MetLife Investment Management LLC Sells 1,133 Shares of ServiceNow, Inc. $NOW

Key Points

• MetLife Investment Management LLC has reduced its holdings in ServiceNow, Inc. by 1.8%, selling 1,133 shares to own 62,436 shares, valued at approximately $49.7 million.
• Equities analysts have a consensus rating of "Moderate Buy" for ServiceNow with a target price averaging around $1,115.20, with some analysts projecting the stock to reach prices as high as $1,225.00.
• Recent insider trading includes significant sales by company executives, with insider Paul Fipps selling 1,452 shares for over $1.2 million and CFO Gina Mastantuono selling 1,762 shares for around $1.5 million.

MetLife Investment Management LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,436 shares of the information technology services provider's stock after selling 1,133 shares during the period. MetLife Investment Management LLC's holdings in ServiceNow were worth $49,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quarry LP bought a new position in ServiceNow in the fourth quarter worth approximately $27,000. Bogart Wealth LLC grew its holdings in ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow in the first quarter worth $26,000. Heck Capital Advisors LLC purchased a new position in ServiceNow in the fourth quarter worth $37,000. Finally, WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NOW shares. Barclays set a $1,210.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Needham & Company LLC lifted their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. Stifel Nicolaus boosted their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider directly owned 457 shares of the company's stock, valued at approximately $409,037.85. This represents a 76.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the sale, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,096 shares of company stock valued at $14,807,562 in the last 90 days. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

NYSE:NOW opened at $885.7930 on Friday. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $184.24 billion, a price-to-earnings ratio of 111.56, a PEG ratio of 4.00 and a beta of 0.93. The firm's fifty day moving average is $955.00 and its two-hundred day moving average is $929.03.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company earned $3.13 earnings per share. The firm's revenue was up 22.4% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS 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.

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