Washington Trust Bank Has $19.19 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Washington Trust Bank raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,098 shares of the information technology services provider's stock after acquiring an additional 386 shares during the period. ServiceNow comprises about 1.9% of Washington Trust Bank's investment portfolio, making the stock its 14th largest position. Washington Trust Bank's holdings in ServiceNow were worth $19,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of NOW. Quarry LP bought a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new position in shares of ServiceNow in the fourth quarter valued at about $28,000. WASHINGTON TRUST Co raised its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow in the fourth quarter valued at about $32,000. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the fourth quarter valued at about $37,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Down 4.5%

Shares of NYSE:NOW traded down $45.42 during midday trading on Thursday, reaching $968.29. 2,002,162 shares of the company were exchanged, compared to its average volume of 1,480,371. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $1,008.69 and a two-hundred day simple moving average of $962.58. The firm has a market cap of $200.42 billion, a PE ratio of 131.56, a P/E/G ratio of 4.70 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm's quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the business posted $3.41 earnings per share. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of several research analyst reports. Raymond James Financial decreased their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reissued a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and upped their price target for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director directly owned 10,891 shares in the company, valued at $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,955 shares of company stock valued at $6,862,195 over the last ninety days. Company insiders own 0.38% of the company's stock.

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.