Central Pacific Bank Trust Division Trims Position in ServiceNow, Inc. (NYSE:NOW)

Central Pacific Bank Trust Division trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,489 shares of the information technology services provider’s stock after selling 98 shares during the quarter. Central Pacific Bank Trust Division’s holdings in ServiceNow were worth $2,639,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Everence Capital Management Inc. grew its stake in ServiceNow by 0.3% during the fourth quarter. Everence Capital Management Inc. now owns 6,313 shares of the information technology services provider’s stock worth $6,693,000 after buying an additional 20 shares during the period. Franchise Capital Ltd purchased a new stake in shares of ServiceNow during the 4th quarter valued at about $3,615,000. GAMMA Investing LLC lifted its position in ServiceNow by 15.5% during the 4th quarter. GAMMA Investing LLC now owns 3,070 shares of the information technology services provider’s stock worth $3,255,000 after acquiring an additional 411 shares in the last quarter. Versant Capital Management Inc boosted its holdings in ServiceNow by 172.9% in the 4th quarter. Versant Capital Management Inc now owns 161 shares of the information technology services provider’s stock worth $171,000 after acquiring an additional 102 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in ServiceNow by 53.5% in the third quarter. Lord Abbett & CO. LLC now owns 107,777 shares of the information technology services provider’s stock valued at $96,395,000 after acquiring an additional 37,550 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 1.5 %

NYSE:NOW traded up $15.86 on Friday, hitting $1,070.20. 389,982 shares of the company’s stock traded hands, compared to its average volume of 703,319. The firm has a 50-day moving average price of $1,051.07 and a 200-day moving average price of $908.48. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $220.46 billion, a PE ratio of 166.44, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,157.90.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOW shares. Barclays upped their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Truist Financial lifted their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Scotiabank began coverage on ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Robert W. Baird lifted their price target on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC boosted their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued 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 $1,053.89.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction on 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 completion of the sale, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $20,861,626 in the last 90 days. 0.25% of the stock is owned by insiders.

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.