Washington Trust Advisors Inc. Sells 258 Shares of ServiceNow, Inc. (NYSE:NOW)

Washington Trust Advisors Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 34.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 488 shares of the information technology services provider’s stock after selling 258 shares during the period. Washington Trust Advisors Inc.’s holdings in ServiceNow were worth $345,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. First Foundation Advisors grew its position in ServiceNow by 2.1% during the 2nd quarter. First Foundation Advisors now owns 5,292 shares of the information technology services provider’s stock worth $2,974,000 after acquiring an additional 108 shares during the last quarter. First Hawaiian Bank grew its holdings in shares of ServiceNow by 2.2% in the third quarter. First Hawaiian Bank now owns 7,514 shares of the information technology services provider’s stock worth $4,200,000 after purchasing an additional 165 shares during the last quarter. Raymond James & Associates increased its stake in shares of ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after buying an additional 18,442 shares during the period. F M Investments LLC bought a new stake in ServiceNow during the 3rd quarter valued at $1,624,000. Finally, Treasurer of the State of North Carolina boosted its position in ServiceNow by 2.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 91,705 shares of the information technology services provider’s stock valued at $51,535,000 after buying an additional 1,920 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul John Smith sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 over the last quarter. Company insiders own 0.24% of the company’s stock.

ServiceNow Stock Up 0.7 %

Shares of ServiceNow stock traded up $5.68 on Thursday, reaching $764.68. The company’s stock had a trading volume of 462,639 shares, compared to its average volume of 1,224,740. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32. The firm’s fifty day simple moving average is $768.99 and its two-hundred day simple moving average is $679.61. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $156.76 billion, a price-to-earnings ratio of 90.67, a P/E/G ratio of 4.96 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. ServiceNow’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 6.11 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on NOW. Argus upped their price objective on shares of ServiceNow from $675.00 to $770.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research report on Wednesday, March 20th. JMP Securities lifted their price objective on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research report on Monday, January 22nd. TheStreet raised ServiceNow from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Finally, Mizuho boosted their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $762.96.

ServiceNow Company 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.