Central Pacific Bank Trust Division Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Central Pacific Bank Trust Division raised its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 91.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,766 shares of the information technology services provider's stock after buying an additional 2,277 shares during the period. Central Pacific Bank Trust Division's holdings in ServiceNow were worth $3,794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after acquiring an additional 30 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $48,802,000. Nilsine Partners LLC bought a new position in shares of ServiceNow during the fourth quarter worth about $257,000. SteelPeak Wealth LLC bought a new position in shares of ServiceNow during the fourth quarter worth about $357,000. Finally, Foster Group Inc. bought a new position in ServiceNow in the fourth quarter worth about $211,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of ServiceNow stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the sale, the chief financial officer now directly owns 11,198 shares of the company's stock, valued at approximately $11,030,030. The trade was a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director now directly owns 3,205 shares in the company, valued at approximately $2,985,842.10. The trade was a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,102 shares of company stock valued at $2,944,038. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on NOW. Raymond James decreased their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and upped their price objective for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty have given 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 a consensus price target of $1,062.50.

ServiceNow Trading Up 0.1%

Shares of NOW traded up $1.32 during trading hours on Monday, reaching $1,012.41. 637,277 shares of the company traded hands, compared to its average volume of 1,822,755. The company's fifty day moving average price is $899.20 and its two-hundred day moving average price is $974.30. The company has a market capitalization of $209.55 billion, a price-to-earnings ratio of 148.22, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12 month low of $645.45 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 EPS. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.