MetLife Investment Management LLC Sells 286 Shares of ServiceNow, Inc. (NYSE:NOW)

MetLife Investment Management LLC lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,197 shares of the information technology services provider’s stock after selling 286 shares during the quarter. MetLife Investment Management LLC’s holdings in ServiceNow were worth $33,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Bank Julius Baer & Co. Ltd Zurich raised its stake in ServiceNow by 96,156.9% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 23,469,361 shares of the information technology services provider’s stock valued at $13,189,077,000 after purchasing an additional 23,444,979 shares during the period. Norges Bank bought a new stake in ServiceNow in the 4th quarter worth approximately $872,202,000. Jennison Associates LLC bought a new stake in ServiceNow in the 2nd quarter worth approximately $1,127,232,000. GQG Partners LLC increased its stake in ServiceNow by 63,533.9% in the 1st quarter. GQG Partners LLC now owns 1,536,122 shares of the information technology services provider’s stock worth $713,867,000 after acquiring an additional 1,533,708 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in ServiceNow by 69,897.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after acquiring an additional 854,846 shares during the last quarter. Institutional investors own 87.14% of the company’s stock.

Insider Activity at ServiceNow

In other news, insider Christopher Bedi sold 1,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $554.75, for a total value of $554,750.00. Following the transaction, the insider now directly owns 15,484 shares of the company’s stock, valued at $8,589,749. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 355 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $565.16, for a total value of $200,631.80. Following the transaction, the insider now directly owns 2,789 shares of the company’s stock, valued at $1,576,231.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Bedi sold 1,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $554.75, for a total value of $554,750.00. Following the completion of the transaction, the insider now directly owns 15,484 shares in the company, valued at $8,589,749. The disclosure for this sale can be found here. Insiders have sold 9,656 shares of company stock valued at $5,649,228 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

ServiceNow Stock Up 1.1 %

NYSE:NOW traded up $7.26 during mid-day trading on Monday, hitting $661.62. 428,688 shares of the company’s stock traded hands, compared to its average volume of 1,411,786. The company has a fifty day moving average of $577.93 and a 200 day moving average of $558.60. ServiceNow, Inc. has a twelve month low of $353.62 and a twelve month high of $663.91. The company has a market capitalization of $135.63 billion, a P/E ratio of 84.76, a P/E/G ratio of 5.68 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.08 and a current ratio of 1.08.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.32. ServiceNow had a return on equity of 12.25% and a net margin of 18.72%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. On average, analysts forecast that ServiceNow, Inc. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley lifted their price objective on ServiceNow from $630.00 to $648.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. StockNews.com initiated coverage on ServiceNow in a report on Thursday, October 5th. They issued a “buy” rating for the company. TheStreet cut ServiceNow from a “b” rating to a “c+” rating in a report on Wednesday, October 25th. Royal Bank of Canada lifted their target price on ServiceNow from $665.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Finally, Moffett Nathanson lifted their target price on ServiceNow from $549.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $614.77.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.