RGM Capital LLC Sells 60,000 Shares of ServiceNow, Inc. (NYSE:NOW)

RGM Capital LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 36.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 102,994 shares of the information technology services provider’s stock after selling 60,000 shares during the period. ServiceNow accounts for approximately 4.0% of RGM Capital LLC’s holdings, making the stock its 12th largest position. RGM Capital LLC’s holdings in ServiceNow were worth $92,117,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Truvestments Capital LLC bought a new stake in shares of ServiceNow during the third quarter worth approximately $30,000. Versant Capital Management Inc boosted its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the period. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares during the period. Finally, EntryPoint Capital LLC lifted its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their position. The sale 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 stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,787 shares of company stock valued at $17,841,028 in the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 1.6 %

Shares of NYSE:NOW traded down $16.66 during midday trading on Wednesday, hitting $1,053.41. 65,886 shares of the stock were exchanged, compared to its average volume of 1,279,875. The business’s 50-day moving average price is $955.40 and its 200 day moving average price is $841.01. The stock has a market capitalization of $217.00 billion, a price-to-earnings ratio of 166.42, a P/E/G ratio of 6.04 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. 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 posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. Analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial increased their price objective on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. TD Cowen boosted their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, October 21st. BMO Capital Markets raised their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, KeyCorp lifted their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $989.07.

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.