Washington Trust Advisors Inc. Decreases Stake in ServiceNow, Inc. (NYSE:NOW)

Washington Trust Advisors Inc. lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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.

A number of other institutional investors also recently bought and sold shares of NOW. West Oak Capital LLC grew its position in shares of ServiceNow by 6.6% during the fourth quarter. West Oak Capital LLC now owns 402 shares of the information technology services provider’s stock valued at $293,000 after purchasing an additional 25 shares in the last quarter. Cornell Pochily Investment Advisors Inc. bought a new stake in shares of ServiceNow in the 4th quarter worth about $212,000. IFG Advisory LLC boosted its position in shares of ServiceNow by 7.5% during the fourth quarter. IFG Advisory LLC now owns 402 shares of the information technology services provider’s stock valued at $284,000 after buying an additional 28 shares during the period. Columbia Trust Co 01012016 grew its stake in shares of ServiceNow by 16.7% during the fourth quarter. Columbia Trust Co 01012016 now owns 2,867 shares of the information technology services provider’s stock valued at $2,026,000 after buying an additional 410 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its holdings in shares of ServiceNow by 17.5% in the fourth quarter. Gemmer Asset Management LLC now owns 18,866 shares of the information technology services provider’s stock worth $13,329,000 after buying an additional 2,807 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.7 %

ServiceNow stock traded up $5.68 during trading on Thursday, reaching $764.68. The company had a trading volume of 462,639 shares, compared to its average volume of 1,224,740. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $156.76 billion, a price-to-earnings ratio of 90.67, a PEG ratio of 4.96 and a beta of 0.97. The stock’s 50 day moving average price is $768.99 and its two-hundred day moving average price is $679.61. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 6.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. JMP Securities increased their target price on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research note on Monday, January 22nd. Argus upped their price target on shares of ServiceNow from $675.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Royal Bank of Canada lifted their price target on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Needham & Company LLC boosted their price objective on ServiceNow from $660.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Barclays raised their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $762.96.

Insider Activity

In related news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on 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 transaction, 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 document filed with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last 90 days. Company insiders own 0.24% of the company’s stock.

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.