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

Eastern Bank boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 108.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,421 shares of the information technology services provider's stock after purchasing an additional 28,272 shares during the period. Eastern Bank's holdings in ServiceNow were worth $48,674,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of ServiceNow during the first quarter valued at about $114,000. Dynamic Advisor Solutions LLC increased its position in shares of ServiceNow by 80.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,204 shares of the information technology services provider's stock valued at $2,443,000 after acquiring an additional 1,426 shares during the last quarter. Richelieu Gestion SA increased its position in shares of ServiceNow by 2,500.0% during the first quarter. Richelieu Gestion SA now owns 260 shares of the information technology services provider's stock valued at $198,000 after acquiring an additional 250 shares during the last quarter. IAM Advisory LLC increased its position in shares of ServiceNow by 2.1% during the first quarter. IAM Advisory LLC now owns 1,059 shares of the information technology services provider's stock valued at $807,000 after acquiring an additional 22 shares during the last quarter. Finally, CFM Wealth Partners LLC increased its position in shares of ServiceNow by 140.4% during the first quarter. CFM Wealth Partners LLC now owns 3,435 shares of the information technology services provider's stock valued at $2,619,000 after acquiring an additional 2,006 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Down 0.0 %

Shares of NOW stock traded down $0.42 during trading hours on Tuesday, hitting $917.92. 1,141,809 shares of the company were exchanged, compared to its average volume of 1,272,361. The firm has a market cap of $188.17 billion, a PE ratio of 98.47, a PEG ratio of 5.63 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $949.59. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $876.85 and a 200 day moving average of $793.35.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm posted $0.77 EPS. The company's revenue was up 22.2% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jacqueline P. Canney sold 353 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company's stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,267 shares of company stock worth $5,935,447. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. Morgan Stanley cut shares of ServiceNow from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $900.00 to $960.00 in a research report on Monday. Oppenheimer lifted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Needham & Company LLC restated a "buy" rating and issued a $900.00 price objective on shares of ServiceNow in a report on Monday, September 9th. Barclays lifted their price objective on shares of ServiceNow from $890.00 to $980.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Finally, Wells Fargo & Company lifted their price objective on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an "overweight" rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $923.00.

About ServiceNow

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.