ServiceNow, Inc. (NYSE:NOW) is Washington Trust Bank’s 9th Largest Position

Washington Trust Bank lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,448 shares of the information technology services provider’s stock after selling 21 shares during the quarter. ServiceNow makes up about 2.2% of Washington Trust Bank’s portfolio, making the stock its 9th largest position. Washington Trust Bank’s holdings in ServiceNow were worth $22,760,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NOW. M&G Plc purchased a new position in shares of ServiceNow in the first quarter worth about $11,030,000. AXA S.A. boosted its position in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares during the period. HWG Holdings LP bought a new position in shares of ServiceNow in the second quarter valued at approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after acquiring an additional 1,078 shares during the period. Finally, Wealthspire Advisors LLC boosted its position in shares of ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 135 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Paul Edward Chamberlain sold 135 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now directly owns 10,767 shares of the company’s stock, valued at approximately $8,850,474. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,457,924. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,343 shares of company stock valued at $2,791,181 in the last quarter. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NYSE:NOW traded up $7.09 during mid-day trading on Thursday, reaching $1,001.57. The company’s stock had a trading volume of 75,956 shares, compared to its average volume of 1,275,640. ServiceNow, Inc. has a 12-month low of $615.54 and a 12-month high of $1,005.08. The firm’s fifty day moving average price is $905.83 and its two-hundred day moving average price is $809.18. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $206.32 billion, a P/E ratio of 154.64, a PEG ratio of 5.48 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NOW shares. UBS Group raised their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays lifted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Mizuho lifted their price target on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Truist Financial lifted their target price on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $970.33.

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.