MassMutual Private Wealth & Trust FSB Increases Position in ServiceNow, Inc. (NYSE:NOW)

MassMutual Private Wealth & Trust FSB lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 53.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,681 shares of the information technology services provider's stock after purchasing an additional 6,164 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in ServiceNow were worth $14,077,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after buying an additional 12,533 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow in the fourth quarter worth about $48,802,000. Dock Street Asset Management Inc. grew its holdings in ServiceNow by 3.4% in the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock worth $35,147,000 after acquiring an additional 1,105 shares during the last quarter. Rheos Capital Works Inc. bought a new stake in ServiceNow in the 4th quarter worth $10,071,000. Finally, FMR LLC grew its holdings in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

ServiceNow stock traded down $2.55 during midday trading on Monday, reaching $1,008.54. 462,716 shares of the company traded hands, compared to its average volume of 1,501,309. The firm has a market capitalization of $208.75 billion, a price-to-earnings ratio of 147.83, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business has a 50 day moving average of $899.20 and a two-hundred day moving average of $974.30. ServiceNow, Inc. has a 12 month low of $645.45 and a 12 month high of $1,198.09. 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 issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.41 earnings per share. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NOW shares. Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Piper Sandler reduced their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. TD Securities reiterated a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Finally, BMO Capital Markets upped their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 292 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the completion of the sale, the chief financial officer now directly owns 11,198 shares of the company's stock, valued at approximately $11,030,030. This trade represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,102 shares of company stock worth $2,944,038 over the last quarter. Company insiders own 0.38% of the company's stock.

About ServiceNow

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.