ServiceNow, Inc. (NYSE:NOW) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,889 shares of the information technology services provider's stock after buying an additional 1,061 shares during the quarter. MML Investors Services LLC's holdings in ServiceNow were worth $59,249,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NOW. Virtu Financial LLC purchased a new stake in ServiceNow in the third quarter valued at $9,833,000. Anchor Investment Management LLC raised its holdings in ServiceNow by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider's stock valued at $1,220,000 after buying an additional 78 shares during the period. Stock Yards Bank & Trust Co. acquired a new position in ServiceNow in the third quarter valued at about $202,000. World Investment Advisors LLC boosted its stake in ServiceNow by 585.8% during the third quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider's stock worth $5,857,000 after buying an additional 5,594 shares during the period. Finally, Sfmg LLC acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $226,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NOW stock traded up $121.99 during mid-day trading on Thursday, hitting $934.69. The stock had a trading volume of 4,129,156 shares, compared to its average volume of 1,917,412. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company's 50-day simple moving average is $840.59 and its 200-day simple moving average is $967.11. The firm has a market cap of $193.48 billion, a PE ratio of 136.85, a PEG ratio of 4.51 and a beta of 1.08. 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 (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $2.31 EPS for the quarter, missing analysts' consensus estimates of $3.78 by ($1.47). ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a report on Thursday. Redburn Atlantic initiated coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. Bank of America decreased their target price on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets dropped their target price on ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Guggenheim increased their price target on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,035.39.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 4,442 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,282 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the completion of the sale, the director now owns 40,638 shares in the company, valued at approximately $41,883,148.32. This represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,250 shares of company stock valued at $19,853,273. Corporate insiders own 0.38% of the company's stock.

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.