First Hawaiian Bank boosted its position in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,898 shares of the information technology services provider’s stock after acquiring an additional 52 shares during the quarter. First Hawaiian Bank’s holdings in ServiceNow were worth $1,513,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TIAA FSB raised its position in shares of ServiceNow by 900.4% in the fourth quarter. TIAA FSB now owns 27,722 shares of the information technology services provider’s stock valued at $10,764,000 after purchasing an additional 24,951 shares during the period. Assenagon Asset Management S.A. raised its position in shares of ServiceNow by 14.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 72,871 shares of the information technology services provider’s stock valued at $28,294,000 after purchasing an additional 9,014 shares during the period. Telemus Capital LLC bought a new position in shares of ServiceNow in the fourth quarter valued at about $296,000. Riverbridge Partners LLC raised its position in shares of ServiceNow by 8.4% in the fourth quarter. Riverbridge Partners LLC now owns 130,044 shares of the information technology services provider’s stock valued at $50,492,000 after purchasing an additional 10,044 shares during the period. Finally, Cullinan Associates Inc. raised its position in shares of ServiceNow by 33.2% in the fourth quarter. Cullinan Associates Inc. now owns 799 shares of the information technology services provider’s stock valued at $310,000 after purchasing an additional 199 shares during the period. 86.31% of the stock is owned by institutional investors.
ServiceNow Stock Up 2.4 %
NOW stock opened at $445.46 on Wednesday. The firm has a 50-day moving average price of $441.42 and a 200-day moving average price of $412.13. The stock has a market capitalization of $90.43 billion, a P/E ratio of 278.41, a price-to-earnings-growth ratio of 5.88 and a beta of 1.03. ServiceNow, Inc. has a 12 month low of $337.00 and a 12 month high of $601.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.
Insider Activity at ServiceNow
In related news, CEO William R. Mcdermott sold 2,483 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $455.03, for a total value of $1,129,831.05. Following the completion of the transaction, the chief executive officer now owns 53,117 shares in the company, valued at approximately $24,169,647.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO William R. Mcdermott sold 2,483 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $455.03, for a total value of $1,129,831.05. Following the completion of the transaction, the chief executive officer now owns 53,117 shares in the company, valued at approximately $24,169,647.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lara Caimi sold 2,975 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $431.58, for a total transaction of $1,283,950.50. Following the transaction, the insider now owns 98 shares of the company’s stock, valued at approximately $42,294.84. The disclosure for this sale can be found here. Insiders sold a total of 63,016 shares of company stock worth $28,805,543 in the last quarter. 0.28% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
NOW has been the topic of several research analyst reports. Piper Sandler increased their price objective on shares of ServiceNow from $500.00 to $525.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. StockNews.com initiated coverage on shares of ServiceNow in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Robert W. Baird decreased their price target on shares of ServiceNow from $500.00 to $475.00 in a research note on Wednesday, December 21st. Morgan Stanley upped their price target on shares of ServiceNow from $520.00 to $612.00 and gave the company an “overweight” rating in a research note on Monday, December 19th. Finally, Royal Bank of Canada upped their price target on shares of ServiceNow from $500.00 to $510.00 in a research note on Thursday, January 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $517.47.
ServiceNow Company Profile
ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.
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