MetLife Investment Management LLC Has $56.27 Million Position in ServiceNow, Inc. (NYSE:NOW)

MetLife Investment Management LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,909 shares of the information technology services provider's stock after selling 1,304 shares during the period. MetLife Investment Management LLC's holdings in ServiceNow were worth $56,265,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider's stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Swedbank AB acquired a new stake in ServiceNow during the 1st quarter valued at $897,908,000. Bank of Montreal Can boosted its position in shares of ServiceNow by 216.6% in the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider's stock worth $1,206,178,000 after buying an additional 935,848 shares during the period. FMR LLC lifted its stake in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock worth $5,014,302,000 after acquiring an additional 502,845 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in ServiceNow by 917.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310,754 shares of the information technology services provider's stock worth $277,935,000 after acquiring an additional 280,210 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 owns 2,595 shares of the company's stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares of the company's stock, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,329 shares of company stock worth $20,547,241 in the last ninety days. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOW. Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. KeyCorp lifted their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, UBS Group boosted their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average target price of $989.07.

ServiceNow Trading Down 2.7 %

NYSE:NOW traded down $28.65 during trading hours on Wednesday, hitting $1,041.42. 976,988 shares of the stock were exchanged, compared to its average volume of 1,284,065. 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 twelve month low of $637.99 and a twelve month high of $1,072.84. The company has a market capitalization of $214.53 billion, a P/E ratio of 161.96, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. The company's 50 day moving average is $958.40 and its two-hundred day moving average is $842.41.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 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.