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

Regatta Capital Group LLC cut its position in ServiceNow, Inc. (NYSE:NOW) by 15.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,041 shares of the information technology services provider’s stock after selling 193 shares during the quarter. Regatta Capital Group LLC’s holdings in ServiceNow were worth $1,104,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NOW. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth $30,000. DT Investment Partners LLC boosted its stake 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 valued at $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. grew its holdings in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Dunhill Financial LLC increased its position in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares in the last quarter. Finally, Vestor Capital LLC acquired a new stake in ServiceNow in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock worth $21,016,751 over the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus increased their target price on ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Guggenheim reiterated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $1,124.64 on Friday. The company has a market cap of $231.68 billion, a PE ratio of 174.91, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The business has a 50 day moving average price of $1,077.07 and a 200-day moving average price of $942.47.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating 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 analyst estimates of $2.75 billion. During the same period in the prior year, the firm posted $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

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.