WASHINGTON TRUST Co Makes New $11.15 Million Investment in ServiceNow, Inc. $NOW

Key Points

• Washington Trust Co. acquired 83,229 ServiceNow shares in the third quarter, representing an investment of approximately $11.15 million. Institutional investors and hedge funds collectively own 87.18% of the company.
• ServiceNow reported quarterly EPS of $0.90, exceeding estimates of $0.86, while revenue rose 24% year over year to $3.99 billion. The stock recently traded at $159.29, up 1.5%, but its roughly 100 price-to-earnings ratio reflects a premium valuation.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $155.10 target price, although insiders sold shares recently and investors remain focused on whether AI-driven growth and upcoming earnings can justify the stock’s valuation.

WASHINGTON TRUST Co acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 83,229 shares of the information technology services provider's stock, valued at approximately $11,154,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in ServiceNow in the 2nd quarter valued at about $9,536,615,000. State Street Corp boosted its stake in shares of ServiceNow by 2.0% during the 2nd quarter. State Street Corp now owns 49,038,218 shares of the information technology services provider's stock worth $4,868,514,000 after purchasing an additional 979,726 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ServiceNow by 16.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,638,071 shares of the information technology services provider's stock worth $1,651,828,000 after buying an additional 2,362,606 shares in the last quarter. Amundi grew its holdings in shares of ServiceNow by 60.9% during the first quarter. Amundi now owns 11,479,098 shares of the information technology services provider's stock worth $1,200,140,000 after buying an additional 4,346,722 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ServiceNow by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 8,526,931 shares of the information technology services provider's stock valued at $891,491,000 after buying an additional 518,263 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 1.5%

ServiceNow stock traded up $2.29 during trading on Friday, reaching $159.29. The company had a trading volume of 11,079,096 shares, compared to its average volume of 11,102,899. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $192.97. The stock's 50 day moving average price is $137.87 and its two-hundred day moving average price is $115.39. The firm has a market capitalization of $164.71 billion, a price-to-earnings ratio of 99.56, a PEG ratio of 2.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. ServiceNow's revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. As a group, equities analysts expect that ServiceNow, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 2,034 shares of ServiceNow stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the transaction, the insider owned 18,305 shares in the company, valued at $2,706,760.35. This trade represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline Canney sold 7,847 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $138.00, for a total transaction of $1,082,886.00. Following the sale, the insider directly owned 30,042 shares of the company's stock, valued at $4,145,796. This represents a 20.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,081 shares of company stock worth $1,937,904 in the last quarter. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Guggenheim reissued a "buy" rating and set a $175.00 price objective (up from $125.00) on shares of ServiceNow in a research note on Friday. Morgan Stanley set a $180.00 target price on shares of ServiceNow in a research note on Tuesday, July 21st. Evercore reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Tuesday, October 13th. BTIG Research reiterated a "buy" rating and issued a $170.00 price target on shares of ServiceNow in a report on Monday, October 12th. Finally, Oppenheimer reissued an "outperform" rating and set a $165.00 price target (up from $140.00) on shares of ServiceNow in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.10.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Bank of America raised its price target to $180 ahead of ServiceNow’s third-quarter results, citing continued demand for AI-related products and services. The revised target signals confidence that AI adoption can support additional growth. Bank of America Boosts ServiceNow Forecast Ahead of Earnings
• Positive Sentiment: ServiceNow’s defense and national-security business is being positioned as a major growth driver over the next year. Management highlighted demand for workflow automation, AI, cybersecurity, logistics modernization and digital transformation among military and government agencies. ServiceNow Defense Business Interview
• Positive Sentiment: The company and Nvidia launched “Arc,” an AI agent designed to plan tasks and verify its work. The product reinforces ServiceNow’s strategy of embedding governed, enterprise-grade AI into its workflow platform, potentially supporting product adoption and customer spending. ServiceNow and Nvidia Launch Arc
• Positive Sentiment: ServiceNow was selected as a preferred idea on CNBC’s “Final Trades,” while Polen Capital highlighted the company’s AI opportunity and revenue-growth prospects. These endorsements add to favorable market sentiment, although they are not substitutes for operating results. ServiceNow on CNBC’s Final Trades
• Neutral Sentiment: Investors are focused on ServiceNow’s upcoming third-quarter earnings, with analysts examining subscription growth, current remaining performance obligations, margins and other operating metrics beyond revenue and EPS. Results and guidance could determine whether the recent rally continues. ServiceNow Q3 Performance Estimates
• Negative Sentiment: Comparisons with TD SYNNEX frame ServiceNow as a less obvious value investment. NOW’s premium valuation means the stock remains sensitive to an earnings or guidance disappointment, despite its strong growth prospects. SNX vs. NOW Value Comparison

ServiceNow Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company's products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.

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