Regal Investment Advisors LLC Has $789,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Regal Investment Advisors LLC cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 744 shares of the information technology services provider’s stock after selling 71 shares during the quarter. Regal Investment Advisors LLC’s holdings in ServiceNow were worth $789,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Montag & Caldwell LLC boosted its holdings in shares of ServiceNow by 15.1% during the fourth quarter. Montag & Caldwell LLC now owns 13,717 shares of the information technology services provider’s stock worth $14,542,000 after acquiring an additional 1,802 shares during the period. Jump Financial LLC boosted its stake in ServiceNow by 288.8% in the 4th quarter. Jump Financial LLC now owns 6,680 shares of the information technology services provider’s stock valued at $7,082,000 after purchasing an additional 4,962 shares during the period. Bridgewater Associates LP acquired a new position in ServiceNow in the 4th quarter valued at $59,784,000. Kane Investment Management Inc. acquired a new stake in shares of ServiceNow during the fourth quarter worth $1,912,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of ServiceNow during the fourth quarter worth $576,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 2.4 %

Shares of NYSE NOW opened at $796.62 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a 50 day simple moving average of $862.65 and a 200 day simple moving average of $971.02. The firm has a market cap of $164.90 billion, a PE ratio of 116.64, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 2,511 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at $4,384,373.88. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,896 shares of company stock worth $19,568,441. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup lowered their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price target on ServiceNow from $1,175.00 to $950.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Needham & Company LLC lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their target price on ServiceNow from $1,200.00 to $1,050.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,057.17.

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.