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

MassMutual Private Wealth & Trust FSB increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,517 shares of the information technology services provider's stock after buying an additional 825 shares during the period. 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 institutional investors have also recently added to or reduced their stakes in NOW. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC increased its stake in ServiceNow by 77.3% during the third 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 during the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow during the second quarter worth $39,000. Oakworth Capital Inc. lifted its position in shares of ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after buying an additional 14 shares during the last quarter. Finally, Dunhill Financial LLC boosted its holdings in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider's stock valued at $46,000 after buying an additional 21 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NOW shares. Scotiabank began coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 price objective on the stock. Wells Fargo & Company raised their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Barclays upped their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Mizuho raised their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Finally, Raymond James began coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 price target for the company. One research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,080.38.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,731 shares of company stock worth $21,016,751. Corporate insiders own 0.25% of the company's stock.

ServiceNow Trading Up 1.4 %

NOW traded up $14.86 during trading on Monday, reaching $1,072.02. The company had a trading volume of 1,079,535 shares, compared to its average volume of 944,889. The firm's 50-day simple moving average is $1,069.67 and its 200 day simple moving average is $933.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company 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 12-month low of $637.99 and a 12-month high of $1,157.90.

ServiceNow (NYSE:NOW - Get Free Report) last announced its 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 net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. During the same period last year, the company posted $1.21 earnings per share. The business's revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

ServiceNow Company 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.