Washington Trust Bank Acquires 8,968 Shares of ServiceNow, Inc. $NOW

Washington Trust Bank boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 14.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,229 shares of the information technology services provider’s stock after buying an additional 8,968 shares during the period. Washington Trust Bank’s holdings in ServiceNow were worth $7,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Watch Advisors INC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $29,000. Kelleher Financial Advisors acquired a new stake in shares of ServiceNow during the third quarter worth $50,000. Pin Oak Investment Advisors Inc. grew its stake in shares of ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 23 shares during the period. Jupiter Wealth Management LLC bought a new stake in ServiceNow in the second quarter valued at about $154,000. Finally, CBIZ Investment Advisory Services LLC increased its holdings in ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Trending Headlines about ServiceNow

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow’s recent rally was helped by Salesforce’s strong quarterly results and upbeat outlook, which eased concerns about a “SaaS-pocalypse.” Investors are increasingly viewing AI as an enhancement to existing enterprise workflows rather than a threat to core software platforms. Why ServiceNow Rallied Today
• Positive Sentiment: Analyst and market commentary highlights ServiceNow’s agentic-AI momentum, including more than $1 billion in AI annual contract value, broader enterprise adoption and potential new monetization opportunities. The company’s AI Control Tower and expanding customer spending are viewed as additional growth drivers. Agentic AI Adoption Boosts NOW’s Growth Prospects
• Positive Sentiment: Wall Street remains broadly constructive, with ServiceNow receiving Buy or Moderate Buy consensus ratings. The stock has also approached technical buy points, while some analysts have issued targets as high as $150 or substantially higher. Is It Worth Investing in ServiceNow Based on Wall Street’s Bullish Views?
• Neutral Sentiment: ServiceNow has risen about 70% from its yearly low and remains below its prior peak, creating debate over whether the move represents a new buying opportunity or a temporary rebound. Analysts’ median price target of approximately $134 is below the current trading level, limiting near-term upside based on that measure. Is It a Golden Opportunity to Buy ServiceNow Stock?
• Negative Sentiment: ServiceNow warned of three maximum-severity vulnerabilities that could allow unauthenticated attackers to execute code or access SQL systems. Although patches and mitigations may limit the financial impact, the disclosures create reputational, customer-retention and execution risks. Three CVSS 10.0 ServiceNow Flaws
• Negative Sentiment: At an elevated earnings multiple, the stock is vulnerable to profit-taking if AI growth slows. Jim Cramer recommended selling half a position and retaining the remainder, underscoring the sharp rally and the possibility that some optimism is already reflected in the shares. Jim Cramer’s ServiceNow Advice

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $125.60, for a total value of $188,400.00. Following the sale, the director directly owned 46,690 shares in the company, valued at $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $140.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Citizens Jmp restated a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. Weiss Ratings raised shares of ServiceNow from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Finally, Barclays reissued an “overweight” rating and issued a $134.00 price target (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.24.

ServiceNow Stock Up 4.6%

Shares of NOW stock opened at $144.77 on Friday. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $112.33 and a 200-day moving average of $106.60. The company has a market capitalization of $149.69 billion, a price-to-earnings ratio of 90.48, a P/E/G ratio of 2.55 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm’s revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.