First Hawaiian Bank Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

First Hawaiian Bank grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 23.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,370 shares of the information technology services provider's stock after purchasing an additional 829 shares during the quarter. First Hawaiian Bank's holdings in ServiceNow were worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Brighton Jones LLC lifted its stake in shares of ServiceNow by 1.1% in 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 purchasing an additional 30 shares during the period. Geneos Wealth Management Inc. raised its stake in ServiceNow by 31.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 572 shares of the information technology services provider's stock worth $606,000 after buying an additional 138 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in ServiceNow by 11.0% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,030 shares of the information technology services provider's stock worth $1,092,000 after buying an additional 102 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the 4th quarter worth approximately $48,802,000. Finally, Nilsine Partners LLC acquired a new position in ServiceNow during the 4th quarter worth approximately $257,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the transaction, the director now directly owns 428 shares in the company, valued at approximately $402,418.44. This trade represents a 58.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director now owns 10,891 shares of the company's stock, valued at $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,102 shares of company stock valued at $2,944,038 over the last ninety days. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. Raymond James dropped their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler reduced their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company upped their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Canaccord Genuity Group reduced their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, TD Securities reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,062.50.

ServiceNow Price Performance

Shares of NOW stock traded down $3.43 on Friday, reaching $1,011.80. The company's stock had a trading volume of 2,663,194 shares, compared to its average volume of 1,516,529. 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 $637.99 and a 12-month high of $1,198.09. The company has a market capitalization of $209.43 billion, a P/E ratio of 148.14, a PEG ratio of 4.51 and a beta of 0.97. The stock's 50 day simple moving average is $899.20 and its 200-day simple moving average is $975.24.

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

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.