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

MML Investors Services LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 6.2% in the third quarter, Holdings Channel.com reports. The firm owned 54,828 shares of the information technology services provider’s stock after selling 3,649 shares during the quarter. MML Investors Services LLC’s holdings in ServiceNow were worth $49,037,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the 3rd quarter worth $30,000. DT Investment Partners LLC raised 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 worth $35,000 after purchasing an additional 17 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $32,000. Oakworth Capital Inc. increased its holdings in shares of ServiceNow by 46.7% during 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, Semmax Financial Advisors Inc. purchased a new stake in shares of ServiceNow during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays raised their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler upped their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Royal Bank of Canada increased their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,011.26.

ServiceNow Price Performance

ServiceNow stock opened at $1,124.34 on Monday. The stock has a market cap of $231.61 billion, a P/E ratio of 174.86, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. The company has a fifty day simple moving average of $982.51 and a 200-day simple moving average of $858.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,137.00.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (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 business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the firm posted $1.21 EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the sale, the director now owns 10,467 shares in the company, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last three months. 0.25% of the stock is owned by corporate insiders.

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.