ServiceNow in a research note on Friday, January 17th. They set an “overweight” rating and a $1,332.00 price objective for the company. Wells Fargo & Company boosted their price target on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein increased their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their price objective on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group raised their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,093.34.

ServiceNow Price Performance

Shares of NOW stock opened at $1,124.64 on Friday. The business’s 50 day moving average price is $1,077.07 and its 200-day moving average price is $942.47. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90. The firm has a market cap of $231.68 billion, a P/E ratio of 174.91, a P/E/G ratio of 5.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, equities research analysts anticipate that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last 90 days. 0.25% of the stock is owned by company 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.