First Hawaiian Bank raised its holdings in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 48.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,734 shares of the information technology services provider’s stock after acquiring an additional 1,541 shares during the quarter. First Hawaiian Bank’s holdings in ServiceNow were worth $2,251,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new position in shares of ServiceNow in the fourth quarter valued at approximately $25,000. OLD Second National Bank of Aurora bought a new position in shares of ServiceNow in the first quarter valued at approximately $28,000. High Net Worth Advisory Group LLC bought a new position in shares of ServiceNow in the first quarter valued at approximately $29,000. GoalVest Advisory LLC bought a new position in shares of ServiceNow in the first quarter valued at approximately $43,000. Finally, Core Alternative Capital lifted its stake in shares of ServiceNow by 310.5% in the first quarter. Core Alternative Capital now owns 78 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 59 shares in the last quarter. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, General Counsel Russell S. Elmer sold 2,666 shares of ServiceNow stock in a transaction on Monday, September 19th. The stock was sold at an average price of $422.80, for a total value of $1,127,184.80. Following the sale, the general counsel now owns 6,627 shares in the company, valued at $2,801,895.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Russell S. Elmer sold 2,666 shares of ServiceNow stock in a transaction on Monday, September 19th. The stock was sold at an average price of $422.80, for a total value of $1,127,184.80. Following the completion of the sale, the general counsel now directly owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Also, insider Lara Caimi sold 977 shares of ServiceNow stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $514.96, for a total amount of $503,115.92. Following the completion of the sale, the insider now directly owns 43 shares of the company’s stock, valued at $22,143.28. The disclosure for this sale can be found here. Insiders sold 32,922 shares of company stock worth $15,146,557 in the last quarter. 0.28% of the stock is currently owned by company insiders.
Changes in Analyst Ratings
NOW has been the subject of several research analyst reports. UBS Group reduced their price objective on ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Barclays dropped their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. BMO Capital Markets dropped their price target on ServiceNow from $595.00 to $520.00 in a report on Friday, July 15th. Canaccord Genuity Group dropped their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Morgan Stanley dropped their target price on ServiceNow from $594.00 to $575.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $593.29.
ServiceNow Price Performance
NYSE:NOW opened at $411.55 on Wednesday. ServiceNow, Inc. has a 52 week low of $367.71 and a 52 week high of $707.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $83.13 billion, a P/E ratio of 452.25, a P/E/G ratio of 7.96 and a beta of 0.98. The stock’s fifty day moving average is $446.06 and its two hundred day moving average is $469.69.
ServiceNow (NYSE:NOW – Get Rating) last posted its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. In the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. Equities analysts expect ServiceNow, Inc. will post 1.73 EPS for the current year.
ServiceNow Company Profile
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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