First Hawaiian Bank Buys 1,233 Shares of ServiceNow, Inc. (NYSE:NOW)

First Hawaiian Bank boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 53.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,541 shares of the information technology services provider’s stock after purchasing an additional 1,233 shares during the quarter. First Hawaiian Bank’s holdings in ServiceNow were worth $3,754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NOW. World Investment Advisors LLC lifted its stake in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Bank of Montreal Can boosted its stake in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after buying an additional 935,848 shares during the period. Wellington Management Group LLP grew its position in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares in the last quarter. Finally, FMR LLC increased its stake in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Sanford C. Bernstein lifted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,061.04.

ServiceNow Trading Down 0.6 %

NOW stock traded down $6.10 on Wednesday, reaching $1,048.05. The company’s stock had a trading volume of 1,417,646 shares, compared to its average volume of 1,065,750. The firm has a market cap of $215.90 billion, a PE ratio of 162.99, a PEG ratio of 6.43 and a beta of 0.99. The business has a fifty day simple moving average of $1,058.15 and a two-hundred day simple moving average of $917.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,629 shares of company stock valued at $20,861,626. Corporate insiders own 0.25% of the company’s stock.

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.