MML Investors Services LLC Purchases 269,610 Shares of ServiceNow, Inc. $NOW

Key Points

• MML Investors Services LLC boosted its ServiceNow stake by 441% in Q4, buying 269,610 additional shares and lifting its total position to 330,751 shares valued at about $50.7 million.
• Institutional ownership remains very high at 87.18% of the company, and several other funds also sharply increased their holdings during the quarter.
• Recent sentiment is mixed but mostly constructive: analysts’ average rating is Moderate Buy with an average price target of $142.17, while ServiceNow also reported Q1 earnings in line with estimates and 22.1% year-over-year revenue growth.

MML Investors Services LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 441.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 330,751 shares of the information technology services provider's stock after acquiring an additional 269,610 shares during the quarter. MML Investors Services LLC's holdings in ServiceNow were worth $50,668,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mufg Securities Americas Inc. raised its holdings in shares of ServiceNow by 398.3% during the fourth quarter. Mufg Securities Americas Inc. now owns 27,948 shares of the information technology services provider's stock valued at $4,281,000 after purchasing an additional 22,339 shares during the period. MYDA Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $1,685,000. Mariner LLC raised its holdings in shares of ServiceNow by 440.6% during the fourth quarter. Mariner LLC now owns 1,997,489 shares of the information technology services provider's stock valued at $306,020,000 after purchasing an additional 1,628,001 shares during the period. MayTech Global Investments LLC raised its holdings in shares of ServiceNow by 397.9% during the fourth quarter. MayTech Global Investments LLC now owns 245,366 shares of the information technology services provider's stock valued at $37,588,000 after purchasing an additional 196,085 shares during the period. Finally, Minot DeBlois Advisors LLC raised its holdings in shares of ServiceNow by 441.3% during the fourth quarter. Minot DeBlois Advisors LLC now owns 3,735 shares of the information technology services provider's stock valued at $572,000 after purchasing an additional 3,045 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares in the company, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director owned 44,930 shares of the company's stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. Corporate insiders own 0.34% of the company's stock.

Key ServiceNow News

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Benchmark raised its price target on ServiceNow to $130 from $125 and kept a Buy rating, signaling confidence that the stock has meaningful upside from current levels.
• Positive Sentiment: Another report noted ServiceNow has an average analyst recommendation of Moderate Buy, reinforcing a broadly constructive Wall Street view of the company.
• Positive Sentiment: IBM’s expanded ServiceNow partnership was highlighted as a way to accelerate enterprise AI adoption, which could bolster ServiceNow’s platform relevance and long-term growth narrative. Can IBM's Extended ServiceNow Deal Accelerate Enterprise AI Adoption?
• Neutral Sentiment: ServiceNow was described as a candidate to benefit from AI-driven workflow automation, but the commentary was more of a business thesis than a concrete catalyst. ServiceNow: A 7.0 Score in a Shifting AI Landscape
• Neutral Sentiment: ServiceNow outperformed the broader market in the latest session, but the move appeared tied to general momentum and analyst sentiment rather than a major company-specific announcement. ServiceNow (NOW) Beats Stock Market Upswing: What Investors Need to Know
• Negative Sentiment: Multiple articles compared ServiceNow with Salesforce and said CRM currently has the edge thanks to stronger Agentforce momentum, rising earnings estimates, and a lower valuation, which may pressure NOW’s relative appeal. ServiceNow vs. Salesforce: Which Cloud Software Stock Has an Edge Now?
• Negative Sentiment: A broader software-industry note said SaaS stocks have been under pressure over the past six months, a backdrop that can weigh on ServiceNow’s valuation even when company-specific news is positive. 1 Software Stock with Exciting Potential and 2 Facing Headwinds

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. KeyCorp set a $85.00 price objective on shares of ServiceNow and gave the company an "underweight" rating in a report on Thursday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $121.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. The Goldman Sachs Group dropped their price objective on shares of ServiceNow from $188.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. UBS Group reiterated an "outperform" rating on shares of ServiceNow in a report on Tuesday, May 26th. Finally, Truist Financial dropped their price objective on shares of ServiceNow from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $142.17.

ServiceNow Trading Up 2.1%

NYSE:NOW opened at $104.26 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $107.50 billion, a price-to-earnings ratio of 62.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $211.48. The firm has a 50-day moving average price of $99.85 and a two-hundred day moving average price of $119.31.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The company's revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.

ServiceNow Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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