ServiceNow, Inc. (NYSE:NOW) Shares Sold by Eastern Bank

Eastern Bank lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 54,260 shares of the information technology services provider’s stock after selling 161 shares during the period. ServiceNow accounts for 1.1% of Eastern Bank’s investment portfolio, making the stock its 23rd largest holding. Eastern Bank’s holdings in ServiceNow were worth $57,522,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Polymer Capital Management HK LTD grew its stake in shares of ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after buying an additional 981 shares during the period. AXA S.A. grew its stake in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC grew its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC grew its stake in shares of ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after buying an additional 765 shares during the period. Finally, HWG Holdings LP purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $2,679,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

ServiceNow stock traded down $19.66 during midday trading on Monday, hitting $1,004.91. 1,173,292 shares of the company’s stock were exchanged, compared to its average volume of 1,145,720. The stock has a market cap of $207.01 billion, a price-to-earnings ratio of 156.28, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The firm’s 50 day simple moving average is $1,064.01 and its 200 day simple moving average is $924.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

NOW has been the subject of several analyst reports. Evercore ISI increased their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC increased their target price on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Oppenheimer increased their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Scotiabank began coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,071.39.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 over the last 90 days. Company insiders own 0.25% 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.