Washington Trust Bank Sells 21 Shares of ServiceNow, Inc. (NYSE:NOW)

Washington Trust Bank reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,448 shares of the information technology services provider’s stock after selling 21 shares during the period. ServiceNow accounts for about 2.2% of Washington Trust Bank’s portfolio, making the stock its 9th largest holding. Washington Trust Bank’s holdings in ServiceNow were worth $22,760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares during the period. Swedbank AB bought a new stake in shares of ServiceNow during the 1st quarter worth about $897,908,000. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the period. AustralianSuper Pty Ltd bought a new stake in shares of ServiceNow during the 2nd quarter worth about $218,786,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after buying an additional 271,073 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 10,767 shares in the company, valued at $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,343 shares of company stock valued at $2,791,181 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Trading Up 0.7 %

Shares of NYSE:NOW traded up $7.09 during trading on Thursday, reaching $1,001.57. The stock had a trading volume of 75,956 shares, compared to its average volume of 1,275,640. The firm’s fifty day moving average is $905.83 and its 200 day moving average is $809.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 52 week low of $615.54 and a 52 week high of $1,005.08. The stock has a market cap of $206.32 billion, a price-to-earnings ratio of 154.64, a P/E/G ratio of 5.48 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Robert W. Baird boosted their price objective on shares of ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Mizuho boosted their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein boosted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $970.33.

ServiceNow 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.