Central Pacific Bank Trust Division Has $5.09 Million Stock Holdings in ServiceNow, Inc. $NOW

Central Pacific Bank Trust Division raised its stake in ServiceNow, Inc. (NYSE:NOW) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,949 shares of the information technology services provider’s stock after acquiring an additional 183 shares during the period. ServiceNow makes up about 0.6% of Central Pacific Bank Trust Division’s portfolio, making the stock its 26th biggest holding. Central Pacific Bank Trust Division’s holdings in ServiceNow were worth $5,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the 1st quarter valued at $26,000. WASHINGTON TRUST Co increased its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Dagco Inc. bought a new position in shares of ServiceNow in the 1st quarter valued at $33,000. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow in the 4th quarter valued at $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider owned 457 shares in the company, valued at approximately $409,037.85. The trade was a 76.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares in the company, valued at $8,516,928.77. This trade represents a 10.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. Bank of America lifted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. BMO Capital Markets lifted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Raymond James Financial lifted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

ServiceNow Trading Down 0.9%

Shares of NOW stock opened at $930.04 on Friday. The firm has a market capitalization of $193.45 billion, a P/E ratio of 117.13, a P/E/G ratio of 4.23 and a beta of 0.91. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $927.34 and its 200 day simple moving average is $922.46.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.