Central Pacific Bank Trust Division Sells 887 Shares of ServiceNow, Inc. (NYSE:NOW)

Central Pacific Bank Trust Division trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 25.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,587 shares of the information technology services provider’s stock after selling 887 shares during the quarter. Central Pacific Bank Trust Division’s holdings in ServiceNow were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in NOW. Campbell & CO Investment Adviser LLC acquired a new stake in ServiceNow in the fourth quarter valued at approximately $795,000. Oppenheimer & Co. Inc. grew its stake in ServiceNow by 13.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,552 shares of the information technology services provider’s stock valued at $3,922,000 after acquiring an additional 641 shares during the period. Cetera Advisor Networks LLC grew its stake in ServiceNow by 1.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 23,752 shares of the information technology services provider’s stock valued at $16,780,000 after acquiring an additional 248 shares during the period. Cibc World Markets Corp grew its stake in ServiceNow by 134.2% in the fourth quarter. Cibc World Markets Corp now owns 26,374 shares of the information technology services provider’s stock valued at $18,633,000 after acquiring an additional 15,114 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of ServiceNow by 1.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 723,758 shares of the information technology services provider’s stock valued at $511,328,000 after buying an additional 13,640 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 1.6 %

NOW opened at $880.63 on Thursday. The business has a 50 day simple moving average of $845.39 and a two-hundred day simple moving average of $778.69. The firm has a market capitalization of $180.53 billion, a price-to-earnings ratio of 94.19, a PEG ratio of 5.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $945.46.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the company posted $0.77 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,914 shares of company stock valued at $5,608,936. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. BMO Capital Markets lifted their target price on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Stifel Nicolaus lifted their target price on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their price target on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $855.44.

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.