MassMutual Private Wealth & Trust FSB Buys 825 Shares of ServiceNow, Inc. (NYSE:NOW)

MassMutual Private Wealth & Trust FSB lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,517 shares of the information technology services provider’s stock after acquiring an additional 825 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in ServiceNow were worth $12,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of ServiceNow by 7.6% in the second quarter. Intech Investment Management LLC now owns 6,388 shares of the information technology services provider’s stock worth $5,025,000 after purchasing an additional 450 shares in the last quarter. AE Wealth Management LLC increased its stake in ServiceNow by 38.5% in the 2nd quarter. AE Wealth Management LLC now owns 6,774 shares of the information technology services provider’s stock worth $5,329,000 after buying an additional 1,882 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in ServiceNow by 22.0% during the second quarter. Summit Trail Advisors LLC now owns 1,977 shares of the information technology services provider’s stock valued at $1,555,000 after acquiring an additional 357 shares during the period. Legacy Financial Advisors Inc. lifted its position in shares of ServiceNow by 5.8% in the second quarter. Legacy Financial Advisors Inc. now owns 824 shares of the information technology services provider’s stock valued at $648,000 after acquiring an additional 45 shares in the last quarter. Finally, Yarra Square Partners LP boosted its stake in shares of ServiceNow by 6.7% in the second quarter. Yarra Square Partners LP now owns 6,878 shares of the information technology services provider’s stock worth $5,411,000 after acquiring an additional 430 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada boosted their price target on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Barclays upped their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a report on Friday. They issued an “overweight” rating and a $1,332.00 price target on the stock. TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.38.

Insider Activity

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s 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 completion of the sale, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,731 shares of company stock worth $21,016,751. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,072.02 on Monday. The firm has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a PEG ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $1,069.67 and its 200 day moving average is $932.23.

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, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 EPS 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.